Can anyone shed a little light here...this is a new technical situation for THQI.
When earnings are announced this week it will be the first time in at least 3 year that MACD will be substantially below zero (I'm referring to the MACD & it's EMA, not the current divergence level).
bigcharts.com
Previously we've gotten a nice run-up prior to earnings, but this time our little run will not get us anywhere near zero - with barely enough momentum to show a crossover.
My question is, do you guys think we're too far in the investor-sentiment hole to break all the way back to our "normal" area, around 30% above our 200 day EMA (we spent much of '98 near here) ? That would get us to around $27-28 in the near future.
This latest explosion/implosion (SL's "Batman's Head" formation) began near (just below) the 200 day EMA, raced up over 100%, then tumbled nearly all the way back to our new 200 day EMA, where we still sit (about 2 1/2 bucks above, thanks to recent movement.) When the last earnings report came out, we were on the way up from that trough, and had recently pierced the 200 day EMA. MACD was a hair below zero, but headed steeply up. Now we're a little below -1.00, with aforementioned recent crossover.
Any thoughts, anyone? |
