Thanks for the kind words folks. Terry, with regard to the sticks, when I first started studying them, I focused on trend reversal patterns only. There is too much to learn to try and tackle it all at once.
I'm a believer in the philosophy of it's better to know a lot about a little, than to know a little about a lot.
I thought reversal patterns would be better suited for my style of investing. Some people like continuation patterns, others focus on specific types of patterns, etc.
The important thing is to take it one step at a time.
On to PVN!
Higher highs and higher lows, very bullish!
Rising relative strength, again very bullish! Look for resistance at the 70 line, we may see some profit taking.
Cash flows are positive for the first time in months when looking at the 20 day money flow indicator. If you change to a 5 day indicator, you see heavy cash flows of +35. Very bullish!
The volume is rising, very nice!
Stochastics are indicating we are getting into overbought range.
stockcharts.com[h,a]daclyiay[pb200!b10!b150!b100!f][vc60][iut!ub14!uc20!lh14,3][J2664969,Y]
Fundamentally, this stock leaves much to desire. This move, in my opinion was technically initiated, hence my heads up call a couple of days ago.
However, for those who haven't read my views about Fundamental Bias, this will give you an idea of where I'm coming from:
Message 16849908
It's important to take the emotion out of investing, especially when using technical indicators. It's important that we keep our eyes and our mind open.
TRADE WHAT YOU SEE, NOT WHAT YOU THINK!
Sheriff bum |
