Robert, I recently opened a position in this stock and would like to give you my take if I could...I am a TA trader, I do not view fundamentals....First the positives displaying the uptrend
1. +D1=40 ADX=27 -D1=10
Observation....+D1 and ADX continue above -D1...Recommendation to stay on the long side..
2. MACD Histogram
0.148, 0.306, 0.372, 0.447....No stumble in uptrend seen yet
3. MACD---Last 5 days positive upmove
4. Momentum indicator---115,116,125,123,130---Still confirming uptrend
5. Prings KST---0.97, 2.98, 4.50, 5.70---Still bullish
6. Smoothed Rate of Change---97,101,103,107---uptrend firm
However, here are my concerns...We have an ascending flag formation which usually smacks of distribution...Volume needs to continue at 1 million shares or higher a day for me to stay in this one.......I peg 9 million shares of overhead in the 17.25-17.37 area...(we have taken out about 4 million).Then there are 9 more million shares of overhead at 18.12....Once we get through that mess it is a run to 23.00....But this is a true mountain climb for Winstar....If volume shrivels, we are dead....Further, a Zeevian principle that I follow(why I am still long as of today) is this: "As long as daily new highs are reached, and daily lows are not breached, the trend is still your friend."(New high today of 17.62 and low of 16.12 not breached, low was 17)
CCI, Ultimate Oscillators, and Williams %R are beginning to show a bearish divergence.....However, Relative Strength is not bearish yet...Stochastic is still overheated but has not come down below 80 yet....
Remaining on the fence and ready to jump if necessary......Mark |
