Re: T/A: edig has remained above lower line price trend of .167 last couple days
posted on
Nov 14, 2009 12:03PM
I know you weren't talking to me but let me give my spin, trying to stay detached from my obvious interest in seeing this stock succeed.
The MACD signal line just turned up from the zero line (a good sign). I see the decline in the MACD as normal retracement after the surge. Price has been slowly declining with a volume pull-back after the surge - a good indicator.
Price pulled back to the 50 day line, not the 200 which I believe shows strength.
RSI has been bumping up against the 50 mark. If it goes through it, another good sign. But not a good sign yet...
And my favorite indicator, the DMI, has retraced to 32 and is flat-lining. It's waiting for some decisions, I believe. At the beginning of a good trend it's good to see this coming up from about the 20 mark.
If someone had handed this chart to me without a name on it right now, I would consider it a great gamble.
If someone handed me the chart on 8/14, I would have plunked down everything I had on it (and watched it like a hawk of course).
And, of course again, the only thing you lose reading this is the time it took you to do so.
My bet - it goes up this week. But, I dare to be dumb.
GLTA