is ... YES - Another Profitable Day!
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I disagree about the technical indicators, in my opinion, it does look like a market bottom and there is high volume, a bullish divergence and Oversold conditions so, I'm satisfied that we should see a rally here now. There is also the possibility of a descending triangle but, when you add up all the reasons to buy and compare it against the descending triangle, I say it's worth the risk and not all descending triangles break down. http://stockcharts.com/h-sc/ui?s=UCHC&p=D&b=5&g=0&id=p45068287272&a=271334202&listNum=5
No. Actually, as I stated earlier, I would be a buyer below $0.28 and I bought in at $0.27. Very exciting! The target price from the descending triangles is now complete as far as my charts are concerned and the price is already trying to break the downtrend line so, I'm optimistic now that WEST has adequate support below $0.30 to sustain a rally here. http://stockcharts.com/h-sc/ui?s=WEST&p=60&yr=0&mn=1&dy=7&id=p87180706040&a=241880892&listNum=3
But, you apparently will never know whether that is true or even possible or not because you are unwilling to investigate technical analysis for yourself so, you'll never be able to validate that now, will you?
A lot can happen in two weeks. The weekly price chart for UCHC actually looks like a possible market bottom. But, the timing does not appear to be perfect quite yet to buy.
Earl Nightingale once said on one of his radio programs that "if we only knew enough, we'd NEVER be afraid". When it comes to the stock market, that is absolutely the truth. Learn everything you can about technical analysis and test it to see if that knowledge you think you understand is really valid by back testing and then improvise, adapt and come up with your own unique trading strategy that you know works every time, and no price movement will ever surprise you again.
I fully understand that but, at the same time, from a purely trading and making money standpoint when you are using sound technical analysis, all the news regardless of its weight is totally irrelevant because the chart will tell you in advance where the price is going to go. But, until you study and investigate and research technical analysis, you'll never know that. It's just like anything else too. You can't just read about it, you have to do it. But, you can be absolutely certain that the information that you are basing your buying and selling decisions on (the volume and price activity) when you are using technical analysis is absolutely accurate data. How do you know that the news is even accurate data? You can't, can you. All I'm saying it there is a better way to arrive at your buying and selling decisions and if you fail to learn about it, it will cost you in the long run.
Not if it bombs! In my opinion, the public is already burned out on reality TV. In fact, my whole family almost never watches TV. When it was the new kid on the block, everyone was watching reality TV and talking about it but, now it's just another reality show that may or may not get attention. You want a hit TV show? You have to have some truly fantastic writers and create something totally unique like "Bones" for instance. You couple writing talent with acting talent and you'll have a hit on your hands every single time. I think ICPAs focus on more on following the leader and trying to turning a buck rather than producing something unique and completely entertaining. The later is where the buck really comes from but, it also the riskiest venture.
Anything is possible. Support can appear to be broken decisively and the very next day the market will come screaming back and keep on going. Or not. That is where technical analysis of the short-term charts plays such a vital role. Those charts (the hourly, 15-minute and even the 5-minute charts will usually show you where they market is going in the short-term. It really does not pay to try to second guess the market. Just watch what it's telling you about price and volume behavior and trade on the side of the smart money who know things you will only read about in the news after it's too late to do anything about it.
Rather anticlimactic wasn't it?
The price continues to close above the 50 candle MA on the hourly chart so, I have not changed my opinion.
What does the Secret Service have to do with anything?
I would be willing to bet you that you could start with a $10,000 account and buy the day after all the good news reports are released on any stock of your choice and I could take that same size account and trade solely on chart signals and never ever read a newspaper or any periodical and never watch the news on TV and in a year, I'll have at least three times the amount of money from trading the same stock. There is no sense in arguing with me because I know the news is irrelevant because I never read it and I make money almost every single day!
Well, the FACT is that ICPS went from over $0.30/share to below $0.0030/share in spite of all the news of the last three years. Most of that news was probably good news. I trade with the charts. They always work!
Not hardly! Much of the time it isn't even true!
Be careful what yo chose to believe because it will have a profound effect on your bottom line!
There is an old saying about the stock market that sums it all up. You need to "buy the rumor and SELL the news".
T/A works just find in the Pinks if you know how to read the charts.
Obviously, that article you posted was written by someone who never really understood technical analysis. I almost never buy after a rally. I very often buy within $1.00 of the low price for the year. So, I'm not interested in arguing with you. I make money trading with charts. I do it every single day. So, don't tell me that I can't do what I'm already doing!
If you follow this conversation back a few links, you will see that I commented that it's a strong bear market and at the time Posted that comment, I saw no reason to get too excited about this stock. I still see no reason to buy immediately but, there is now a possibility of a large ascending triangle forming and if it continues it's formation and the price stays above the bottom trendline on the triangle, then we could see a sharp rise in price down the road. If that trendline is broken, then the price should continue to follow that strong bear trend that still exists and lower prices will follow. http://stockcharts.com/h-sc/ui?s=GNOM&p=D&b=5&g=0&id=p45068287272&a=271091618&listNum=3
I can see a sort of descending triangle on the daily chart but, I wouldn't call it massive. Looking at the daily chart, there also appears to be a cup and handle formation and the handle has been flirting with the 50 day MA but, so far has maintained support above it. http://stockcharts.com/h-sc/ui?s=ENTB&p=D&b=5&g=0&id=p29901679291&a=269546912&listNum=6 You will also notice that the Stochastics and %R have already entered into Oversold territory.
