Andy, I know that some on this thread experienced the nightmare, when the last takeover went up in smoke...But I buy on technicals, and you had them on Friday...First of all the stock did a 180 on Friday, day before it closed in bottom 25% of daily range, Friday top 25% of range..Stock above 10 and 50 day moving average on day two..Secondly, it closed above major resistance at 22.12...Third, if you are a pattern player, you can draw a nice neckline at 20, and we closed above that level..Fourth, professional accumulation was apparent by the wiggles and jiggles going on...When the stock hit 23 intraday, the market makers continued to short into that area..As the stock started to retreat, it hit some momentum players stops, and the decline continued..Then the Market makers started to cover..I got in at 21 5/8
as they started to cover and take the stock back up...Fifth, you had after hour buys at 23.00..Sixth, my ADX moved up from 19 to 20, announcing the birth of a trend..+D1 is positive of course...
The only thing that will stall this stock from upside is overall market meltdown over Brazil...However, the trend is up, and I am on board until technicals tell me different...
and am looking for a minimum target of low 30's by Friday...
Congrats to all who are still on board...
Regards, Mark |
