Pioneer Energy Services Corp. (fka PESXQ)

[stocktrademan]

PES buy 5.15

bull flag
gapped up on high volume
long term double bottom
bounce off moving average support
stochastics crossing up out of oversold
adx dmi indicator lines green over red crossup

note with the adx dmi indicator: when +di green line crosses up over the -di red line, one waits to see during the following day that the price rises over the previous day's high when the di lines actually did cross green over red. This is for added confirmation before buying, to avoid fake-out moves, trying to prevent buying the peak top, and to help avoid sideways chart action and choppy consolidation.

This in effect is like telling the market to 'prove it' that the chart is going higher before taking action and buying. So it is also best to do daily scans after the market is closed for the next day for this very reason.























normal chart




log chart