To: All FYI,
ADX:
With today's close, (and up day), the ADX line has turned down, weakening the current down trend, possibly signaling a change in trend. This is an initial signal that needs to be confirmed, by other indicators. DMI is in bearish territory still, the distance between +DMI and -DMI is getting closer.(a cross over of these lines would give you a "buy" signal, indicating an "up-trend"
Ideally, one wants to see a cross over of this two lines, with the ADX line in a continued rise, if the cross over takes place with a weakened ADX, then all it means is a "chopy" market ahead, without a defined trend.
Supported by:
Slow stochastic, in oversold territory, has signaled a buy, its (K line) crossing over its (D) line. Positive
Volume:
Increased, particular on the closing hour or so, I wonder where the money is coming from (!)... a possible clue, is profit taking somewhere else in a related issue...
Closing:
Towards the highs of the day, however, we did touch 3.50 and then retraced, this could mean fair resistance, we must clear such resistance to go on up. Otherwise we may be just treading this tight range (3.00 to 3.50). Ideally, I would have liked to see, closing at 3.50 or better yet any where above 3.50.
Moving Average Convergence Divergence (MACD):
Indicator is in bearish territory, however, its own moving average (MA) has turned up, suggesting a possible short term rally.
Moving Averages:
21 day: $3.628 I wish we would have crossed it but no cigar, may be tomorrow.
91 day (13 week), important milestone. it is at $4.257, if we can reach this, then things will be looking better, possibly suggesting a return to our the 52 week high.
Japanese Candles:
From the Trade Station Help Manual on Candles:
--------------------------------copy starts:
A Doji Star is a warning that a trend is about to change, however, confirmation of either a Morning Star in the case of a Bullish Doji Star or an evening star in the case of a Bearish Doji Star is strongly recommended.
A Doji is a candle where the open and close are virtually identical. Therefore, a Doji Star is recognized by a long first body followed by a doji gaping in the direction of the previous candles trend.
Note: The Doji Star is the first two days of either the Morning or Evening Doji Star.
--------------------------------end of copy
YESTERDAY we had a "Morning" (or bullish) star. This is a sign of "Trend change" which seems to agree with the ADX line etc.
It is encouraging that yesterday and today, the market refused to go below $2.90 (intraday), and better yet, on a closing basis. (at least $3.00)
Obviously, the release of news would be very beneficial at this time because this "aparent" change of "mood".
I wonder if somebody knows something I do not, the market seems to be "whispering" in my ear...
What to do now:
Go take a shower, you all stink.
I am not about to tell anybody what to do.... I am not qualified, the above is only my interpretation, and opinion of what I see, and no doubt I could be wrong.... Tomorrow there could be a "reversal" etc.
Yes, I know TA applied to bb stocks, is silly, but what else do we have? ...news?
And remember... Technical Analysis is: 1/3 science, 1/3 art, and 1/3 VOODOO.
The Voodoo part is what is telling me that "all of a sudden" something is up, someone knows something I do not....
Anyway, good luck and DO NOT LISTEN TO THE ABOVE, IT IS PURE RUBBISH ANYWAY.
I was bored, nothing else to do so why not type some rubbish.
Oh and by the way, no more "funny" comments about animals, you stinking humans...
Z.
p.s. Some of you may want to visit this thread here in SI:
$$$STOCKS CROSSING THE 13 WEEK MOVING AVERAGE$$$ <$10.01
The first post in it is:
Message 3800565 |
