Hi Guys:
Well Cush, it's after hours so let's have a quick TA boo at K.
stockcharts.com[m,a]waclyymy[dd][pb50!b200!c4!c9!c18!f][vc60][iLl14!La12,26,9!Lh14,3!Lc20]
On the weekly chart for a year, the +DI has been on top since February, just crossing now. The ADX peaked out at 38 however so the trend was never very strong. Everything thing else turned down after the spike after 911. I consider that spike an anomoly, otherwise just looking at the chart for patterns suggests a big flag was and is forming and technically, it should break out to the upside. It's interesting to note that if you look at the year chart with daily closes the ADX tells a different picture.
stockcharts.com[m,a]daclyymy[dd][pb50!b200!c4!c9!c18!f][vc60][iLl14!La12,26,9!Lh14,3!Lc20]
In this chart, the ADX was barely above 20 since July and the stochastics gave good buy and sell signals. Notice though how that -DI turned down a little and the stoch moved sideways at the hard right edge. Could be just the goldbug in me seeing these things.
On the HUI, just as a chart pattern there is that beautiful head and shoulders formation Shack, and maybe it doesn't quite need to go all the way to your target if you're just looking at chart patterns, however, the result should still be the same.
If the US dollar weakens slowly with POG rising slowly, AGE and K may turn out to be the traders of the next while that the techs were for a couple of years. There certainly could be many days of 10 to 20% jumps in either of these.
Good hunting to you Cush. Take that Gravol for the waves Shack.
Regards
Bob |
