Saturday, March 25, 2006 7:27:33 PM
Bullish Signals
A bullish signal is given when the Accumulation/Distribution Line forms a positive divergence. Be wary of weak positive divergences that fail to make higher reaction highs or those that are relatively young. The main issue is to identify the general trend of the Accumulation/Distribution Line. A two-week positive divergence may be a bit suspect. However, a multi-month positive divergence deserves serious attention.
Example:
Even though the stock fell from above 35 to below 30, the Accumulation/Distribution Line continued on a relentless march north. If one did not know better, it would seem that the two plots did not belong together. However, the stock finally caught up with the Accumulation/Distribution Line when it broke resistance
http://stockcharts.com/education/IndicatorAnalysis/indic_AccumDistLine.html
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