MACD has been good to me....How about You? Message Board

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Strategies & Market Trends : MACD has been good to me....How about You?

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To: TLindt who wrote ()	12/13/1999 9:19:00 PM
From: Walkingshadow	Read Replies (1) of 1109

TLindt and August, Please have a look at the chart on EFAX. Greg Mullineaux brought it to the attention of Vendit's thread today, but it didn't do well (down 8%). But, I'm not sure we've heard the last of this stock: askresearch.com My take (correct me if I'm wrong): Stochastic crossover occurred very low (10!); MACD signal occurred next day when histograms changed from negative to positive, and have increased in magnitude over the last 3 trading days, pulling green line with it. OBV and Williams have turned downward, however. On the intraday chart, there was a wild first hour (quick gap up, just as quick sell off), but the stock held its own for the rest of the day, and didn't really dip below the 50 min ma. Support now seems to be about 9. Seems to me the combination of the stochastic crossover occurring so low, followed by the strong MACD signal suggests that this stock is primed for an explosive move upwards soon, irregardless of today's 8% drop. What do you think? Thanks, WS

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