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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Susan G who wrote (92584)4/10/2000 7:02:00 PM
From: Jenna  Read Replies (3) of 120523
 
marketgems.com AUDC.. AUDC had a typical chart of the stock that is moving up as volume is moving down. Today the Israeli stocks were, for the most part bullish, but AUDC was not displaying the high ADX (directional movement indicatory above 25) that is indicative of a strongly uptrending stock.

On its fourth day of advance, AUDC reminded me of ELNT but it had glaring differences. For all the previous uptrends, AUDC had an up market climate and market directional indicators were up. Now AUDC was fighting a down market, on low volume (30% less than average) and dwindling activity (the doji was important). AUDC was heading to the top of its standard deviation channel, not bad the rest of the market was favorable, in this case it was miserable.

AUDC reminded me also of the doji on PWAV before it too collapsed. AUDC just looks like the candle with one last flicker before it fades.

Another observation is that unlike many stocks, AUDC was trading above both its 20 and 10 day moving average on the daily chart and that could not go on indefinitely especially after 4 consecutive up days.

A final point is the 10 day moving average should have crossed the 20 day moving average, but you could live with that if all the other signs were not there. So AUDC looked like TLGD, which in turn looked like ELNT.. (overblown).. So I decided to short it. Historical price patterns are very important which is why I would never short a stock that I was not trading in the past both long and short.

I won't even go into the intraday chart, I look at the daily chart for shorting, the intraday only to time entry and the Level II if I want to see blocks of buyers and sellers.
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