NeoMedia Technologies, Inc (NEOM)

[chartist1]

WEEKEND UPDATE: NEOM WEEKLY CHART...

First, let me say that for those who wonder the usefulness of charts on OTC stocks...just spend a few minutes looking at this WEEKLY chart that I have been posting for more than a month.

1) We have PERFECT bounces at critical support (purple line).

2) We have predictable bounces at support at the horizontal blue line

3) It is so important to see the 50day sma cross over the 200day sma because it confirms the recent trend (last 50 days) is now stronger than the longer, overall trend (200 days). This cross is something that all technicians look for in every company they trade.

4) Volume on the up-moves has been dwarfing volume on the downside, over time. I can't see how that can be dismissed merely because NEOM is an OTC stock.

5) The Chaiken Money Flow is confirming that money is flowing into NEOM for the last 7 months.

6) Since the January 2003 bottom we have been getting higher highs and higher lows all the way up the charts. This reverses a 3-year trend of lower highs and lower lows.

NOW, this chart would also be very helpful "IF" NEOM where to go south and break the "line-in-the-sand" purple line support. "IF" that were to happen you would be in a place to make a calm and rational decision on if you wanted to get out with your profits RATHER than rub your genie lamp and "hope" for a turnaround based on everyone banding together with positive hopes. Hope is NOT how you make money in the stockmarket.

I am wondering if anyone is even spending time looking at this chart because it is so clear that patterns and behaviors are apparent over a long period of time.

Anyway, that is all I am going say about supporting T/A. I am just going to continue posting them and please feel free to either iggy them or take from them what you like.

http://stockcharts.com/def/servlet/SC.web?c=neom,uu[w,a]waclyyay[pb50!b200][vc60][iut!uc20!lh14,3][J...

Go Cowboys!

Chartist1