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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EWZuber
1,373 posts
msg #31469
- Ignore EWZuber |
3/20/2004 5:25:46 AM
NASDAQ has been an interesting study of trendlines lately.
Starting from the high of 1/27, 2/19 & 3/5.
Lately the downtrend has been accelerating. The next trendline starts on the high of 3/5, 3/19 & 3/17 while stochastics have reached 58.
Interesting though that Fridays volume has dropped considerably.
Also the index is oversold on the hourly chart at 5 and testing the lower trendline channel that has formed over the past 3 sessions as support on that chart.
This puts the odds at a higher close on Monday.
In this time frame Resistance is at 1,960 & falling.
JMHO
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TheRumpledOne
6,411 posts
msg #31479
- Ignore TheRumpledOne |
3/21/2004 11:53:42 PM
NASDAQ showing positive divergence on the RSI(2) daily chart... odds in favor of it going up... ANYTHING CAN HAPPEN!
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EWZuber
1,373 posts
msg #31482
- Ignore EWZuber |
3/22/2004 3:42:08 AM
Seems we are gaining a consensus on the NASDAQ.
EAG...Closed the session Friday above a 29 day TL Resistance on the Daily chart. this is usually a very significant development and puts the odds at a move higher first thing Monday morning. Also there was a stochastic +xover on the 30 Min. chart in the last Hour.
CCUR...With the 50 HR.MA flattened out it looks more like CCUR is about ready to move higher. The 50 HR.MA. served as resistance in the final hour of Fridays session so there is a possibility that it will drop to test the 17 Month TL. Support @ $3. This would be an attempt to take out stops and an opportunity for big money to pick up a few more shares cheap. If this should occur I suspect it will be very brief and it may be a good opportunity.
NENG...Looks very interesting and I suspect it is about ready to test the 50 HR.MA as resistance at $4.31. Looks like sellers are drying up, the stock is oversold on Monthly, Weekly Daily, and Hourly chart.
5 minute chart shows the 15, 25 & 50 period MAs as resistance while overbought. Short term support in this time frame is at $4.19. There is a huge drop to retrace so i suspect there could be significant upside.
What has really interested me in this is that on Friday it barely closed above a 4 Month Resistance TL. The longer the time frame usually the greater the significants.
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