| ryurow |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Tuesday, October 12, 2004 |
| Tuesday, August 2, 2005 6:28:01 PM |
7
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Wow, I was sure wrong on this one. Congrats to any one who was long in it.
Oh well, the game wouldn't be any fun if we didn't lose occasionally :)
happy trading
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I guess I have to agree with the previous two posters. At this point -- in my opinion -- this doesn't look like a long.
On the other hand ,it seems to be short term oversold. So there is a reasonable chance it would hold at about 16.70 or so.
If it were to move north, especially on increasing volume, then it certainly would be worth a second look.
best of luck-
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There is a nice reverse H&S pattern in the chart. From what I can see, the naxt major resistence level should be at 18.00.
However, it does look to be oversold at the moment. I would wait for a pullback, maybe to 12?? before going long on it.
Best of trades-
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In addition, PTR might not be too bad.
All of the above are ADR's
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Hmm, if it finds support at 9.00, I would go for it, otherwise forget it. The 25 day MA is at 9.02 and if it can hold there, it probably has good upside potential.
I don't like the volume of the past 3 day decline. There still may be some selling pressure that needs to be worked off. Also there is a very minor negative stochastics divergence.
Anyhow, just my two cents. Best of luck 
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Nice!
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Just some thoughts my very limited experience...
It seems that what you are seeing is not an effect limited to candle patterns, but one that occurs no matter which technical indicator you are lookin at, eastern or western. That is, technical indicatators are only valid for the time frame that they are calculated over.
For instance, the bullsh engulfing pattern in a daily chart may become a doji in a weekly chart. Which is correct? Well, Both!
The bullish engulfing pattern on the daily chart is indicating a short term buy. On the other hand, the Doji on the weekly chart indicates price confusion and volatility when looked at on a longer term basis. This really just an aplication of the fact that a stock may be in a long term down trend while in a short term uptrend. Or visa versa.
Hope this was of some use :)
ron
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