I use both TA and FA, never just one. FA will pick up rising earnings, new products, etc. Once you think you have a possible stock to buy, look at TA. Is it overbought (stochastics often helps here), volume is rising?, Is it overbought or oversold? How has it acted at either end of the Bollinger Bands?
In any event, GECM seems to have good strength even in down mkts. IBD shows very good EPS and RS ranks.
The chart shows two bounces off of about 8 3/4, so I suspect that is a support test. I used that level along with some basic TA to call it oversold last time and got some at 9. It may settle some tomorrow, but if it rises some more I may set a stop. Right now, a stop would do me more harm than good, as I could get whipsawed out on a drop and then bounce up in one day and not much profit is involved.
Carl |
