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Registered User
Joined: 3/21/2006
Posts: 4,308
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This looks good to me so I bought at $3.75
I have been learning some new buy signals from the Bottom Springers club on the live chat forum, and this fits the pattern.
It is also bouncing off support from January. CCI & Stochastics are showing over bought territory and it looks like a hammer is forming..
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Registered User
Joined: 1/24/2007
Posts: 4
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Apsll,
I like this one too. I'm going to buy in first thing in the morning. I haven't had a chance to look into the buy signals you talked about, but I'd like to learn more about them. Would you mind telling us the signals you used to find this one?
~Persyeq
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Registered User
Joined: 3/21/2006
Posts: 4,308
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This security has the look of an emerging Momentum stock (I have been doing some research on successfull case studies in this area)
A good buy signal for these patterns can be found at the bottom of a pull-back when after 5 to 6 days of downward action you will see the revers candlestick pattern. I have a PCF designed to look for them - Percent True -
(c>o)and(c1<o1)and(c2<o2)and(c3<o3)and(c4<o4)and(l1<l2)
First you have to find the pattern, in this case the pattern proved itself on 01/04/07 after rising from the consolidation from November - December 2006
I would only enter MEMY at this point if it is rising above $3.95
Remember these are just my observations
Apsll...
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