Ray
RTK: stockcharts.com
Okay, how do I do this so I don't sound like a nut case:
RTK is coming into sell territory...First off, no I did not buy the stock at 3.35/3.40 like I should have, it was crying for it as Alan pointed out, but I was powder challenged at the time...LOL
The reason for my statement of sell territory:
#1 the neckline at 4.75 was a breakdown from a prior run, that now becomes resistance.
#2 RSI is getting into the 70ish area, not quite overbought yet, but enough to raise an eyebrow.
#3 %k on the STO's are way ahead of the %d..this would indicate to me that there is a pullback coming before a run at 4.75 (where I would put a sell order)
#4 This is a 3.50ish stock that has moved to 4.65ish in less than two weeks, traders are going to be getting nervous...look for a big volume day with little upward movement in price, that would be the biggest signal that the music is going to stop, time to look for a chair, move the trailing stops up to less than 5% and don't look back.
#5 and something that I'm beginning to belive in is the %b indicator. Note that when Alan posted RTK being in a buy area the %b was perfectly positioned in the 0.0 to 0.1 area, now the %b is set at 1.0 (as sell indicator) and is being comfirmed by STO's and RSI..
I'll go into re entry later, time for dinner. LOL
Ken |
