AI
Friday, April 27, 2012 11:12:08 AM
MRIB - My thoughts generally . . .
This is a nice setup. Whether or not it actually launches off the launchpad that it is building, it's worth watching - skull and crossbones be damned. There are two crucial points that I am looking at as preliminary or possible buy signals. The first would be a strong close above the resistance line on the weekly chart. Here is a static chart with a markup:
The second potential buy signal would be a strong close above pivot point P. This is a "live" chart:
I would interpret a close above 40 MA on the weekly, simulcast with a close above MA 200 on the daily on Friday's close as bullish indications.
This is a nice setup. Whether or not it actually launches off the launchpad that it is building, it's worth watching - skull and crossbones be damned. There are two crucial points that I am looking at as preliminary or possible buy signals. The first would be a strong close above the resistance line on the weekly chart. Here is a static chart with a markup:
The second potential buy signal would be a strong close above pivot point P. This is a "live" chart:
I would interpret a close above 40 MA on the weekly, simulcast with a close above MA 200 on the daily on Friday's close as bullish indications.
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