Technicals and Support, Re: UP Another 3%

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jcwillis

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Technicals and Support, Re: UP Another 3%

in response to

UP Another 3%

jcwillis

posted on Dec 08, 2011 12:23AM

Looking at DROP technicals shows OBV indicating accumulation beginning two days after the 10M volume day (Nov28). Last four days the sp shows higher open/close lows on candlesticks. BB and MA's are showing slight uptrend. Volume showing pretty good interest since Tiger signed. MACD Bullish but may be turning, Stochastic turning to Bullish, RSI Bullish, MFI (Money Flow Index) Bullish and showing money going in.

Overall looking Bullish, likely in anticipation of product availability announcement. Resistance - mental at 0.50 and upper BB about 0.51 and will likely be easily overcome with news.

Supports - 14dayMA about 0.44,

BB middle about 0.43,

34dayMA about 0.37,

Lower BB about 36,

50DayMA about 0.33

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