You might get a bounce at 614, the previous low back in the Spring.
Todays drop was on higher than usual volume. Theres a fairly nasty black candlestick today. Looks like its forming a descending triangle using the Spring low, probably indicating a move to lower prices.
Indicators are very low now but none have turned uphill yet.
Wait for it to turn, with a decent volume if you decide to go for it.
Todays drop was on higher than usual volume. Theres a fairly nasty black candlestick today. Looks like its forming a descending triangle using the Spring low, probably indicating a move to lower prices.
Indicators are very low now but none have turned uphill yet.
Wait for it to turn, with a decent volume if you decide to go for it.
In the toilet Cookie !!...... to quote good old fashioned TA. Been in a downward trend for a long time. Stochastics bottoming out, broken through lower resistance on Least square, could mean a bounce. Only my inexperienced opinion (Watch it fly) prefer WOLV in this sector.
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Col
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Col
Hi Cookie,
Can't see anything cheerful on the charts...nothing indicating a strong/sustained reversal..only that the price has crossed the lower bolllinger band and RSI is well below 30..this usually indicates that the trend may reverse itself..so a bounce might be expected at around the year low (614-620)as Cidar also said..only I wouldn't rely on this bounce unless I get the support of a second indicator - on balance volume and/or money flow index- in this case..
In conclusion I wouldn't rush on this one without very positive news...resulting in high volume..with a negative market sentiment it can even create a new year low...be careful and good luck..
Can't see anything cheerful on the charts...nothing indicating a strong/sustained reversal..only that the price has crossed the lower bolllinger band and RSI is well below 30..this usually indicates that the trend may reverse itself..so a bounce might be expected at around the year low (614-620)as Cidar also said..only I wouldn't rely on this bounce unless I get the support of a second indicator - on balance volume and/or money flow index- in this case..
In conclusion I wouldn't rush on this one without very positive news...resulting in high volume..with a negative market sentiment it can even create a new year low...be careful and good luck..
JohnTurnbull
Newbie
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