Tuesday, August 02, 2005 4:42:32 PM
RNWK Charts... Part IV
I reiterate posts 15011 on 7/13, 14955 on 7/11, and 14406 way back on 6/15.
14406:
RNWK - Magic Box setup seems decent, but the Williams doesn't want to make up its mind. The ADX +DI could be better. The MACD is at least going in the right direction. But what gets me about RNWK is that it continually and predictably drops for 1 1/2 to 2 1/2 months and then it spends about the same amount of time climbing back up. There is a lot of support shown in the 2-year chart for a price between about $4.75 and just over $5. Furthermore, in the last two years this stock has gotten to $7 each and every time it has dropped to this level. If you're still on the fence, look at the Full Stoch history. Nothing is certain, but RNWK has a long history of producing 30% gains and more from this level.
14955:
I'll be watching the reaction to the upper Bollinger Band at $5.16. There could be a breakout from the narrow Bollinger Band gap.
15011:
I know that I've posted about RNWK atleast twice now. I just want to iterate something I've just noticed: RNWK does most of its work from 50 to 80 on the weekly Full Stoch. RNWK is now at 50 on the weekly Full Stoch. Please notice, too, the possible Magic Box in the weekly chart. 40% and more from a price just above $5?
By the way, I just love the 2 year chart below.
I reiterate posts 15011 on 7/13, 14955 on 7/11, and 14406 way back on 6/15.
14406:
RNWK - Magic Box setup seems decent, but the Williams doesn't want to make up its mind. The ADX +DI could be better. The MACD is at least going in the right direction. But what gets me about RNWK is that it continually and predictably drops for 1 1/2 to 2 1/2 months and then it spends about the same amount of time climbing back up. There is a lot of support shown in the 2-year chart for a price between about $4.75 and just over $5. Furthermore, in the last two years this stock has gotten to $7 each and every time it has dropped to this level. If you're still on the fence, look at the Full Stoch history. Nothing is certain, but RNWK has a long history of producing 30% gains and more from this level.
14955:
I'll be watching the reaction to the upper Bollinger Band at $5.16. There could be a breakout from the narrow Bollinger Band gap.
15011:
I know that I've posted about RNWK atleast twice now. I just want to iterate something I've just noticed: RNWK does most of its work from 50 to 80 on the weekly Full Stoch. RNWK is now at 50 on the weekly Full Stoch. Please notice, too, the possible Magic Box in the weekly chart. 40% and more from a price just above $5?
By the way, I just love the 2 year chart below.
goosemeister@hotmail.com
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