tks for your reply on decode, blasher
my oversold scan hit is based on only 5 criteria: 5 day volume, price/share, volatility, short term stochastic xing up through 20 (the oversold measure) and pps xing the 13day SMA.
i then take the candidates and eyeball for "formfulness" to the stochastic and overall chart pattern.
e.g. DCGN has been trending up since the mid august bottom. Although it may not look oversold enough, this is the first time the stock has hit oversold on the short term stochastic since before Thanksgiving. It moved over 20% until 12/27.
I have moderately high hopes for further upside reversal after 7 straight black candles on lightish volume and better volume in last two days as it has shaped up.
the market will let us know...
TRADING: "More Signal...less Noise"
LIVING: "One World, One Family, Warm Heart" Dalai Lama
