Indeed, the devil is in the details.
Just to be fair, I checked out the 700 Club website (via CBN.com: christianity.com|CHID101060|CIID,00.html).
No comment about the deal (still says "700 Club" is on Fox Family). Also no announcement about the new "666 Club", which would probably be produced by Disney's Mirimax division, nor the Mickey and Tammy Fay show. OK, OK.
Back to the stock. Mr. Chan (I presume) commented on the following chart:
Also the daily, weekly, and monthly indicators (stochastics and RSI) tend to point to oversold conditions.
stockcharts.com[m,a]maclyymy[pb50!b200!b20!a26][vc60][iUp14,3,3!La12,26,9!Lb13]
I agree that this shows a clear support around 27 and that the stochastics say oversold, but the same chart shows the MACD for all periods indicating sell, right? Plus, the actual stock price is below the 20, 50, and 200 day MA, which is a first-order indicator of bad things happening. But, you can take my TA knowledge and write it on the back of a postage stamp. . .
Steve |
