Replies to post #597 on EMCORE Corporation (EMKR)

[dmlabuda]

Not yet! My target price was $1.18 but, I did not buy there because I got to looking at the Weekly Chart and the a major uptrend line will cross the path of this price decline right around $1.00. So, I'm going to start buying there. The Weekly chart is almost Oversold and if EMKR supports at the trendline for a couple of weeks, which I believe it will (at least temporarily) that should give a clear oversold reading on the RSI and all the other Charts are Extremely Overold so, I expect a rally to get underway right around there. short sellers should also be looking to take profits at the trendline because that is a major support target and short sellers don't like to be caught in a rising price trend and lose profits. Many of them will reverse their position and go long for a while also.
EMKR - Weekly Candlesticks