I checked out the Kagi and TLB charts for BTGC...
The 1% Kagi chart, which seems to work pretty well for BTGC, looks like it will give a buy signal at about $7.75, so long as BTGC keeps closing higher each day until it breaks that level.
The 2-Line Break chart has already given a buy signal when BTGC closed above about $7.25. A uptrend would be confirmed by a close above $7.50.
The 3-Line Break chart, which is less sensitive to short-term trends, will give it's first buy signal on a close above $7.50, and an uptrend confirmation on the next higher close.
In other words, this looks like a good entry point... I may buy back into the market with this stock.
One thing I noticed on the Kagi chart; over the past 360 trading days, the down-trends have been steeper than the uptrends. If you sell short on the way down, that means you'd make a lot more money than when you're long for the ride up. In a CC strategy, for this stock, I beleive it means you want to write the 7.5 calls at the top, rather than the 10 calls. By writing calls deeper in the money, you take better advantage of the long ride down. But this is just a thought, not a professional opinion, and certainly not professional advice...
Doug. |
