AI
Tuesday, July 07, 2009 2:03:12 AM
Re: EVVV
IMHO:
PROs:
1 - RSI x Price: RSI closed day strong near 55, where price closed at 21-daily EMA. That same 21-EMA has been in force and unviolated since MAR 2009 - Very bullish continuation sign.
2 - Institutional Buys: Looks like registered shareholders already moved the OBV line near the close today prior to retail's A/D line action.
3 - Technical Note: Also, pattern is ripe for play at this time with a nice bullish reversal candle for the day.
CONs:
1 - MACD: MACD does not seem to have completed in decline move
2 - ADX: weakens while D(-) rose against D(+)
3 - BB: Does not seem done completing its narrowing cycle
Overall, CON's are lagging indicators; As leading indicators, RSI and price are screaming "stampede!!!"
Bulls are on the loose, probability-wise!
D.
IMHO:
PROs:
1 - RSI x Price: RSI closed day strong near 55, where price closed at 21-daily EMA. That same 21-EMA has been in force and unviolated since MAR 2009 - Very bullish continuation sign.
2 - Institutional Buys: Looks like registered shareholders already moved the OBV line near the close today prior to retail's A/D line action.
3 - Technical Note: Also, pattern is ripe for play at this time with a nice bullish reversal candle for the day.
CONs:
1 - MACD: MACD does not seem to have completed in decline move
2 - ADX: weakens while D(-) rose against D(+)
3 - BB: Does not seem done completing its narrowing cycle
Overall, CON's are lagging indicators; As leading indicators, RSI and price are screaming "stampede!!!"
Bulls are on the loose, probability-wise!
D.
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