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doebop

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doebop

Re: carnyc post# 14736

Thursday, 08/27/2015 5:07:23 PM

Thursday, August 27, 2015 5:07:23 PM

Post# of 50725
EDITED: overbought with the buying pressure & resistance on daily SMA100 is indicative of possible breakout..

the signal alone is not very useful..

Edit..


PS, with the BBs so tight here on the 60min, the W%R will bounce easily between overbought/oversold.

key is knowing the stock & how it trades... imo

we have great support & loading/buying on the bid in the .076-.08 range...
the overbought indicators is basically showing you the top of the current channel... it's getting really tight & hard for traders to flip for profits..... i'd expect us to start trading between .082 & .09 either tomorrow or early next week.

of course any substantial news & this will move higher..
imo downside risk is very low here.



Kitty' Kitty'

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