John, I will not be giving buy and sell prices anymore, because imho, it is pride that causes you to list them anyways...You want others to like you and think you know what you are doing....I would just rather post the TA and you will probably sense by the post whether I am long or short...
O.k. here goes...
The Most reliable trading indicators for GRNO in the past have been
1)Trix and Moving Average of Trix---Neutral
2)Stochastics---Neutral
3)Variable MACD---Still in sell mode
4)Time Redundancy---Just issued a buy today at 6.25
The stock is still in a downtrend mode...For us to change this downtrend, the stock will need to move above 6.80 at the close....
Average volume the past 12 months has been 39,267
10 Day Volume=35,620
5 Day Volume=16,660
3 Day Volume=34,266
As you can see, volume is just giving us a sideways motion picture...
Nothing interesting here....
MACD---still in sell mode---Remember though that MACD is a coincident or a lagging indicator....
Here is why I am calling the low at 5.87.......My Oscillators are in a bullish divergence with the price....
Price Rate of Change 4/10/97---- -24.8048 Price 5.87
3/18/97--- -31.944 Price 6.12
Ultimate Oscillator 4/7/97----- 33.9892 Price 5.87
4/10/97----- 36.9292 Price 5.87
"If prices go to a new lower point, but the indicator does not go lower than the previous low, it is a positive sign for price"
The stochastic oscillator is at 18....If it moves above 20, it will confirm the upmove....
Exponential Moving Average:
10 day=6.29
21 day=6.53
50 day=6.18
100day=5.09
I would like to share with you an interesting Day Trader strategy that plays around the 21 day and 50 day moving averages....
A) Today's range is greater than the range of the past nine trading sessions...(high vs. low)
B) Either yesterday or today the stock is trading at or below its 50 day moving average and explodes higher...
C) Set buy 1/8 above explosion day high
D) Set tight stop below Explosion day close...
All in all we still don't have a new uptrend confirmed....But the oscillators are saying that something good is going on that we don't know about yet....By next Friday you will either be throwing tomatoes at me, or saying, maybe this TA stuff does have its benefit....Take care, and all the best to the faithful and GANG OF TEN......Mark
Regards, Mark |