On the hourly chart however, there is a distinct overhead resistance at the 50 candle MA and the Stochastics and %R are not quite oversold. So, in my opinion, there is room for a further decline to perhaps the target price from that Symmetrical triangle that appeared on the hourly chart with the price breaking down from it. I don't think we will see prices dip under $0.005. It's also possible that if there is enough support for the price at the 50 day MA on the daily chart that we will see a few more days of consolidation and the test of support at the 50 day MA and then I would expect a rally off the handle of the cup and then higher prices for awhile. http://stockcharts.com/h-sc/ui?s=ENTB&p=60&yr=0&mn=1&dy=0&id=p06026230039&a=270426376&listNum=6
On the 15-minute chart currently there is room for the price to drop to perhaps $0.0079 to 0.0072.
Thank you for the kind comments. They are appreciated.
Daily Chart Analysis - GDGI has been a classic bear no doubt driven by a lack of revenue but below $0.05/share, there has been a lot of interest in the stock. Right now it's in an Oversold state with bullish tension in the MACD which is about to cross up. Therefore, in my opinion, it could be a very good swing trade for a bounce back to at least the 20 Day EMA and perhaps even the 50 Day MA. Beyond that, you'd have to be a real believe to hand on to it unless a significant bottom formation should develop.
http://stockcharts.com/h-sc/ui?s=GDGI&p=D&yr=0&mn=6&dy=0&id=p13703073580&a=271667358&listNum=6
Daily Chart Analysis - Vonage looks as though it could be transitioning here from a Bear to a Bull market. There is a rather crude cup & handle pattern in place (I much prefer trading perfect patterns and this one is not perfect) but, the daily chart does provide quite a nice bullish divergence at the base of the pattern to lend some credibility to it. There is also a bearish divergence to warn of lower prices recently but, if you look at the momentum of the RSI and Stochastics, it appears to me that we may see price momentum slow a bit now and support settle in around the 50 day MA which would be right where you would expect it to be if the price is to continue higher here. I would look for the price to consolidate around $1.80 to $1.85 under oversold conditions and head higher. If the price retreats to and then breaks support at the recent lows around $1.65, that would be reason to consider abandoning the trade. http://stockcharts.com/h-sc/ui?s=VG&p=D&yr=0&mn=6&dy=0&id=p11648566014&a=271968321&listNum=4
You were wondering whether a price chart can predict the future price of a stock. The answer is sometimes it can but, usually is does not. There are certain chart patterns such as an ascending triangles or descending triangles or symmetrical triangles that do provide a target price prediction capability that historically has been fairly reliable and somewhat accurate. Other chart patterns that have a price prediction methodology associated with them are head and shoulders tops and bottoms, measuring gaps, bull and bear flags and cup and handle patterns. If you would like to learn more of how to recognize these patterns and how to use the price prediction methodology related to each pattern, I suggest you might want to read "Technical Analysis of the Financial Markets" by John Murphy or visit his web sight and browse the training section there at stockcharts.com.
Another non-believer! In my opinion, the market will still drop a little lower for a couple of reasons. As I've said before there is a strong tendency for the price to drop back to the 200 candle after crossing it and in addition to that, we now have Double Descending Triangles on the hourly price chart (link below). So, even though the market is oversold, it's been oversold for some tie now and can still go lower. But, not much lower in my opinion. I would be a buyer in the $0.26 to $0.28 range assuming the charts look at a buy when the price gets there. http://stockcharts.com/h-sc/ui?s=WEST&p=60&yr=0&mn=1&dy=7&id=p87180706040&a=241880892&listNum=3
Thank you! Your comment is appreciated. It might be little early yet but, here is what I'm looking at now for ICPA. Remember, the markets are dynamic and the charts change from day to day and if you want to turn a profit, you need to be able to improvise, adapt and overcome. The daily price chart does show support now at the 200 day moving average and three times now the price dipped to $0.0125 or below and closed higher on the day. The price did meet with normal expected resistance at the 50 day MA but, now on the hourly price chart we see that the possible double bottom formation looks more like a real double bottom with price support coming in recently at the 50 candle MA. There was good buying support today in the last hour of trading ending in a Hammer candle for the hour. Hammer candles, more often than not, indicate higher prices to come. So, I'm speculating now that we will see another test of resistance at the 200 candle MA and a very good chance that we could see a close above the 200 MA. If not, there is also the possibility now of an ascending triangle forming and that would be very bullish as well. So, in my opinion, buying below $0.022 ($0.021 if you can get it) could see a price rally back to $0.03. From there, it could go either way but, in any case, you'd have a nice 40+% profit (possibly in one day). Or not, it could take another day for the market to get moving in that direction but, with a Hammer candle at the end of the day, I think it's going higher tomorrow.
