Registered User Joined: 12/2/2004 Posts: 1,775
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DNDN has a setup worth monitoring imo. Friday produced an inside NR7. Other positives: A relatively tight month long sideways consolidation with lowering volume relative to huge breakout volume early Jan. Volume during consolidation shows green for largest volume spikes, thus the increasing OBV for a positive divergence to price. Bollinger fans take note of about the tightest squeeze in past six months. Several support areas are nearby, some offering relative very low risk exits if setup fails for front running entries (especially for prudent partial initial position size). Price sitting right on top of 20-day sma may be acting as support, dove-tailing nicely with trend line connecting lows of consolidation. A wider stop might be just under horizontal lows of the consolidation. The 800 lb gorilla in room is the huge August gap, but that can turn into a positive by offering large area of lowered resistance if price can make a strong initial move over current 15.21 resistance. Last reported 24% short interest well above average, but we all know that sword can cut both ways. Mostly a technical purist relying heavily on price first then volume, but like to see a couple of Worden’s proprietary indicators verifying, such as BOP, MS.
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Registered User Joined: 12/16/2007 Posts: 6
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Nice call it did pop on the 6th it has pulled back sicne the pop.
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