Smart Scan Chart Analysis confirms that a strong uptrend is in place
posted on
Oct 12, 2009 09:01AM
Smart Scan Chart Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
Based on a pre-defined weighted trend formula for chart analysis, EDIG scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
| +10 | Last Hour Close Above 5 Hour Moving Average | ||
| +15 | New 3 Day High on Friday | ||
| +20 | Last Price Above 20 Day Moving Average | ||
| +25 | New 3 Week High, Week Ending October 10th | ||
| +30 | New 3 Month High in October | ||
| +100 | Total Score |