I figure everyone is sharpening their pencils and scratching on their scratch pads tonight, so here are some miscellaneous technical tidbits (me, I think this jump is entirely news related and that therefore technical analysis is still premature – if TA is an attempt to quantify psychology, then we really have the quantity: up 3 / 4 ; 23.5%; bullish.
The single most impressive indicator to me is the reliable, Chalkin Money Flow indicator, which closed above 0 for the first time since 2/10, at .2104. This should indicate the confirmation of a new up trend.
Closed above the upper short term (from 1/29) standard deviation.
Closed above the upper very short term (from 2/24) standard deviation. This one is just a shade from level; a little under turning from downtrend to uptrend.
Previous resistance was 4.129
Up past that, my guess is resistance will track the upper long term (from 12/15/98) standard deviation, or for 4/8: 5.63.
Its way up past my long green straight trend line from the center Bollinger band at 12/15 to the center Bollinger band today. It shows the long term trend is up; steady as she goes.
Closed above the upper Bollinger band by 33.1%, and now Bollinger bands are 36.65% wider than normal.
A big fat chubby healthy bright burning white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. . . . if the candle appears during a breakout above a resistance area (not quite – 4.125), the long white candle adds credibility to the breakout.
Currently the MACD is bullish since it is trading above its signal line. The MACD crossed above its signal line 2 periods ago-- buy.
The MACD is not in an overbought or oversold position
The RSI is above 70. This is where it usually tops. Not always an accurate indicator, especially with regard to sharp turns.
The stochastic oscillator is currently above 80. This is an indication of the security being in an “overbought” condition. Indicating one of the shortcomings of TA: it can't see the news.
The Chande Momentum Oscillator is + 41.1765. It shows an overbought condition when it is above 50.
The Chande Chart Checkup:
Overall the bias in prices is Upwards
Short term prices are Moving
Intermediate term prices are Trending
The projected upper bound is 4.94
The projected lower bound is 2.98
The projected closing price is 3.96
A “Stop and Reverse” buy signal was generated today. “If you are short, this might be a good place to exit.”
The current market condition for Ampex is Very Bullish
The close is currently above its 200 period moving average
The close is currently above its 90 period moving average
The close is currently above its 30 period moving average
There is strong confirmation from the short term trend and a current buy signal .
The Three Line Break chart has not changed.
Clear breakout of “Envelope” (jiggered moving averages of close to indicate upper and lower ranges)
Point and figure chart is positive, on it's second X
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