Short Term Trading Member Forum

[techcharter]

Short MOT

MOT looks like a good short candidate. There are several wave 1-2's unfolding. All those waves 3 of 3 of 3 will give a great return on investments.

Large 1 Nov '05 high to Dec '05 low motive
Large 2 Dec '05 low to Jan '06 high zigzag 3-3
Medium 1 Jan '06 high to Feb '06 low.
Medium 2 Feb '06 low to April '06 flat 3-3-5
Small 1 April '06 to present looks very motive.

The Bollinger bands are opening really wide and the price is trending along the lower band: Downtrend continues.
RSI down trending, but not oversold. Downside potential remains.
MACD: the signal is pulling away from the trigger: More downtrend.
Stochastics: Oversold, get ready for the price to rise.
4 yr lower channel about to be broken: Bearish

The price is trading well below the 50 day moving average. The average is in a down trend. 50 DMA should provide resistance to rallies: bearish

http://stockcharts.com/h-sc/ui?s=mot&p=D&yr=0&mn=6&dy=0&id=p98331346671