Wednesday, August 08, 2012 11:50:05 AM
Normally I would say KMAG is way overbought and will start it's reversal, and I've checked all indicators on KMAG by now.
The fact that this wave is still climbing above the top BB band split and RSI:2/5 has sustained itself beyond it typical rise and fall, indicates That KMAG will defy all rules as long as there is extreme buying pressure to sustain another bullish candle, somewhere around .015.
Nothing wrong with profit taking and if a Doji happens today, next day will indicate where KMAG will go.
Those who are long, no doubt KMAG will go where you expect it to go, Real company, Real revenues, and strong growth, but those who daytrade look for the signals and max your profits.
BUYING PRESSURE AND volume is the key to the game today!!!!
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