Wednesday, November 02, 2005 8:24:07 AM
RBAK Charts are showing signs of life again...
Weekly:
The upper Bollinger Band sits at 11.50 so that is the possible upside, which is above the last 52Week High of 11.47...The closing prices are holding above the 15Week MA...The RSI is approaching 70, so is not too high...The Stochastics are breaking out of a double-bottom and are not overbought...The DMI+ and DMI- are diverging...The MACD could Kiss nicely here off of zero...And the Volume last week was below average, but the first two days this week has already exceeded last weeks Volume...
Daily:
Yesterday, the pps broke above the upper Bollinger Band but closed inside of it, and I like that it is moving up...The Candlestick it formed is not a Shooting Star, as the body is too large...The chart pattern was an inverse head and shoulders that broke out above resistance at 10.50 and 10.57 and the pattern has not yielded yet what I expect it to, which is up to just over 11.00...The RSI is upticking and still below 70...The Stochastics are showing Overbought...The DMI+ and DMI- are diverging...The MACD had a nice crossover into positive territory a few days ago...And the Volume is Impressive...
This chart says that a consolidation or a small pullback may be in order before the next leg up can begin...
Hourly:
Nice 5-6 day consolidation in an uptrend that yielded UP...It's consolidating again now after the last run...The upper Bollinger Band is at 11.00 so it still has room to run...The RSI hit 80 and needed to pull back...The Stochastics were Overbought for a day and a half, and also needed to fall, but if it bounces up off the 50 line, that will be bullish...The DMI+ is downticking, but so is the DMI-...A MACD Histogram Kiss
here off of the zero line would be Very Bullish...And the Volume the last two days is very good...If it pulls back here, it may find support around 10.40 IMO
Weekly:
The upper Bollinger Band sits at 11.50 so that is the possible upside, which is above the last 52Week High of 11.47...The closing prices are holding above the 15Week MA...The RSI is approaching 70, so is not too high...The Stochastics are breaking out of a double-bottom and are not overbought...The DMI+ and DMI- are diverging...The MACD could Kiss nicely here off of zero...And the Volume last week was below average, but the first two days this week has already exceeded last weeks Volume...
Daily:
Yesterday, the pps broke above the upper Bollinger Band but closed inside of it, and I like that it is moving up...The Candlestick it formed is not a Shooting Star, as the body is too large...The chart pattern was an inverse head and shoulders that broke out above resistance at 10.50 and 10.57 and the pattern has not yielded yet what I expect it to, which is up to just over 11.00...The RSI is upticking and still below 70...The Stochastics are showing Overbought...The DMI+ and DMI- are diverging...The MACD had a nice crossover into positive territory a few days ago...And the Volume is Impressive...
This chart says that a consolidation or a small pullback may be in order before the next leg up can begin...
Hourly:
Nice 5-6 day consolidation in an uptrend that yielded UP...It's consolidating again now after the last run...The upper Bollinger Band is at 11.00 so it still has room to run...The RSI hit 80 and needed to pull back...The Stochastics were Overbought for a day and a half, and also needed to fall, but if it bounces up off the 50 line, that will be bullish...The DMI+ is downticking, but so is the DMI-...A MACD Histogram Kiss
here off of the zero line would be Very Bullish...And the Volume the last two days is very good...If it pulls back here, it may find support around 10.40 IMO
PowerPole >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
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