Famous Dave's of America Inc (DAVE)

[stocktrademan]

It can not get any cheaper than this. Trust your trade instincts and you will get rewarded plenty with this one. The earnings picture is looking up after a while and the stock is bloody cheap with plenty institutional money. The whole restaurant group is turning the curve and economy continues turning around

This looks like it's going bearish to me now. The macd is below 0, indicators look overbought and exiting the upper boundary, and it is at the upper bollinger band as resistance.

Stochastics are crossing over downwards from overbought territory. The weekly chart shows the ppo tried to go above 0 but never followed through and hasn't crossed up since. Parabolic sar on the weekly has the dots above the price bearish.

The support area around 4.25 formed last december seems to be where the price just tried to retrace to, and today it formed a bearish harami candlestick which infers things can get a lot cheaper. Perhaps it will recover later, I just wouldn't bet on it right now.

I think I'll sit out this one now thanks, and I do not just use instincts that is asking for trouble they're usually opposite of the correct choice.

This is why I like looking at technicals, they remove the usually wrong impulsiveness and prevent getting wrapped up in things before making a trade. Perhaps it's different for other people just saying....keeps me impartial and a process allows me to re-evaluate and change my mind. Just using a process and being disciplined about it is the important part. Good luck....