Bob, I am a technical trader..I don't get involved in politics on any thread...I bought this stock Friday at 1.75...Here is why:
Rectangle pattern of 50 cents by 1.50...Neckline at 1.50...Take 1.50 from .50 and you get 1.00...Add to neckline for short-term target of 2.50 a share....Stock filled gap on Friday by hitting 1.46, and then proceeded to hold above neckline at 1.50...This shows me strength, and that the move was not orchestrated...Furthermore, my directional indicators are showing a strong uptrending stock...My readings are +D1 at 36, -D1 at 14 with ADX moving up to 30....I like to catch the ADX moving up in the early 20's...The last 4 days ADX has moved from 25,26,27,29...I am using a 14 period ADX...
I held back on this one until Friday, since the volume had me concerned...Here is the concern, do you know of any warrant conversions going on? If not, this is a legitimate upmove, and more is to come...If there are warrants out there, I will be exiting soon...
The bullish scenario on the volume is this....Many times after a stock has gone through a long and painful downtrend, and then consolidates, large amounts of volume can then enter, without much upward bias...This is a sign of ACCUMULATION...That is my read, and why I entered, I now believe the volume was accumulation....
Regards, Mark
P.S. MACD Histogram last five days also demonstrating a trend..
0.18,0.022,0.038,0.067,0.074..... |
