RWS,
On an 89, 3, 5 basis TKOCF became a buy on the first uptick on 12/30 since volume was supportive at the time and the 89, 3, 5 was at 80 as of the close the day before. Now that the move off the buy signal is under way you have to go to the 13, 8, 8 stochs to judge what kind of staying power it has in the short term. Now this is where it gets "fun". The 13, 8, 8 is turning over just as it is itself crossing over 80. That tells me that the top of this bump up has arrived. To make sure of that, you have to go to the 4, 3, 2 stochs which is set up to either turn over or kick off a knee. To determine which is the case you then need to move to the 3, 1, 2. The 3, 1, 2 is not entirely encouraging but gives a bit of room for TKOCF to move up some intraday on Mon. The whole view here indicates that after a little move up, TKOCF will close down or unch for the day and a pullback will start. As that occurs, the 3 dRSI will set up some kind of pattern that you should be able to recognize and capitalize on if it breaks out while you see a hinge form on the 3, 1, 2 or 4, 3, 2.
For an idea of the likelihood that a series of moves up is in progress, monitor the 233, 21, 34.
A look at the long term trend (that has one possible acceleration so far) in the MACD gives the stock a few more months of work to do before anything serious will result.
As far as MIM possibilities are concerned, in order to remove more subjectivity I have just added a technical doodad to supplement the chart qualifications. It involves the 89, 3, 5 which MUST reach over 80 on the daily chart on any previous reference high that can also be differentiated on a visual basis with a chart of monthly closes. This would require TKOCF to reach over 5 7/16 on this move in order to establish a MIM. I may adjust it to be a move of the 4, 3, 2 over 80 on the monthly chart. I'm still working on it but it looks like the 89, 3, 5 on the dailies gets the job done.
Doug R |
