Hey cush, your chart looks pretty much like mine.
stockcharts.com[L,A]DACLYIMY[DC][PB20!B50!B200!D20,2][VC60][IUC20!LA12,26,9!LD20!LH4,3]
SYB is slightly overbought on every stoch setting and I'll be waiting for a better stoch signal. However i am willing to buy in on a break above the 50-day SMA at $4.25 which has shown to be good resistance.
It might be a good idea to focus some of these TA discussions on the Moving Averages. I plot the 10, 50, and 200 MAs on all of my charts. Looking back, it's amazing how often the 10 day crossing the 50 day has been either a good buy or sell signal.
I agree. I watch how stocks behave as they approach key MA's. Look at the RIM chart here. stockcharts.com[L,A]DACLYIMY[DC][PB20!B50!B200!D20,2][VC60][IUC20!LA12,26,9!LD20!LH4,3] This stock has repeatedly bounced off of the key 20 day, 50 day and 200 day MA's. In June, July and August notice how the stock was finding perfect support at its 50 day MA and resistance at its 200-day MA? Then it broke its 200 day MA in late August and found support repeatedly at its 20-day MA during the strong uptrend. It has just broke this support level and I expect it will fall back to its 50-day MA at $133.
By the way, the WIN chart has been looking slightly better but I am waiting for a clearer buy signal. (the 10 day ma cross over of the 50 day MA for instance) |
