Replies to post #20742 on lowtrade

[lowtrade]

BIOF

This one is working on a falling wedge pattern, http://stockcharts.com/help/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge_revers
with strong recent volume increases. Just so happens, it's a single bottom bounce play also. FYI it's 40 out of 43 in the sector! Ouch caution, it may deserve that bottom.

But the chart looks primed, but not quite ready for entry, per the entry/exit indicators. For that matter you should play it like a bottom bounce and wait for 1st resistance to be broken, before safe entry. Looking at the 3 month, both 1st resistance ($1.10)and entry indicators should happen at the same time, if it continues it's present path. I'd wait some. And trade the resistance levels like in the video.

Check the 5,10,20 SMAs and DMI for entry signal!
You need the 5,10,20 lined up in order (5 on top) and/or DI+ crossed above DI-.
http://stockcharts.com/h-sc/ui?s=BIOF&p=D&yr=0&mn=3&dy=0&id=p20522184211


THE Bottom Bounce play.