<<a sequential 9 up has been satisfied>>
good question, Gerard (and good job on the recent contest).
The Sequential signal has distinct parts that need to be satisfied. The first one, 9 consecutive days where the close was higher (or lower) than the close 4 days prior, is the "setup". The setup can continue for more than 9 days, and is followed by the 2nd part of the signal (if the 2nd part occurs). So, the answer is, "not according to the DeMark signal, since it is not completed yet."
Now before I get a few posts that call this "voodoo" let me say that I use this signal as one of several (TA and fundamental) when I am looking for an entry or exit point, and it has worked well for me. I don't anticipate exiting ASND in the near future. I think the same thing I thought the last time I was asked about the chart, which is there is strong resistance at around 38, and a straight shot to 46-47 once the stock holds at this level and forms some support. In other words, if "resistance becomes support" and ASND holds above 38, I'll be a happy camper. If I were short term trading the stock, which I am not, I would pay more attention to things like volume spikes, the overall market, news prior to earnings, and Sector Investor's song getting printed on the ASND thread. Actually the most significant overall "outside" factor IMHO is the fact that COMS came out with the crappiest earnings announcement imaginable, and a week later, the stock is up. Where did that anticipated revenue go? CSCO? ASND? BAY? The "street" (whoever that is) is waiting for April 9. The funds and big players that wanted ASND already own it. So I would expect a spike this week up to somewhere in the 43-45 range. Will it pull back? It has every time before, but the conference call will be a determining factor. If ASND makes some good statements in the CC, the stock is gone, IMHO. What does Tim think? pete |
