Replies to post #124218 on Sarissa Resources Inc (SRSR)

[overachiever]

Forget the daily chart (although it is still OK). The weekly is the only one that should matter to investors. And for the first time in well over one year, it has been quite bullish for the past several weeks. Note that the recent low only touched the 15 week MA as the stock consolidates its recent big run and corrects an overbought position.

[ElohimPerazim]

It's called RELATIVE POSITION. At beginning of Sept, MACD was RELATIVELY HIGH. It means there is MORE risk of a downturn/pullback and less chance/opportunity/space to move higher. Today, MACD is relatively low. Means LESS downside risk and MORE chance/opportunity/space to move higher, RELATIVELY speaking. there is "room to run" on the upside. imo... YES, it is moving in the wrong direction, AT THE MOMENT, however, we all know how quickly NEWS can change TA. And yes, you were right on the negative crossover that forecasted the current downturn in PPS. HOWEVER, TODAY, much of that forecast has already taken place and it is imo nearing a bottom pointing towards a possible new leg up.