TA analysis on AMGV - This is out of CW
Posted by MrVolume on May 20, 1998 at 01:54:14:
Saw this on SI.
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Tuesday, May 19 1998 3:23PM ET
AMGV . A request to the TA'ers out there. On a chart basis is AMGV on a breakout?
Joe PTG&LI !!!
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If any one is interested I'm showing the following:
AMGV - Answer=Yes . This is a breakout. Heres a little TA and
Additional Info:
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Basic TA Chart
tscn.com
Current Info:
Tue May 19
AMER GEN VENT (OTC BB:AMGV) -
Last Trade .54
Change +.1025 +23.43%
Volume 876,500
Days Range .375-.6875
Bid .54 Ask 19/32 Size 25x25
Open .4609
52-week range .125- 1.28125
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TA stuff follows:
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Before the recent activity 29 Day Avg Volume was around 20K
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Mov Avg 1 line Indicator 40 Days:
Conventional Interpretation: Price is above the moving average so
the trend is up.
Additional Analysis: Market trend is UP.
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Mov Avg 2 lines Indicator 5,13 Days:
Conventional Interpretation: The market is bullish because the fast
moving average is above the slow moving average.
Additional Analysis: The market is EXTREMELY BULLISH.
Everything in this indicator is pointing to higher prices: the fast
average is above the slow average; the fast average is on an
upward slope from the previous bar; the slow average is on an
upward slope from the previous bar; and price is above the fast
average and the slow average.
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Bollinger Bands Indicator:
Conventional Interpretation: The Bollinger Bands are indicating an
overbought market. An overbought reading occurs when the close
is nearer to the top band than the bottom band.
Additional Analysis: Volatility appears to be picking up a bit, as
evidenced by an increasing distance between the upper and lower
bands over the last few bars. The market appears overbought, but
may continue to become more overbought before reversing. Given
that we closed at a 45 bar new high, the chance for further bullish
momentum is greatly increased. Look for some price weakness
before taking any bearish positions based on this indicator.
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MACD Indicator:
Conventional Interpretation: MACD is in bullish territory, but has not
issued a signal here. MACD generates a signal when the FastMA
crosses above or below the SlowMA.
Additional Analysis: The long term trend, based on a 45 bar
moving average, is UP. The short term trend, based on a 9 bar
moving average, is UP. MACD is in bullish territory. And, the market
just put in a 45 bar new high here. Look for more new highs.
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Stochastic - Slow Indicator:
Conventional Interpretation: The stochastic is bullish because the
SlowK line is above SlowD line.
Additional Analysis: The long term trend is UP. The short term trend
is UP. Even though the stochastic is signaling that the market is
overbought, don't be fooled looking for a top here because of this
indicator. The stochastic indicator is only good at picking tops in a
Bear Market (in which we are not). Exit long position only if some
other indicator tells you to.
Stochastic - Fast Indicator:
Conventional Interpretation: The SlowK line crossed below the
SlowD line; this indicates a sell signal.
Additional Analysis: The long term trend is UP. The short term trend
is UP. Even though the stochastic is signaling that the market is
overbought, don't be fooled looking for a top here because of this
indicator. The stochastic indicator is only good at picking tops in a
Bear Market (in which we are not). Exit long position only if some
other indicator tells you to.
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Stock is starting third day of run. May pause at some point before
going higher. (Normal Shake & Profit Taking)
Very little overhead shares waiting to dump on you though.(Good)
If +volume continues and weak hands are shaken out quickly, new highs
are attainable.
In summary, a good pick that has broken out. Homework (DD) was
done and gets an 'A' for effort. Just my opinion.
Good Luck in your Trades.(EOM)MrV |
