Sunday, March 19, 2006 6:06:10 PM
Here is a stock, CWLC, CCI (50) is above 0, CCI6 is below -133. its trading near one of the previous support,. The 0.168 fib retracement is at 0.088, it is closed at 0.086. However, if it breaks 0.08, the next support is at 0.06.
There are two thing I don't like it - (a) one of the higher timeframe indicator is on the downtrend, (b) the price is below 34 EMA (but right at 60 EMA), it can be resistence. Not a typical buy on dip play, but this one worths to watch it because it fits some of the criteria, could make a bounce at some time next week.
There are two thing I don't like it - (a) one of the higher timeframe indicator is on the downtrend, (b) the price is below 34 EMA (but right at 60 EMA), it can be resistence. Not a typical buy on dip play, but this one worths to watch it because it fits some of the criteria, could make a bounce at some time next week.
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