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S&P 500
5,181.85
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US TECH 100
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Post# of 9838
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dmlabuda

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dmlabuda

Re: eZ3 post# 747

Tuesday, 08/14/2012 2:36:38 AM

Tuesday, August 14, 2012 2:36:38 AM

Post# of 9838
No, I do not see a bearish divergence on the daily chart. For a bearish divergence you need to see the price making new highs while one or more OB/OS oscillators are making new lows. That is not the case. However, I do see a descending triangle now on the Hourly chart and since I have a profit to protect, I'm taking it and if that turns out to be a bad decision, I can always buy it back again. It's possible that with the descending triangle the price could drop to around $0.26. The market is oversold now and therefore we could see a bounce up to $0.33 - $0.34 before it drops.
http://stockcharts.com/h-sc/ui?s=WEST&p=60&yr=0&mn=1&dy=7&id=p60790261981&a=241880892&listNum=3
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