Now Mike,
I will give you a little T/A on what I think about a stock. Run it through your program an see if you come up with what I do.
The stock is FONX. It closed today at .375. Here is the way it was stacked at the close of the day.
On the bid side: .37, ..365, .36, .355, .35, .34 an I won't go lower because it probably won't so there is no need.
On the ask side: .375, .38, .385, .39, .395, .41 an upward.
Now if I was to ask you at what price do you think you could get in at, what would your program say. At what price would it tell you to get out????????? What does your T/As tell you???????
So let me tell you how I read it on a T/A basis.
The price indicator tells me that it has to fill a gap, the price momentum line tells me that it will continue to go down or settle where it is at. In other words won't go lower then .35. The MACD is up but weak. wants to turn to the down side. The ADX/ADR tells me that over the last few days, folks have been selling. Therefore the stock has been taking a hit. Price going down. Stochastics back that up. Money flow index also backs that up so therefore I would put a bid in at .35 or .36 tops.
Now the question is where would I get out. Hummmmm, now there is the perplexing question????? How greedy are you????? How much risk do you want to employ??????? So here is where I read the exit. Looking at the price indicator, I know it is good to .40+. So if you want to make 250.$ or 1g every 7 trading days that is up to you. Get my point??????????? Now the only thing that can corrupt that is current events. No one has controls over that, that is why you protect your self. You have a holding position.
So run it through your program an give me your take on the T/A side of it. Myself, I will wait for the boards post an see if I am right. I think tomorrow I can get this at .36 but it has a chance of hitting .35.
I'll put a bid on this tomorrow if all is is right @ .36 unless the board changes before the open.;-)))))
Ron |
