Joe and Mike
Before you two get too exicted and start dancing around in little circles singing "we shall over come" take a look a this.
stockcharts.com[m,a]daolyyay[pb50!b200][vc60][iUb14!Lp14,3,3]&pref=G
NXTI MUST go over that pesky 50dMA on strong volume in order to start any new uptrend. Note that it has attempted this a couple of times, but failed.
The thing to watch for here IMO is that 50dMA vs the STOCHs overbought oversold. If the present oversold condition becomes overbought and the price still has not surpassed the 50dMA then the stock will go down to test the 200dMA...If that happens then you have a brilliant bounce trader between the two averages.
Now, lets look at the long period for the topside, in case the dream does come true.
stockcharts.com[m,a]waolyyay[pb50!b200][vc60][iUb14!Lp14,3,3]&pref=G
The overhead 200 period moving average is coming down, presently at 1.50 and that is where I would expect the stock to have another problem if it does break over the daily 50dMA...I know..."but it went to 1.75 before!" But, it did'nt hold it, did it laddy, because the move was an event driven rally.
The stock needs another event! And this has been my attempt at humor, think I'll stay with TA...LOL
Ken |
