EMCORE Corporation (EMKR): The market is seeing support today in th...

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Re: dmlabuda post# 551

Thursday, 06/09/2011 12:06:42 PM

Thursday, June 09, 2011 12:06:42 PM

The market is seeing support today in the $2.10 area but, I don't think this support will do more than mount a rally back to the trend line (which is now down). The last signal of any kind was a divergent sell signal I noticed back on May 1st through the 10th (slow Stochastic). I have seen no indication of any buy signals so, I assume that this weak bearish trend will continue to the next support level down around $1.82 down to around $1.79 - I would look for an anticipate a buy signal at that time.

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