Thursday, February 04, 2016 9:02:04 AM
Daily chart shows the ebb and flow of the stock when the stock gets too far away from the ribbons it means the trend could easily reverse - see early 2014 and other examples. Greens are the long term EMA averages blues are the short term. Convergence means the stock is controlled tightly and trend could change quickly with the right news.
Here is a 120 minute ribbon chart. Our goal today to confirm reversal would be a break of the 20 period EMA that seems to control. See how it hugged the 20 and failed on the last run to $10.
The FTR is a good indicaton of which way the big boys are swinging and that is positive.
In Peace, In War
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