short term btk
here's a btk chart, as far as who knew? i'd say the trendline break was a pretty good indication. i was skeptical today bcuz the adx's on the fifteens seemed so elevated. but now this is as close as it gets to 3 white soldiers, a rather positive candle form. the next pullback off this with a reversal candle form might be considered a buy opp, imo. stocks like cbst, gild, imcl, trms may get a pull on their 20ma's up. others like, osip, pdli, corr, mygn, and the btk itself who have channelled bollingers, i think if the retest of a 20ma holds(512 btk) and turns back up ya gotta consider long.
some things to watch for, sto's went to ob, and if this is to be channeled would turn down. we then watch for mid levels to hold. we closed at the local high of 7-27. the green fib line is 564 coinciding with the 200ma, with the .5 fib at 528.
watch the rsi 14. i want to point this out. look at the april to june move. take notice that the rsi14 continually holds 50 as support. starting at 6-22 you can see how rsi struggled with 50. if the trend change is to occur, we should not dip to far below 50 if at all, imo.if you go back to sept/oct on rsi14 you can see a threshold horizontal in the low 60s
geocities.com
you can find candle forms on this site,
www.litwick.com
milesov |
