Strategic Asset Leasing Inc (LEAS)

[Phrozt]

:+: TA Notes 07.29.11:+:

We had a good day today! Not a ton of vol, but that's ok. We finished @ 11, giving us a nice dragonfly doji. It's also important to note that this is the first day since July 12th that we HAVEN'T hit the lower bb!!

Other good things:
- RSI is very slowly pulling out of overbought status
- MACD is starting to converge
- CMF has made leaps and bounds lately to get back to even.

Not so great things:
- We're still on a major downtrend and have a long way to go to see a reversal
- We're about to approach a death cross... which as you can tell from the name, is less than ideal (50d crossing back over the 200d)

Hopefully we'll get a 10q soon, and w/the right amount of vol surrounding that, we can see a reversal, however 16 is going to prove to be a major resistance for us (though we have other resists to get through before that... 12 and 14 being big ones as well)

All in all, while the chart isn't fantastic right now, we had a very good close to the week in terms of indicators!

Have a good weekend