Hourly Chart: http://stockcharts.com/h-sc/ui?s=ICPA&p=60&yr=0&mn=1&dy=0&id=p85297507778&a=255878617&listNum=6
Daily Chart: http://stockcharts.com/h-sc/ui?s=ICPA&p=D&yr=0&mn=6&dy=0&id=p52677956735&a=257286122&listNum=6
Check my recent post. Could be developing into a buy finally ... http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77498086
GNOM is begging to show some life, I think! You might want to read my recent post on the subject here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77498086
While I have been largely bearish on this stock with good reason, right now it appears that perhaps the bulls are beginning to make an appearance with the development of a very possible large ascending triangle now forming on the daily chart. I think I would be a buyer here below $2.20 (or anywhere along the base of the triangle) just to see what happens. Triangle price prediction methodology (PPM) would put the target price for a rally above $6.00/share. Certainly worth the risk, I'd say. Here's the chart: http://stockcharts.com/h-sc/ui?s=GNOM&p=D&b=5&g=0&id=p45068287272&a=271091618&listNum=3
The chart in most cases would have told you a week in advance to buy those stocks!
Show me a new article that tells you to buy one week before the huge run up in price. Oh yeah, you can't do that can you? But, the chart will do that almost every single time! By the way, ICPA has been in a down trend for more than three years now. So, does that mean that ALL the news of the last three years was bearish news? What's the matter? News got your tongue? What about yesterday's news? The price went down, right? However, it might go up tomorrow with or without the news. I could tell you why but, you don't believe in charts, do you?
One day does not a trend make! Right now, on the hourly chart, resistance is at the 50 candle MA, support is below the 10 candle EMA. This stock is definitely in a downtrend now and heading lower (at least for the short-term).
Do you know how that can happen? It happens because the market in anticipation of higher earning drives the price up before the earnings are released. When the earnings are announced at 10% and the market had driven the price to a point that would be supported by 20% earnings, the price will adjust back down again. It happens all the time. The chart would tell you that, the news did not tell you much of anything, did it?
It's great for any trading style! Making money is what it's all about.
Since it is my belief that the news is irrelevant, why would you assume that I even knew about it? Actually (according to the time stamp on the news) it hit 5 minutes before the closed but, that's irrelevant too. Ok, let's have some fun. What did the news say? Did it say that the companies earnings were exploding? No, it did not. Is it possible that people will read that from this news release? Of course they well! What is the truth about the news release? Well, it says that the company is entering into production, right? What happens when a company enters into production? Do they put money in the bank immediately? No. Do they take money out of the bank? Yes, or they borrow it, in either case starting production is a liability, not an asset. So, what does the public read in the news? Do they see dollar signs or risk? Many of them see dollar sign, right? What's the reality? The reality is huge risk, right? RIGHT! They are spending money and they don't know what the critics will say about the show or even if anyone but a handful of share holders will watch it if it even gets released, right? Right! So, is that a reason to buy or sell the stock? Anything can happen! But, here is one possible scenario: Actually, before I give that to you, lets first consider why the news was released just before the close. Well, to get people to buy the stock, right? So, when are they likely to buy? The next day, right? So, what is liable to happen today when the market opens? Well, one scenario is that all the naive investors, the wishers and dreamers are going to mortgage the house and put all their money into the stock. So, what does that mean? Well, these people typically buy at the market because they don't know any better and they are afraid that if they don't buy immediately the price will go sky high. So, what is the smart money doing? What are the market maker's forced to do? When you have buyers that are willing to pay any price to get the stock and the smart money knows the price is about to go up for the wrong reason, they are going to sell at a nice high price and market maker's will also have to sell to make a market so, what happens to the price? The market COULD gap open tomorrow, and run up and then immediately hit resistance at the 50 day moving average and drop back down filing the gap and close lower on the day. That's one scenario. The market could run up for several days and then hit resistance where all the smart money has decided that this rally might go and then it will fall back down again. Why run up and then fall back down? The company has no revenue. They have an expense and risk. Naive buyers are willing to pay anything because of a news article they think means the price will go up. Does the price go up? Sure because smart money know that naive buyers are willing to jump in. After smart money takes profits and the naive investor runs out of short-term capitol to buy with what happens to the price? Now a really shrewd technical analyst, who just bought at support, and still has those shares will be able to sell them when he/she sees that the market is running out of steam be that tomorrow or early next week. So, what relevance did to news have to the technical analyst? None whatsoever.
Since the price broke out of the symmetrical triangle to the down side, it will most likely continue going lower now. http://stockcharts.com/h-sc/ui?s=ENTB&p=60&yr=0&mn=1&dy=0&id=p06026230039&a=270426376&listNum=6
Everybody thinks their stock is an exception to the rule! There are no exceptions. All stocks follow the same rules for charting.
I disagree. The volume is too weak to sustain a rally here.
Anytime, glad to help.
What do you think?