James, I was just reviewing the current days chart of AXC and it appears we are in a downtrend for the meantime. As of today I would postpone purchasing the stock until it makes its move back into positive territory with a positive uptrend. There seems to be little buying to bounce the stock as the TSV(time-segmented volume) confirms the move downward. In other words, the TSV has moved below the ZERO line which confirms/indicates a negative convergance. This preceeds a downward move usually. This is also true in the opposite case. A move of the TSV above the ZERO line as the price falls can be interpreted as a BULLISH indication(perhaps a sign of a bottom). This in conjuction with other indicators(RSI-relative strength index,macd, and stocastics) give you POWERFUL TOOLS in determining the change in character of the a stock(ALL STOCKS/MOST STOCKS)!
From what I understand, TA IS adaptable to most situations no matter where you are in this universe! It is supposedly a scientific art. However, as in LIFE and in SCIENCE some things just cannot be explained in our lifetime, like predicting when(NOT IF) KM will make it to MARKET. But we can GUESTIMATE with certainty, that this stock has the POTENTIAL to make a WHOLE BUNCH of folks very,very WEALTHY!
The FIRST BIG HURDLE has been MADE. The ball is in their hands. Its up to the MAXTOR/AMPEX TEAM to FOLLOW-THROUGH! BEFORE YOU KNOW IT all the other guys/gals will be knocking down their doors to get this technology.
For all that I expect to see a fall to the 7-7.5 range before we see an oversold indication and a bottoming out, which in turn we will see some MAJOR ACTION(PROBABLY/MOST LIKELY). Unless, of course, we see another deal signed before it hits this level(PROBABLY/BUT NOT MOST LIKELY).
NECESSITY BRINGS SUCCESS AS THE SAYING GOES.
In my opinion, it is going to take a few quarters of EARNINGS before any MAJOR inflow of MONEY takes place on a consistent basis for this is what usually drives a stock. This is what its all about $$$$$$$!
IS IT NOT?
john anderson |
