TEAM Analysis
Technically speaking...
Candlesticks showed a bullish hammer formatiion on 9/29, the point of technical
chart reversal when the line connecting the highs (9/15, 9/22, 9/26) was crossed.
Note, I added this stock to my detailed analysis after someone suggested it and I
saw the double-bottom formation occurring on 8/14 and 8/29. Chart patterns are
one of the better leading indicators of potential growth (along with basic
funamental analysis) that I use to prescreen stocks before moving to detailed
analysis.
Bar Chart Linear Regression Forecast: Extending the line connecting the lows from
9/29 to next Monday, as long as the price stays above 14.125, its still in a minor
reversal.
Moving Averages: The 5, 9, 14, 26 and 50 day moving averages are all on top of
each other, prespectively, and climbing.
Commodity Channel Indicator: Above its moving average since 10/1.
Bollinger Bands: Between the moving average and the upper band for both
Highs and Closes.
Stochastics (26 period %K, Slowing 3, 5 period %D): Both the numbers are at 79%
and climbing since 10/1 - note: historically TEAM has a 5 % and 95% floor/ceiling.
Relative Strength (14 day, 5 day, weighted close): above moving average of RS - note,
used 7/21 as reference day for 20% RSI. 10/3 RSI was 59%, with reversal sigan at
80%.
Moving Average Convergence/Divergence (5, 9, 12, 14, 26, 50 day): crosssed signal
line on 10/1.
Rate of Change went positive 9/8 and increased 10/1
Performace, using 7/21 as the reference date (the day it tanked) went positive 9/5
and increased since 10/1
Bull Power: Went positive 10/2
Money Flow Indicator: Crossed above moving average on 9/30
TRIX: the 9 day (weighted) crossed the 12 day moving average on 10/2.
The Prive Volume Trend is still positive.
The Directional Movement (ADX, ADXR) went positive 10/3 - note, for the
technically obsessed, the directional movement also went positive (DX/+DI) on 9/29.
There are a bunch of other indicators, but historically the first 8 indicators above
(for TEAM anyway) are the best indicators of price movement, in concert with the
REI, of course.
TEAM is a trending stock, and therefore one applicable for analysis using the
Range Expansion Indicator (REI). Between 8/25 and 9/12 TEAM had a positive
REI and the price rose from $11.50 to $15.125. TEAM then had a negative REI
between 9/15 and 9/30. On 10/1, the REI turned positive again as follows:
Date Open High Low Close REI REI Change
9/30/97 14.000 14.125 13.562 13.875 (56.58) 20.39
10/1/97 14.000 14.125 13.750 14.062 29.38 85.95
10/2/97 13.875 14.375 13.875 14.375 100.00 70.62
10/3/97 14.375 14.875 14.250 14.250 100.00 0.00
Positive and/or increasing intraday highs indicate it may continue up. I usually
use the change in one's day's REI against the previous Day's REI to signal when
to watch for local minimums (occurred on 10/1). I didn't put this in the REI
spreadsheet I sent out, nor the 'change in the change' (acceleration), as it takes
a lot of practice and a long familiarity with a stocks REI pattern to adequately
assess those numbers. Getting in a 10+ and 12 you look to be in
good position.
...can you tell I really don't want to clean the basement right now?
lastshadow
ps - I read through some of your other thread posts - I am a guy...wait, let me check...
whoa!, yep, a guy. |
