Gotta yield on the 13 week trend. Still down, not drastically, but nonetheless. See the MACD(9-day trigger) cross-down a week ago, but it looks like it's gonna stick pretty close. Recent history does show some additional downside for it though, maybe to -20. It was definitely a sell, but MACD was too slow to match the internet fervor the week that sector flew.
My 5,3,3, exp stochastic oscillator comes up @ ~50, but moving up pretty quickly regardless. Expect it'll be oversold again in 2-3 days. I thought the positive action this week came a little early. Maybe a preemptive bounce, but not quite off of the bottom. And, yes, the weakening volume makes for a weak price recovery off of 1 1/2.
Where do you define your trading channel?
I'm weak on fundamentals, trying to watch the thread here for solid clues on their products and following up on them. But mostly watching the charts.
Been using a superimposed ADR-ADXR 8 day to indicate trending buy/sell periods. Right now we've passed the sell point & we're waiting. It's not the best match on QDEK 'tho. What I look for is when the gap starts to converge after being large. Let me know if you look at this, as I have some more thoughts on it.
CCI8 had been great for signalling sells, 'tho not buys...kinda moving through a mid range...I'd like to see it and especially the RSI8 to be oversold again like it was prior to the run to $3.
OBV is starting to come down, the uptrend, now clearly, due mostly to the volume associated w/the run.
The picture has definitely changed from a week ago. At that time, I thought we'd see the price start to run up again after a bottom somewhere south of $1.50. Now I'm not so sure. Especially w/continued weakness on the trenders, & oscillators neutral to down.
What I'm trying to do is throw out or normalize the data from the run up...just estimating...that would've left most everything in an oversold condition waiting on some real news, not just market sector sentiment (aka. the Herd). If you could throw out the recent run, I would see the price continuing down to the 1 1/8-1 1/4 level.
Gonna watch the chart closely. Looks like we need to find a true support level as the oscillators find the bottom again & trenders level out. I'll keep tabs on any upbeat sentiment here too. Keep in touch, sorry for the length. I was excited to be able to actually discuss TA w/someone...:-) Let me know if you see any aberrations...LB |
