TA REQUEST: DRNK (currently at 3 3/4)
Ok, my first request here, so I might be completely off-base.
Anyway, as you suggested doug, I've now moved on to playing with stochastics.
Here's what I see with this stock:
THE TECHNICALS:
1) MAs: ALL (5,8,13,21,34,50,100,200) are in proper bullish alignment. On 10/31 they broke out from being converged into a proper spreading out, increasing formation.
2) RSI: ALL are increasing
3 day -- since 10/28 has made higher lows. Though right now it is maxed out (don't know what this means...)
13 day -- crossed 50 on 10/22, now up to 80
21 day -- crossed 50 on 10/29, now up to 70
34 day -- crossed 50 on 10/27, now up to 62
55 day -- crossed 50 on 10/22, now up to 80
89 day -- crossed 50 on 10/29, now up to 70
3) Stochastics:
4,3,2 -- since 10/10 (last low) has made higher highs, higher lows. crosed 80 on 11/3
21,13,13 -- uptrend from 10/10, just crossed 80 on 11/5
89,3,5 -- accelerated from low on 10/10, again crossing 80 on 11/3 (though now maxed out.)
144,13,8 -- steady uptrend from 10/10, now at 71
BOP: since about 10/27, BOP has been showing strong accumulation. Moneyflow also seems to support this.
TSV: the 18 day TSV also supports this trend. On 10/17, TSV broke the '0' line which is a bullish sign. On 10/27, TSV retested this line but did not break below it, instead bouncing off it and now has steadily been increasing (it is now at 47).
THE CHART:
In june the stock made new highs at around 4. On june 24, the stock dropped rapidly to about 3 1/4 and since then has been basing, creating a double bottom but since 10/17 has accelerated rapidly through the first rally attempt and is now at 3 3/4.
If the resistence at 4 can be broken, we could be looking at a major breakout. Since the technicals look pretty strong, this might be quite possible. However, the resistence at 4 means a probable testing period before breakout.
So, what do you think doug?
Thanks!
-dave |
