AI
Friday, March 04, 2011 8:54:47 PM
we have light resistance at the .01 50DMA
and see the red Ichimoku Cloud resistance..
if VLCO can break .01 and convert it to support,
then breaking out of the cloud will be next.
our RSI and STOs are still nice and low, so
they have a long way to go before maxing out..
breaking out of the cloud will carry momentum,
.02 is only light resistance, not heavily established.
.032 200DMA is the biggie.
look at the volume sticks. there is no indication
of consistent, pressured selling. That is key.
see the red wick in the candle corresponding to the
volume spike...that day could easily have not been red,
and the fact that the dip is a wick, not a candle body, suggests
errant trade/absence of adequate bid for a small time
frame on that day. STO is only 33, has all the way
to high 70's before it's challenged.
and see the red Ichimoku Cloud resistance..
if VLCO can break .01 and convert it to support,
then breaking out of the cloud will be next.
our RSI and STOs are still nice and low, so
they have a long way to go before maxing out..
breaking out of the cloud will carry momentum,
.02 is only light resistance, not heavily established.
.032 200DMA is the biggie.
look at the volume sticks. there is no indication
of consistent, pressured selling. That is key.
see the red wick in the candle corresponding to the
volume spike...that day could easily have not been red,
and the fact that the dip is a wick, not a candle body, suggests
errant trade/absence of adequate bid for a small time
frame on that day. STO is only 33, has all the way
to high 70's before it's challenged.
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