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Sunday, April 15, 2012 1:58:49 PM
** $GEER ** ANNOTATED DAILY CHART:
NOTE: I usually annotate on stockcharts as a lot of you may know, but GEER isn't on there so I drew trend lines and support/resistance lines using my Equityfeed platform.
ANNOTATIONS and ANALYSIS:
- First thing I notice is that the pps is constricting on .008 (the support level).
- The giveaway here for a breakout is the volume, the break of the trend line, and lastly I've put up the RSI and MACD indicators below the chart and they are both very oversold, indicating the chart is due for correction.
- Friday's long shadowed candle was just a segment of profit taking, but stay tuned for much higher highs.
- The current resistance is @ .03, as marked on the chart
NOTE: I usually annotate on stockcharts as a lot of you may know, but GEER isn't on there so I drew trend lines and support/resistance lines using my Equityfeed platform.
ANNOTATIONS and ANALYSIS:
- First thing I notice is that the pps is constricting on .008 (the support level).
- The giveaway here for a breakout is the volume, the break of the trend line, and lastly I've put up the RSI and MACD indicators below the chart and they are both very oversold, indicating the chart is due for correction.
- Friday's long shadowed candle was just a segment of profit taking, but stay tuned for much higher highs.
- The current resistance is @ .03, as marked on the chart
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