EWZuber
1,373 posts
msg #31441
- Ignore EWZuber |
3/18/2004 5:09:09 AM
wallman
MRKL, looks interesting but was uncommitted at todays close. It came up against TL Resistance formed from the high at 10:00AM yesterday at $1.90. Within the last 10 minutes of the session it tested this TL and dropped just a tad.
Also it broke TL Support of a wedge pattern that has formed over the past 7 days on the hourly chart.
Normally I wouldn't put much weight to this break of the supporting TL in this particular pattern but with markets in a downtrend I like to see the break of TL Resistance first before comitting.
It's very tough for me to say which this will go tomorrow morning but I suspect it is going lower. In say this because the buying interest just hasn't been there and when I am undecided about a stocks direction the volume bars usually rule IMO. Yesterday the 50 DMA was confirmed as resistance and today the 25 DMA was confirmed as resistance.
If it manages to make a big run, I see resistance at the TL Resistance at $1.81 ( & falling ).
MDDM, This one is testing a Resistance Trendline also at the close. It is oversold on Hourly chart so odds favor a move higher but only to test resistance. It looks like it will drop tomorrow morning because it is testing TL Res. and is overbought on the 5 min. chart and also on the 30 Min chart there has been a recent -xover of stochastics. Right at the close it tested the 2 HR.MA on the 5 min. chart ( 50 period MA ) and bounced down.
I suspect by the time this Hourly chart stochastic accumulation phase is over the stock may rise to test a resistance level but I can't tell yet if that will be higher or lower than where it is now. What I really don't like about it is that it has broken the supporting TL on the Daily chart with a -xover stochastic confirmation. This typically indicates distribution phase is under way.
The big volume spike on 3/15 is not what it may appear to be. It was early buyers selling into strength.
JMHO
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EWZuber
1,373 posts
msg #31442
- Ignore EWZuber |
3/18/2004 5:14:45 AM
CCUR looks ready to move higher tomorrow morning. It closed the session breaking both TL Resistance and the 50 HR.MA.
JMHO
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txtrapper
548 posts
msg #31444
- Ignore txtrapper |
3/18/2004 10:02:06 AM
MRKL.....up $.07 at the open.....good call Muddy with or without TL Resistance.
TxTrapper
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travlr
80 posts
msg #31447
- Ignore travlr |
3/18/2004 12:29:46 PM
Regarding MRKL, and the Supporting TL break yesterday at 10:30…
Could this price spike(downward) be considered as a "shake-out"? When the big boys take out the near by protective stops in order to loosen up shares. If so, this then could be construed as an indication of potential institutional accumulation.
I usually see these during basing patterns prior to upside break-outs.
Thanks,
travlr
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EWZuber
1,373 posts
msg #31449
- Ignore EWZuber |
3/18/2004 2:44:03 PM
travlr
Yes. I have been seeing this often lately. It serves the same function as a handle on a cup w/handle pattern.
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EWZuber
1,373 posts
msg #31450
- Ignore EWZuber |
3/18/2004 2:44:51 PM
txtrapper
Give it a rest.
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wallman
299 posts
msg #31463
- Ignore wallman |
3/19/2004 9:29:29 AM
watching INGN ATSN NOOF CIEN CBTE CRIO HIET
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EWZuber
1,373 posts
msg #31464
- Ignore EWZuber |
3/19/2004 10:51:29 AM
CCUR did move higher this morning up about 8%. Selling at resistance was the only way to catch the rise as it didn't last long.
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EWZuber
1,373 posts
msg #31465
- Ignore EWZuber |
3/19/2004 11:13:12 AM
Just spotted MWAV. Looks like it may be getting ready to move higher. It is getting oversold on Hourly chart, and selling volume has dropped dramatically and is testing the 15 HR.MA as support.
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EWZuber
1,373 posts
msg #31466
- Ignore EWZuber |
3/19/2004 3:36:52 PM
MWAV ended up as a short daytrade with entry @ $3.55 on the break of TL Res. and closed at the break of short term TL Support @ $3.65. It later also broke support of the 15 HR.MA @ $3.60.
Right now it is testing the 25 HR.MA as support @ $3.28.
Wouldn't be surprised to see it test TL Support @ about $3.09 ( & rising ).
JMHO
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