$QXO ok, a little point and figure chart training for y'all
It took 2 years to double bottom.
Notice the
#8 on the first bottom. The
#8 is August, the eighth month. That was 2 years ago, 2024.
Notice the capital A on the 2nd bottom. This just happened this month, the 10th month, October - the letter A representing October.
On this particular chart, those boxes are $10.88 which we hit.
We are nicely trading over this. Each time, both yesterday and today, we closed up over $11.
The point and figures tell a story. They tell me conclusively we are bottomed. The next run up goes past the previous run up and then we are off to the races. My previous chart, shows the area its going- $40-$100 to get back within the moving averages area (that I set up).