Re: partially off topic of thread
Bosco,
let me give You some pieces of new TA info. On ADTN, daily chart on Silicon Investor clrearly show a wedge type formation. Volume is drying up and price movements decelerate. The bars get shorter every day. This of course cannot go on forever. (Larry Williams idea). "The market (ADTN) needs time to gain strength for the next moves".
Since the wedge is a trend-coninuation type of formation I suspect it will go further upwards. If volume just increases modestly to its previous average levels, ADTN could go up like a rocket.
On AMTX I got mixed news (with conventional TA - not candlesticks). Long term trend still up (monthly chart). Here all my 4 indicators (MA / ADX, Williams %R, TdeMark REI and Bollinger Bands) are in OPVERSOLD territory (imagine oversold in Uptrend !). The medium term (weekly) states general downtrend, however all the indicators are in OVERSOLD area, too. Also here (weekly) a bullish-key reversal off a 9bar low took place this week so far, which might suggest some bottoming out. The short term (daily) is a different story. Here, the Bollinger Bands and Williams %R are in oversold territory. However, Tom deMarks Sequential trading method (sometimes called "buy 13", a pattern matching algorithm) suggests that the ultimate low might be reached within the next 2 weeks. This means (AMTX): wait at least up to the beginning of May for any bullish position. Range to look for is the $8-9 level. Support at 7 1/2 and even more solid at 6 3/4.
Greetings,
CROSSY
BTW: for clarification: I use 2 TA packages (Omega Supercharts: conventional & download) and IPTC's Candlestick Forecaster. They are 2 seperate products. |
