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> I'd like to ask any of you folks so inclined to take a look at the above
> MACD example, and tell me if it looks to you, as it does to me, that this
> particular MACD seems to **shout** that this stock is imminently heading
> higher. I view it as about as near a TA certainty as one could ask for.
>
> Is there anything that you would add from a TA standpoint, saying, "Ahhhh,
> but my young Nicholas, have you also considered the .....??"
>
> Thanks,
> Nicholas
My young Nicholas, Ha, I always wanted to say that !!
Here's my 2 cents, and of course, that's all its worth.
The MACD certainly is/was on an uptrend, but IMO the direction is still
bearish. It may it turn upward for a short while, but if it fails to exceede
the last high at ~$1.95, then the trend is still down. Attached is a chart
showing how I would initially look at it. As you can see it just broke below
its upward support line that started on June 24.
One could almost say that it is a reverse head and shoulders formation, but
I'm not convinced. The quick retracement in the last few days is not what I
would want to see there. IOW <> a drop below that right shoulder at $1.55
would probably confirm for me that there is more downward territory to be
had.
This stock would not be one I would be intereted in today. This is not to
mean that on news it cannot move quickly. This is a small cap stock and any
news could cause it to swing fast in either direction. I am only saying that
to me, technically, it is not a consideration. Hope that helps.
Anyone else?
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