Jeffery, Saif,
Stock is bouncing from lower ballinger band I a can measure 15 points move up from 44, could see 59, last move was from 39 to 54-55 area.
Not sure what envolope your looking at, but it is much different than my chart. The lower standard devation channel (utilizing a 21EDMA as defined by Perry Kaufaman, and popularized by John Bollinger) states that it bottoms at 40 5/16. Resistance of said channel is 48:
pipeline.com
We have not just bounced off the lower band, but have insted just bounced off resistance as of Thursday close and we are decling. If you were to use only the BBands to trade with they would undeniably say sell. Our upper trading range/channel is 48 to 55 7/8. For the last 2 weeks and one day we have remained in the lower channel, attempting only once to breakout into the upper channel on Thursday, in which we were pounded severly back down below 47 3/8 on close. Friday we continued our decline and rallied at the end of the day to close at 46 7/8 (still below thursday's close)....not good as far as a breakout into the upper channel was concerned....all momentum had been lost. Very Bearish.
Now, given the market conditions on Thursday and Friday, I must say that the above TA senerio using Bollingar Bands I have given can be flushed down the toilet.<GGG>
Starting over:
Bollinger bands have remained in the lower channel in the past 2 weeks, and made a bullish attemt to break into the upper channel. At that time, the NASDAQ market suffered a loss that could easily offset those gains that ASND was making, plus their was obviously some profit taking by some given that ASND had made recent gains and the market was starting to thrash. ASND lost SOME of the ground it had made in the recent week, along with the rest of the market (in fact ASND did quite well compared to others). At first chance given, ASND should easily climb above 48 and rally to my target short term target of 55 7/8. We have recent resistance in that area that corresponds to the BBands. Very Bullish (considering <G>).
Volume has been steadily declining last week and closed at 5.69MM shares...way below our 21DEMA-Volume average of 8.87MM shares. Being that Friday was a down day, this tells me that our bears quickly are loosing steam, and I expect a reversal in the imediate future. Very Bullish.
MACD Histogram has been rising steadily (even on Friday!) for the last two weeks. The trend is your friend. Bullish.
We are still below our 21DMA and 50DMA averages. We touched both (they are currently within a tic) breifly on Thursday and bounce (down) off of them. Bearish.
Smoothed Rate of Change (S-RoC) has been a very good mid-term (with ASND the S-RoC cycles about once every 1-2 months) buy/short indicator. We are finnishing up our down cycle, and have just started our up-trend (thursday and friday close equal off a down trend). Very Bullish
We had a divergence of the Ultimate Oscillator with price close an Friday...an oscillator divergence with price can often be a signal that a major reversal is due (especially when at a price low trend). The is bullish.
RSI is currently 46ish and turning down. Could also be intrepreted as insignificant or slightly bearish.
Sochastics are moving upward and recently crossed 20. Bullish early last week. Insignificant at the moment.
Overall is very bullish...I wish I picked up some more for cheaps on Friday....but am content with current holding (equalled only by COMS at the moment for $ value in my portfolio). I have cash and may get some more on Monday.
Now that the technicals are out, can someone please give a complete fundamental interpretation of ASND...including the whys and whats of the latest 8K? Thanks.
Paul |
