EDIT
AMLN
Dave:
Tell me what you think:
A line from the highs of 10/10 and 1/5 seems, to my naked eye, to have been the problem today at 3/8. Normally, I would welcome such a line: It means that resistance, if cleared, will leave room to run. In this case, till 5 3/4 and then 6 1/8 (the next two downtrends).
What bothers me here, however, is the 20dMA. I know a) a lot of people follow it, and b) it's been sitting on this stock like a wet blanket since November. Today, by rough eyeballing, it seems very close to interesting both price and sharp downtrend specified above.
I don't know what this all means, but it makes me wary. A significant ruffling of the waters tomorrow and I'm out.
Maybe.
Ivan
PS: Have to say, though, this is behaving like a vewwy, vewwy good wittle cat. Ideal now, IMEXTREMELYHO, would be one or two more days of steadily decreasing volume, followed by a V-shaping response in the volume bars over the next three to four days, then a big blowoff-top day taking it up the final x percent and giving the signal to exit. First two days have been picture-purrrfect. |
