Thursday, July 23, 2015 4:17:23 PM
Yes- this close on high volume above the 10 Day Moving Average is what I use for trading. And I know a lot of others who do so. It is not a "perfect" indicator, but it is noticed by a lot of traders who may start getting in "early".
Now, if STWS can close above .45, more trader (more cautious ones) will come in. Again, it should be on high volume.
If the company had good news, this thing could really run up again to .60 or so.
As for the DOUBLE BOTTOM pattern. Here are a few points.
Most technical analysts believe that the advance off of the first bottom should be 10-20%. The second bottom should form within 3-4% of the previous low, and volume on the ensuing advance should increase.
Read more: http://www.investopedia.com/terms/d/doublebottom.asp#ixzz3gkOU4HNw
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
