Technicals Look Promising

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jcwillis

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Technicals Look Promising

posted on Apr 27, 2011 10:26PM

On AMEX...

Got that pop, that traders look for so much, Monday at open. Faded fast from $6. Like real fast.

Technicals looking good - all short term appear in a slight uptrend on Daily charts. 14 day MA trending up, 50 Day MA showing slight uptrend. 200 day MA, currently well above other moving averages, looking to intersect 50 Day MA in a few weeks. OBV tilted down after today's Bear raid saw sp touch 14 Day MA.

However, yesterday's up candle was not completely overshadowed today by the Bears. Bullish buyers came in to close this only a couple of pennies off. A small indication that may prove significant.

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