It's instructive to see how much greater a picture you get with intra-day charts. On the basis of my end-of-day chart, I didn't see much hope that it would move higher tomorrow. My only reason for hope was that DNS hadn't gone down further than 6 and that the close was above the 21-day MA, even though it broke through the 9-day MA. I'm still quite skeptical, however.
The stock dropped, apparently, because the report was more guarded in its assessment of future quarters. In the past it's been very optimistic looking forward, and exceeded even its most optimistic predictions. I can't help wondering about this. Also buzzing around in my head is the doji on the chart a day ago, followed by today's black candlestick. Dojis can signal reversals. As you can see, a newbie's thoughts can be as tangled as the indicators in a BNS chart, but far less illuminating.
I'm pleased at least to see that I get similar plots with the BNS indicators. Even the RedLine proxy, stoch(8,3), looks close -- thanks for suggesting it.
Thanks, too, for posting your charts.
Brooke |
