Relax, guys/dolls...ORCTF broke ABOVE 50 EMA, on good volume, just now...SECOND TIME in just 5 trading days!!! Tis a verrrrrrry positive Technical Sign for us chartists.
FWIW: I just bot my first 30% position based on my chart studies last night. In point of fact, I'd never heard of ORTCF until about 2AM PST THIS MORNING! Fortunately, I bot during this last little selling spasm...(seems to be running it's course...)
Furthermore, ORCTF seems to've completed its first round of profit-taking after the DT demo (is that show still ongoing?)...
by holding steady between the 50% and the 38.2% Fibonacci retracement points:
(Low side 14ish, high side 18ish...
multiply % of sum(Hi minus low); then subtract results from the high--if we're dealing w/a rally.
Otherwise, results are added to the low if we are dealing with a sell-off)
All this 50 EMA and Fib calcs has taken place AFTER 2 days of trading outside the 2 std deviations aka Bollinger Bands/Envelope.
This has basically worked off that over-exuberance 4 and 5 days ago.
My live interday Accum/Distribution, showed distribution
alllll the way through this mornings upthrust...and accumulation throughout all this little sideways spasm. Showing SOME dist. right now but... all we need to avoid a "SHORT TERM BEARISH key reversal on the daily TA chart is ANY, I repeat...ANY positive close in the stock today!
Final piece of the TA puzzle:
William's %R turned up ystdy!!!...a very good sign that the very short term oversold condition has been rectified.
We now need a convincing breakout, or else the "trading system boyz" will cream this on any close above $18.75...
Once we get thru there, this puppy is projecting mucho mucho higher.
Hope this helps some of the frazzled nerves out there...
granted, I don't know except what I read and reviewed on here last night and the TA leaves I'm sharing...but it is usually enough for me to make money...Hope y'all do also...
BTW, I'm showing a Dow PIR newswire story just now...any ideas? I don't have that live newswire feed.
I'm seeing bid ask spreads widening back out to 25 c...was 62c wide earlier this am...whew!!!
Good Investing/Trading to us all...this looks like the "real mccoy!"
O/49r |
