Thursday, January 12, 2012 11:05:30 AM
These are the reasons I think that EVPH is looking like a good long.
1. We have an uptick in price so far today off of the lows. In fact we held our lows for the last 3 days and on today the 4th we have the makings of a move up.
2. We have volume at the lows. Somebody dumped their shares, probably one of the bag holders who bought above deuce 6 back in November. When the bagholders dump out of frustration, it lets new money in to move the stock up.
3. Bullish MACD cross. I don't ever use MACD by itself, I like to use it in combination with other factors to confirm a change in trend. In our previous cross, you can see that it confirmed that the price was going from uptrend to downtrend. In today's cross, MACD is crossing up to possibly signal a change from downtrend to uptrend.
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