AI
Wednesday, February 29, 2012 6:35:01 PM
You can keep trying to attempt to catch a bottom via the chart, but IMO! you will not find a bottom until the seller(The Good One Inc) is done!
Right now IMO! you're just trying to catch a falling knife. IMO!
You really need to follow the MFI and Accumulation lines. When they start turning up and I mean a strong turn up not a small little turn then it will show you the seller is almost done and accumulation is beginning. Accumulation is still turned down which means there is still more supply then demand here. RSI is still in flat zone as well. Stocks run on demand(Buying at the ask) which has yet to start happening here.
It broke my first support call of .024 and has now breached on 2nd support of .019. It breaks .019 support IMO! it may very well fall below that penny line. PSAR is also tripped to the bearish side along with it sitting on the bottom bollie. Very bearish indicators here. Break above .024 will start turning it out of bearish territory, but again it's all up to the seller. Have a good day Doc :)
Right now IMO! you're just trying to catch a falling knife. IMO!
You really need to follow the MFI and Accumulation lines. When they start turning up and I mean a strong turn up not a small little turn then it will show you the seller is almost done and accumulation is beginning. Accumulation is still turned down which means there is still more supply then demand here. RSI is still in flat zone as well. Stocks run on demand(Buying at the ask) which has yet to start happening here.
It broke my first support call of .024 and has now breached on 2nd support of .019. It breaks .019 support IMO! it may very well fall below that penny line. PSAR is also tripped to the bearish side along with it sitting on the bottom bollie. Very bearish indicators here. Break above .024 will start turning it out of bearish territory, but again it's all up to the seller. Have a good day Doc :)
