Nortel. NT on the TSE.
stockcharts.com[W,A]DACLYIMY[DC][PB10!B50!B200!H.02,.20][VC60][IUB14!LA12,26,9!LP14,3,3!LD20!LC20]
Decided to have a look at this one since I expect we'll have to see a recovery here before most of the other techs in Canada start to show life.
I am a good contra-indicator for this stock, and I currently own it.
The MACD and Stochastic are both reflecting the current non-enthusiasm for this stock.
Interesting to see the Chaikin Money Flow went negative in late August, and hasn't been positive since.
This may have been the best of the indicators for this stock.
That 10 day crossing the 50 day in early June, which corresponded with the Chaikin going positive, seems to have been a good buy indicator.
Then there's the CCI (Commodity Channel Index) that I've added to this chart. In Murphy's book (Technical Analysis of Financial Markets) he says that Lambert, who developed the CCI, felt that values above 100+ indicated good stocks to go long on, and values below 100- indicated good stocks to short. Seems it wouldn't have worked well here.
Apparently others, who use the CCI, see the values over 100+ as overbought, and those below 100- as oversold.
I think I'll agree with that interpretation. |
