ZITL, best stock for traders Message Board

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Strategies & Market Trends : ZITL, best stock for traders

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To: blast_investor who wrote (1)	3/16/1997 2:45:00 PM
From: Craig Richards	of 26

MACD break out last 2 days signaled a buy. According to Dr. Alexander Elder, in his book "Trading for a Living", he says: "The slope of MACD-Histogram is more important than its postion above or below the centerline." The slope on Zitel changed on 3/6 - that was the buy signal. OBV has been flat even the stock tanked from $60 to $40, a big plus that big/smart money has strong confidence in ZITL and should move this baby up strongly. I think ACC/DIS is more meaningful than OBV. Accumulation/Distribution has been trending down for a while on Zitel. 14 days +DMI crossed over -DMI for 2 days, huge up momemtum. In looking at alphacharts, they have +DMI and -DMI, but no Average Directional Indicator, which is needed to confirm DMI signals. RSI has been below 30 past weeks. RSI is now above 50, the oversold condition ended on Thursday. In summary, I don't see the same bullishness based on the technical indicators you referenced. By the way, if anyone has any questions about the terminology used in this post, I recommend that you read the aforementioned "Trading for a Living" or another in depth book on Technical Analysis.

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