EWZuber
1,373 posts
msg #31511
- Ignore EWZuber |
3/25/2004 12:48:33 PM
Looks like BVEW is about to move higher. It's oversold on daily and Hourly while testing TL resistance. Looks good. JMHO
|
EWZuber
1,373 posts
msg #31512
- Ignore EWZuber |
3/25/2004 1:14:29 PM
walman
TNX for the heads up on DGIT. I have traded this one before. Picked up a bit just as it broke TL. Res. @ $1.09. Looks like first short term resistance is at the 50 HR.MA @ about $1.25.
|
EWZuber
1,373 posts
msg #31514
- Ignore EWZuber |
3/25/2004 4:06:19 PM
Also bought ASX again @ $5.17. I suspect Asian markets will trade higher and cause ASX to gap up tomorrow.
|
EWZuber
1,373 posts
msg #31515
- Ignore EWZuber |
3/25/2004 8:37:22 PM
Looks like NASDAQ 200 DMA was support @ 1900.
Next resistance looks like the 25DMA @ 1990 and the 50 DMA @ 2037. They are both in too steep of a downtrend to serve as support. So even with a good oversold bounce it would seem to me that considerable basing will be required for the market to actually go anywhere and hold the gains.
It will likely take at least from 3 or 4 weeks to a couple months to flatten out the 25 & 50 day moving averages so they can serve as support.
JMHO
|
EWZuber
1,373 posts
msg #31518
- Ignore EWZuber |
3/26/2004 2:07:33 PM
BVEW looks like its about to move considerably higher. IMO.
|
EWZuber
1,373 posts
msg #31519
- Ignore EWZuber |
3/26/2004 2:36:31 PM
ECGI looks like it may break out soon also. A close above $0.80 today would be a break of TL Resistance. 12 Month TL Support is at $0.76.
JMHO
|
EWZuber
1,373 posts
msg #31521
- Ignore EWZuber |
3/26/2004 4:13:06 PM
ASX was a big disappointment. It closed yesterday on a long term Resistance TL and this morning gapped down confirming it as resistance. Closed ASX at break even @ $5.19. Looks like it wants to retest support at about $5.05.
|
txtrapper
548 posts
msg #31524
- Ignore txtrapper |
3/27/2004 11:45:12 AM
EWZuber
If you add the *Heikin-Ashi Indicator to your current TL analysis technique, disappointments such as "ASX" could be avoided altogether.
*A trend indicator described by Dan Valcu in the February 2004 edition of "Technical Analysis of Stocks and Commodities Magazine"
TxTrapper
|
EWZuber
1,373 posts
msg #31527
- Ignore EWZuber |
3/27/2004 4:27:55 PM
txtrapper
Thanks for the suggestion but that indicator is not available on any charts that I use or have access to as far as i know.
It was a calculated risk. The only things i found interesting about the timing was that the stock had just bounced up off of the 25 WK.MA @ $5.05 and because I didn't want to miss getting in if this was near the bottom I decided to try it even though the technical picture was not compelling. The stock was rising during the distribution phase on Daily chart which is bullish but by itself does not present a compelling buying situation. Weekly stochastics were in distribution which adds to the risk but the big bearish indicator was the fact that ASX had gapped below long term trendline resistance making this a high risk entry particularly since the stock is traded in Taiwan after the close here. This makes gaps up and down common, adding even more to the risk.
Friday it tested the Supporting Trendline at $5.25 as Resistance and when i could see that the big Ask at resistance was not going away and was going to force a close below the Supporting Trendline it was time to bail.
Basically, I was hoping that the Taiwan market would drive it past TL Resistance but instead they sold into the strength generated in the US market.
Not surprising just disappointing.
|
EWZuber
1,373 posts
msg #31528
- Ignore EWZuber |
3/27/2004 4:36:39 PM
BVEW never broke TL Resistance but tested it several times, so no buy signal yet.
ECGI traded above TL Resistance @ $0.80 and tested the 25 DMA as resistance at $0.85 but needed to close above $0.80 at the end of the session. In the last hour sellers sold heavily into strength at resistance and drove it down to close at $0.79 so no entry here either.
JMHO
|