AI
Thursday, March 10, 2011 11:51:06 PM
Hey Karma,
Nice to hear from you. CHGY has an interesting chart. PPO isn't all that low, but ADX is very high. Be sure to wait for it to trigger, with PPO crossing up, TRIX crossing up, and green ADX turning up. Also, CHGY put in a lower low, so I'm not seeing support unless one goes all the way back to the highs at 95c from last year. The $1 threshold is also an important psychological level, if it breaks that (which I'd guess it will), that might trigger some further selling. So, be careful.
Of course, charts-based plays are lowest risk when you're pretty confident about the company's fundamentals. So, try to be confident you understand why it has dropped and why it has a shot at move back up.
And as a disclaimer, I have no clue other than a quick look at the chart.
Wadi
Nice to hear from you. CHGY has an interesting chart. PPO isn't all that low, but ADX is very high. Be sure to wait for it to trigger, with PPO crossing up, TRIX crossing up, and green ADX turning up. Also, CHGY put in a lower low, so I'm not seeing support unless one goes all the way back to the highs at 95c from last year. The $1 threshold is also an important psychological level, if it breaks that (which I'd guess it will), that might trigger some further selling. So, be careful.
Of course, charts-based plays are lowest risk when you're pretty confident about the company's fundamentals. So, try to be confident you understand why it has dropped and why it has a shot at move back up.
And as a disclaimer, I have no clue other than a quick look at the chart.
Wadi
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