Thank you abbytraderwin for your compliment. I will keep posting this info over the week end and I think if the newer traders study what I have said- its a quick cheat sheet not to get burned and the weak hands should become knowledgeable and strong. If they know the signals then they will not bail and crash the stock on Monday. Also they won't run it up too fast either.This makes for a solid stock. Up a few points each day.
My chart setup for SWVC. Link is at bottom. Please read and save this post.
Open link below for SWVC 4 month chart and adjust to 1,2,3 and 4 months on chart attributes and hit update to get the big picture on this stock.
My chart analysis:
Today SWVC tested the EMA8(.0335) but closed above at .035. MACD is still positive (good) and WmR%9 is slightly below 50 (slightly bad) but so were most all stocks today. ex. F, GM, VMW, EMC.
For Monday: On the down side SWVC must hold .0335. If not, next test is .029. If you draw a straight up sloping line on all the lows on any of the charts you will see the predicted absolute bottom for Monday is .029 which is also the middle Bollinger Band. As time goes on this bottom price rises.
On the other hand this stock appears oversold and it could also rise Monday to test the upper BB which is .040. if it holds then back up we go each day. Volatility will come again if there are pumps and day traders will make out. Thats OK. Overall though SWVC should continue its upward trend with higher highs and higher lows. The chart says it all.
I bought 250,000 shares EOD today at .034. I will not sell unless it looks like the stock cannot maintain .029. My gut tells me today was a panic every where (DJ down -366 points) and that people will clear their heads this weekend and buy back value Monday. That is why I bought.
IMPORTANT: When the WmR9 crosses back up above the -50 mark the chart readers will jump in and then SWVC will take off. Pay attention to this point in particular!
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