VISG, NAZ NM, profitable.
"For the nine months ended October 1, 2000, net income was $587,000, or $0.06 per share" when compared to net loss last year... turning around IMHO.
A bit T/A... try to draw parallel lines from mid July to
In the mid-July, the stock has started the measured move down pattern from around $5 to around $3, a $2 long first leg.
Then it starts to do channel trading for about two months between $3 to $3.25
Second leg started $3.25 to $1.5, about the same length as the first leg ($2)... and same time used, about half a month.
If you had brought VISG to my attention, I will have shorted it from 3.25 to 1.5... that's a nice gain ;-)... but obviously, I'm just dreaming LOL
Back to the current situation...
Doing yet another channel trading, or possibly the next measured down pattern... forming another leg one here... we don't know yet...
So until we see any kind of breakout below or above the channel lines, we shouldn't do anything.... don't want to take risk.
That's all I want to talk about the pattern and short term outlook.
For indicators and daywise strategies...
VISG touched the bottom bollinger band, this stock rarely trade outside the bollinger bands, so I will say you have a good chance to have an up day soon.
Last Thursday, you saw a doji after a rather big down day. This shows supply and demand are equal... to confirm a change of trend, we need a bullish candle on Friday... nada, we had another gap down doji... glad that the stock is holding the price today, yet another doji.
For scalpers, one should wait for a gapup day to get in and scalpe it... or wait for another white candle with long body, better yet close above last Wednesday's high, then you will see a change of the current down trend.
hum.. I think it's getting too long... I will stop here.
Hope this helps, and welcome to the thread though we are focusing on bb stocks ;-)
signed,
Bernard
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