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Registered User
Joined: 10/24/2005
Posts: 101
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EMC gapped down about 10% on high volume and ended up filling most of the gap by the end of the day. I'm thinking that this was a volume climax and it might climb from here.
Please give me your opinion. Thanks.
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Registered User
Joined: 12/7/2004
Posts: 393
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I'd wait for $9.50, then take another look.
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Registered User
Joined: 6/1/2006
Posts: 48
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I don't know, but I been told...
EMC is in a clear downtrend... I would look for a draw down to some semblance of support at around 9.5 (as previous poster said) then a rally off that, a pullback to better establish support and some kind of consolidation there, and then buy into that rally IF technical indicators show a turn around... and break above moving averages (short- and long-term) AND downtrend line on HEAVY volume. Right now all technical indicators look southbound to me. People holding this stock are dumping it in fear. No reason not to see it go down more... bottom feeding is dangerous. Wait for some change at least that shows a turnaround before stepping in.
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Registered User
Joined: 12/20/2005
Posts: 35
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dont try catch a falling knife
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Registered User
Joined: 1/28/2005
Posts: 6,049
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jryanweb
I agree with yweissberg.
I think you would do better focusing on strong stocks than trying to catch bottoms.
This maybe an area of support but this stock has gone nowhere for a few
years.
Thanks
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