EWZuber
1,373 posts
msg #29052
- Ignore EWZuber |
10/4/2003 10:08:59 PM
txtrapper
Friday DROOY hit trendline support formed from the lows of 8/7 & 9/4 that ended up at about $2.69 on Friday and was oversold at a stochastic value of 12 on the hourly chart when it hit this level. This would have been a good buy point for me too for a short term trade.
Rule 2520 has me down to only one trade left so I felt I had to pass it up because DROOY formed a Dark Cloud Cover candlestick pattern Friday and if I were to get forced out of it then I wouldn't be able to trade for another week and that really makes me unhappy.
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EWZuber
1,373 posts
msg #29195
- Ignore EWZuber |
10/9/2003 5:01:19 AM
Took a position in SPIL today, looking for a break from a consolidation pattern.
Think it was around $2.14 if memory serves me.
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lanninb
17 posts
msg #29196
- Ignore lanninb |
10/9/2003 6:15:04 AM
Zuber,
I enjoy reading your posts. You obviously have a lot of knowledge , particularly of the stochastic indicator and are willing to share. That in itself is a big plus .Keep up the good work.
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EWZuber
1,373 posts
msg #29197
- Ignore EWZuber |
10/9/2003 9:45:05 AM
Thanks. I hope it helps some people out here. I wasn't sure if the concept that I was trying to convey was getting across without the direct use of charts.
A correction about SPIL, that was @ $4.14. SPIL broke 1 month trendline resistance at about $4.11 yesterday.
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petrolpeter
439 posts
msg #29207
- Ignore petrolpeter |
10/9/2003 12:37:06 PM
Hey EWZ,LOOK showed up on a Parabolic SAR scan I veiw daily over at the filter exchange.Don't know if your still holding but you'might get a lot of it back,good luck.Pete.
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EWZuber
1,373 posts
msg #29211
- Ignore EWZuber |
10/9/2003 4:41:22 PM
petrolpeter
Thats the same thing i have been thinking.
LOOK is still very oversold on daily charts and has been doing quite well.
Considering the gains made off the bottom the stock did not sell off much when it became overbought on hourly charts. Now it's oversold on hourly charts and broke a resistance trendline on 5 minute charts but the 1 HR.MA ( 15 period MA on the 5 minute chart ) needs to flatten out a bit first.
I missed this earlier though, LOOK bounced up off a trendline formed on the low of 10/3/01 to 10/3/02 to the exact bottom of the gap on Tuesday morning.
I sold at 1/3 of the position @ $1.54 so damage could have been worse.
Thanks for the heads up.
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EWZuber
1,373 posts
msg #29358
- Ignore EWZuber |
10/18/2003 11:39:27 PM
Watching to see if NVDA holds short term trendline support at $16.50 ( & rising ).
Notice that since 9/30 the vast majority of the volume has been buying volume. I like the way this is acting.
Stochastic wave is starting the accumulation phase on Weekly charts. This should mitigate the distribution phase on the daily chart that has just begun.
The 15 DMA has flattened out and is being tested as support at about $16.60.
This is a substantial development. Also on hourly charts there is a 13 day trendline support at $16.57 and NVDA is oversold on hourly charts. These two indicators should provide substantial support here.
I'll be watching this support level very carefully. If it holds this could be a very bullish indication.
JMHO
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jthehut
124 posts
msg #29360
- Ignore jthehut |
10/19/2003 9:06:13 AM
Looks like the next "major" support level is at 15.70...and resist at 16.97
13 day ema is 16.95. I see what you're saying about the weekly stoch etc. but I don't see why you've picked this particular stock to be so excited since more tech indicators show a continued short-term down-trend probability than a good bull run...am I missing something here, like a wedge pattern forming?
M aka jthehut
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ItsL8rHere
2 posts
msg #29363
- Ignore ItsL8rHere |
10/19/2003 12:49:16 PM
can anyone point me in the direction to write a filter to use in catching an ADX crossover? Like the +D1 to cross -D1 with the ADX improving for a few days..new to the SF game.
Thanks
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JoeGrossinger
165 posts
msg #29364
- Ignore JoeGrossinger |
10/19/2003 1:54:22 PM
Of course stocks can always do the surprising move, but NVDA is a dog from my point of view. There is nothing there to recommend it.
One of the worst things a trader can do is anticipate a reversal. It's like predicting the end of the world.
This stock only knows one direction. DOWN.
It could and probably will do a short bounce from these levels because its oversold, but that is about it. OVERSOLD does not indicate more buyers than sellers, oversold, where the stock just keeps diving has nothing to recommend it. This stock tried to break out of a double bottom and failed, heading lower.
So the best you can hope for is a triple bottom formation in about a month or so.
The chart starts at the upper left and without break or letup goes to the bottom right. I don't need any indicators to tell me this stock only knows one direction. DOWN. It's sorry performance during a very bullish phase of the market is another indicator. It's not testing anything but new lows and most likely will revisit the $15.70 area again. From there it might struggle up to the $17.50 for another test. That is only a 11% climb and could take another month to complete.
It's a snorer. The Bollinger Bands have not come together, which means either the stock will continue to go down or it will take some time to base before making a substantial move.
It just recently fell below the 200 day average, the 50 day average is falling like a rock and the 20 day likes to stay below the 50 day. This is a bearish chart.
The weekly chart shows a real nice stair step to hell.
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