Well, so much for the double bottom you saw. I still don't believe in TA for micro-caps but here is a current view:
Bollinger Bands Indicator:
The Bollinger Bands are indicating an oversold condition. An oversold reading occurs when the close is nearer to the bottom band than the top band. The market appears oversold, but may continue to become more oversold before reversing. Look for some price strength before taking any bullish positions based on this indicator.
Mov Avg - Weighted Indicator:
Price is below the moving average so the trend is down. Even though the moving average is in an upward slope from the previous bar, the prices are trading below the moving average line.
MACD Indicator:
The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is DOWN. MACD is in bearish territory.
Stochastic - Fast Indicator:
The stochastic is in oversold territory (SlowK is at 8.27), this indicates a possible market rise is coming.
Volume Indicator:
The long term market trend, based on a 45 bar moving average, is DOWN. The short term market trend, based on a 5 bar moving average, is DOWN. Volume is trending lower. In general this is bearish.
Long Term Outlook:
The market is in a long term downtrend. Given a falling ADX line, the current choppy market should continue. Stochastics and %R are somewhat oversold, but have room to move lower. On balance the market looks bearish here.
ALL THE ABOVE BECOMES USELESS WITH THE FIRST WIFF OF REAL NEWS, PARTICULARLY ANY GOOD NEWS ON EARNINGS OR ITEMS LIKE SUCCESFULL LENSCRAFTER TESTS! LETS HEAR SOME GOOD NEWS FROM CAVIOR. |
