EWZuber
1,373 posts
msg #30688
- Ignore EWZuber |
1/16/2004 4:13:37 PM
Closed EELN for a small profit. Hourly chart cycle was moving into distribution and the short term supporting trendline was violated at $3.20.
Held onto EGHT because the horizontal line at the break of short term TL. support was not violated @ $5.18.
During this distribution phase on hourly chart EGHT pretty much went sideways which is what I like to see.
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txtrapper
548 posts
msg #30693
- Ignore txtrapper |
1/16/2004 9:53:26 PM
EWZuber
EGHT...Yes is should be going sideways, it's in a 3m/d BB squeeze.
EELN...It may drop to $3.12 -$3.15 range, then up, buying has dried up for the last 5 days, and selling has dried up in the last 3 days, it may bounce to the $3.30 range Tuesday.
TxTrapper
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EWZuber
1,373 posts
msg #30717
- Ignore EWZuber |
1/19/2004 12:41:27 AM
TxTrapper
I agree EELN could drop to ~ $3.13 and I suspect possibly as low at $3.09 at a 2 day Supporting TL.
16 Day Supporting TL is at ~ $3.03 but I suspect the market would have to be really bad to put that kind of pressure on it, short term. I like to write these numbers down, then if it gaps down in the morning I know where it is technically.
With EGHT I see two wedge patterns that have emerged on the Hourly chart over the past 4 days. The first on 1/13 which broke to the downside.
Then another 2 day wedge that is of yet undecided.
The two together form a third larger wedge + 1 add more day.
Not the precision entry that I wanted but it might do.
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EWZuber
1,373 posts
msg #30729
- Ignore EWZuber |
1/20/2004 11:45:15 AM
Picked up EELN again at $3.08. Just about dead on the TL support and oversold on intraday chart. So far it looks good.
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EWZuber
1,373 posts
msg #30742
- Ignore EWZuber |
1/21/2004 4:22:11 PM
Sold EELN @ $3.29 as it broke TL Support on the 5 minute chart. Looks like it's going higher.
Was looking at RFMD chart today, so much for trying to guess ( gamble ) the earnings report by the previous days trading.
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EWZuber
1,373 posts
msg #30745
- Ignore EWZuber |
1/22/2004 2:00:44 AM
Looks like EGHT is about ready to move higher. Looks like the strategy here was to drop the bottom out of the stock to stimulate some selling volume. This will tend to purge weak hands and allow big $$ the opportunity to grab more shares at a relatively low price.
Even with this tactic there wasn't much volume today.
I suspect that within the next 2 sessions this one will start to move higher. It may drop it to test the 50 DMA @ ~ $4.81 first.
IPI is one that bears watching, IMO. The monthly chart stochastics are starting a new accumulation phase. When Weekly and Daily align in phase with Monthly again in an oversold condition I suspect it will move aggressively higher. Earnings have been improving for several quarters now and because of this volume has been pouring into the stock for several months now. JMHO
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wallman
299 posts
msg #30746
- Ignore wallman |
1/22/2004 7:52:03 AM
HI ZUB, if you go back to my 1-11 post here on this thread you'll see my mention of AEGN INOW EGHT as being at that time under very heavy bb pressure as they were at very long periods at the low of bb width,since then INOW is up 11%,AEGN 61%,as of now EGHT hasn't fired yet but i believe it should any day now,also i like your IPI,very heavy volume in last 8 days,4 straight closes out of the upper bb,the inevitable pullback from that,a few sideways days and now ready to take off soon imo,regards and good luck
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EWZuber
1,373 posts
msg #30757
- Ignore EWZuber |
1/22/2004 4:57:47 PM
wallman
AEGN looks like it wants to go a lot higher. Monthly chart is just starting a new long term accumulation phase. Wow!
Unusual considering the stock went through a 1:5 reverse split in Nov.
What i don'tlike about that one is that sometimes volume is low double digit.
Looks like EELN wants to move considerably higher. Notice on hourly chart how the stock is holding the level where the supporting trendline was broken. This is very bullish should this hold until the half hour chart becomes completely oversold ( and it nearly is now ). I suspect that next substantial resistance is around $4.50.
JMHO
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wallman
299 posts
msg #30758
- Ignore wallman |
1/22/2004 10:09:57 PM
ZUB,you're right about the volume on AEGN being low in the past,that's why with these tight bb squeezes like AEGN was in i like to see a volume jump like it showed on the 16th,with these it usually means there is more run to it,another example is DLGI which had good volume buildup on the 20th and 21st and at that time was at a 8 month low in bb width,it had huge vol today suggesting it can still go, also HIET today with 275k ave vol popped off a 12 mo low width with over 3 mil shares traded! NENG another big hit today was at 11 month low width with ave vol of 1 mil traded 8.3 mil today,so yes volume plays a major part in a stocks move,especially when they have been restricted so long within a low bb width
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EWZuber
1,373 posts
msg #30824
- Ignore EWZuber |
1/26/2004 4:50:41 AM
Looks like PAX could break a consolidation pattern before long. Selling volume still looks a bit high and stock recently sold off on a gap up as retail traders were set up by big money for a sucker play. IMO
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