AI
Tuesday, March 25, 2008 11:46:35 AM
MELI Thank you Aj.
I decided to look at it more thru the lens of Support resistance and Price on volume. Which clearly shows the obstacles IMHO. I see that MELI is attempting a muscle thru the 40 level of ( 50 MA, Bear Pennant top trend line and the Double Bottom line created Nov Jan. ).
As you point out 46 is a key number.
My gut tells me that MELI is entering a zone of diminishing price to vol resistance with plenty Positive room on the indicators.
The negative downward slope on the Histogram I am attributing to the lower volume. Am I correct in that assumption?
Bulkowski points to positive effect of an uptrend line with diminishing vol as having a greater impact on percentage return.
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Budding chartist learning and posting out loud
I decided to look at it more thru the lens of Support resistance and Price on volume. Which clearly shows the obstacles IMHO. I see that MELI is attempting a muscle thru the 40 level of ( 50 MA, Bear Pennant top trend line and the Double Bottom line created Nov Jan. ).
As you point out 46 is a key number.
My gut tells me that MELI is entering a zone of diminishing price to vol resistance with plenty Positive room on the indicators.
The negative downward slope on the Histogram I am attributing to the lower volume. Am I correct in that assumption?
Bulkowski points to positive effect of an uptrend line with diminishing vol as having a greater impact on percentage return.
---------------------------------------------------
Budding chartist learning and posting out loud
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