Replies to post #6775 on Total Sports Media Inc. (fka TSMI)

[PennyPincher12]

And also, if you want to look at specific indicators, check the Williams % and the accum/dist. I like to gauge overbought/oversold levels based on the Williams %, so right now we're in the oversold range. Based on the ADX, sellers rule this market atm but that's only because the longs here aren't selling at all. The only people selling are those that simply don't have the patience to wait this out. They are selling at a loss, too!

I'll try to get home tonight and put together some strong DD to sticky.

[dmlabuda]

Good question! However, an Ascending triangle shows consistent high prices in nearly a straight horizontal line and ascending low prices. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_c The triangle I see on that current daily chart for LUXD (below) is a Symmetrical triangle that has descending high prices and ascending low prices. The price has already broken out of the downside of that triangle. That is bearish. There is a small glimmer of hope now on the daily chart because the RSI is reading oversold and there is a mild bearish tension in the MACD. But, as noted on the chart, the MACD is still pointed down, the Stochastics are NOT oversold and the %R is barely oversold indicating that lower prices are still possible. You should also note the low volume. The previous high volume spikes were followed by declining prices. That is an indication that the sellers responsible for that high volume are more aggressive than the buyers. That too is bearish. There are many more bearish signs on this chart than bullish signs. Therefore, It's difficult for me to conclude that the price will go up. Ff there is a rally, also noted on the chart, it will most likely be smaller than the previous rally. If we do finally see some positive news now which many of you are waiting and hopping for that price will most likely rally not because of the news but, because of the fact that the market is almost oversold. If there is one news watcher on this board that will take the time to plot on the chart all of the news relative to LUXD since IPO, then, I'm certain you will see the true impact of the news on the price of this stock. But, historically, news watchers rarely do any due diligents regarding their trading decisions so, I'm guessing that no one will actually do that. It's apparently easier to that bullish news always results in a rise in price but, the reality is that it does not and in many cased the price will actually go down following a brief surge in price instead. Here is the daily chart: LUXD - Daily Candlesticks