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Sunday, February 23, 2014 12:48:39 PM
Similar set up here- (I think) you guys know I respect your T/A- so please, by all means give it to me straight.
Here's my offering of T/A for the previous week, and my feeling going forward
The +DI and -DI are moving sharply away from each other while at the same time, the +DI crossed above the signal line- We saw how easy $AFYG moves on Friday. Although I'd like to see the Accum/Dist pointing more upward, I belive that's coming and we'll see a nice turn north in that indicator over the next couple trading sessions, Can't forget that last week was a short week, and a big school vacation week as well. Fridays Volume was nearly triple the 20 day average of 117,937. As far as the price action- It's setting up for a nice jump in my opinion. We closed slightly higher than virtually every moving average level on Friday. The MA(5), MA(50), and MA(100) are all sitting at .07, while the MA(10) is at .06, and MA(200) is at .05. Virtually every SMA is offering support...The upper Bolli is just over our heads @ .08, here's the thing- looking back, you can see we've been trading within an ever tightening channel for quite a while now- technical traders who may be watching this chart for a buy signal, are looking for a breakout and close above the upper Bollinger band now. I think we were on our way there until someone decided to sell 120K shares into the bid all at once, without any regard for the chart. Such is life trading the OTC- not everyone watches charts down here, but for the folks who do- I believe that's the buy signal they are waiting for.
KP
Here's my offering of T/A for the previous week, and my feeling going forward
The +DI and -DI are moving sharply away from each other while at the same time, the +DI crossed above the signal line- We saw how easy $AFYG moves on Friday. Although I'd like to see the Accum/Dist pointing more upward, I belive that's coming and we'll see a nice turn north in that indicator over the next couple trading sessions, Can't forget that last week was a short week, and a big school vacation week as well. Fridays Volume was nearly triple the 20 day average of 117,937. As far as the price action- It's setting up for a nice jump in my opinion. We closed slightly higher than virtually every moving average level on Friday. The MA(5), MA(50), and MA(100) are all sitting at .07, while the MA(10) is at .06, and MA(200) is at .05. Virtually every SMA is offering support...The upper Bolli is just over our heads @ .08, here's the thing- looking back, you can see we've been trading within an ever tightening channel for quite a while now- technical traders who may be watching this chart for a buy signal, are looking for a breakout and close above the upper Bollinger band now. I think we were on our way there until someone decided to sell 120K shares into the bid all at once, without any regard for the chart. Such is life trading the OTC- not everyone watches charts down here, but for the folks who do- I believe that's the buy signal they are waiting for.
KP
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