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chart looks pretty good. should of hit a

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ryall12 Member Profile
 
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ryall12   Sunday, 08/08/10 08:57:27 PM
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chart looks pretty good. should of hit a bottom at 1.75 and is now looking to start the way back up.

the weekly chart is very strong and should flip psar within the next 2 weeks. timeseries is on its side and some pretty nice moving room between mas. the monthly support line is also just above pps around 2.10 so expect making it there to be a pretty much given.

once over 2 it may struggle a bit at 2.25 then 2.45. some resistance and mas there to cross. but the 13dma and time series is on its side and momentum is showing strength. plus psar will flip by then as well. should be able to run to at least 2.75 if not pushing for the big resistance at 3.20
but that is a big one and may take a while. may also linger in the mid 2s for a while if it has a lot of trouble with the monthly resistance line which is near 2.80 now.

the hourly says it should cross 2 by tuesday with some decent legs to at least push for that 2.10 break if not up to 2.25 before resting

think there has been some good to decent news lately, dd isnt my strongest suit, but if so this could shape up for an extended run. right now a good 10 to 20% looks like an easy play though.

3.20 area will prove a big resistance point. and this is long term outlook but if that breaks there are only a few minor stops up to 6.00, not saying it just flys there after breaking 3.20 but unless something happens to derail the run resistance shouldnt be too strong creeping in around 4.40 and just over 5.

My charts are my own. Any numbers or timing are based on my interpretations of what I consider to be the most likely price movement. My interpretations can be can be wrong, it is always best to do your own charting.
Anything else I post is purely opinion
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