Amigos y amigas
magnets for OPEN and NM
OPEN: .8125, .95 downtrend, .98 downtrend, 1.17 downtrend, 1.2188 quarter zone, 1.38 downtrend (key downtrend, long term and top downtrend, 1.23.96 to 4.24.96 connect tops), 1.625 weak, 1.875 weak, 2.1875 uptrend, 2.375 weak, 2.50 weak, 2.6875 weak, 3 weak, 3.50 strong....
Currently OPEN is strong but overbought short term. CCI 13 over 200 is generally considered overbought. In OPENs case it is above 200 but appears to have reset and wants to move higher. If it gaps over that long term downtrend line at 1.38 I am getting it for a short term trader. Will hold part of position as anything bought around that downtrend line will be the best entry for a position trade.
NM: 10.125 weak, 11.375 weak, 14 weak, 16.10 uptrend, 17 weak, 17.25, 17.375 uptrend, 17.50 long term downtrend (not a magnet trendline)
strong overall, not overbought. I am going to try to buy near support. It is near overbought so entry position is critical here.
CNGR resetting nicely, i expect good things next week
ht
david
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