Sunday, June 28, 2009 9:00:50 PM
Re: COIN
Several indications that COIN is turning up. In my book, the condition here is whether RSI can remain above its trending line, or at worse within its 40-80 bullish range.
Regardless of RSI, price needs to peel off of its sticky down-trendline.
Some technical clues that the price may pick up from here on:
PPO - This line is making higher highs and respects its supportive trendline. As its histogram is also heading towards the upside, one may project some bullish underlying support to carry price to higher levels.
ADX - The D(-) has crossed below the ADX line: an early indicator that the down-trend may wane. So far, the ADX line continues to rally; look for it to return down following validation of its overhead resistance line.
Institutional Interests - There are some institutional interests expressed in per OBV and ChiOs. While OBV managed to remain over its 21-EMA line, ChiOs recently flipped back to the bullish side of its own 21-EMA. As far as the AD line, recent tracings indicate some tapering of the decline. Overall, these three institutional indicators are suggesting at worse sustained buying pressure, or at best a progressive buying interest.
D.
Several indications that COIN is turning up. In my book, the condition here is whether RSI can remain above its trending line, or at worse within its 40-80 bullish range.
Regardless of RSI, price needs to peel off of its sticky down-trendline.
Some technical clues that the price may pick up from here on:
PPO - This line is making higher highs and respects its supportive trendline. As its histogram is also heading towards the upside, one may project some bullish underlying support to carry price to higher levels.
ADX - The D(-) has crossed below the ADX line: an early indicator that the down-trend may wane. So far, the ADX line continues to rally; look for it to return down following validation of its overhead resistance line.
Institutional Interests - There are some institutional interests expressed in per OBV and ChiOs. While OBV managed to remain over its 21-EMA line, ChiOs recently flipped back to the bullish side of its own 21-EMA. As far as the AD line, recent tracings indicate some tapering of the decline. Overall, these three institutional indicators are suggesting at worse sustained buying pressure, or at best a progressive buying interest.
D.
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