Jerry: I suppose I feel that it still looks a bit iffy. I'm waiting for the price to close above the 21- and 9-day moving averages. It made an attempt today, but failed. Some indicators have turned up, including CCI and StochRSI. For non-techies, those are shorter-term indicators, but the fact that they're turning up is somewhat encouraging. Another encouraging sign is rising on balance volume, an indicator that compares volume to price change. MACD with shorter-term periods (5,35,4) is moving up -- again enouraging -- but has yet to rise above the signal line (one possible buy signal).
The stock needs something to lift it out of the doldrums, to move it strongly up past 12. That's where I see it lingering, if it doesn't have a strong day. With some good days, it could move back up to 14.5, but if it came under pressure again, it could still drop back to support at 10 -- or lower. All of which means nothing, of course -- just some spechnical analysis (which could be just some dust on me spectacles).
Brooke |
