what you are looking at right now is an hourly chart with many trendlines showing areas that could provide support or resistance. this chart has the macd histogram at bottom. there was a bullish momentum shift on the 21st of march (note the parameters of the histogram). the high of the day was 4.25. we need a daily close above this level to cause the shorts to start covering their positions. if this plays out like i think it will, we could be to 4.60-4.65 short term. chart below will show thishttp://3.bp.blogspot.com/-BIBo-RAxHB0/TZ.. reffering to my earlier post from sunday regarding the technical event.
im looking at an hourly chart spanning about 3 months. the indicator im looking at is the macd (not histogram, also note the parameters). the last time it went positive was jan 6 2011. it was on the brink last friday, and finally broke through today around 2:45. the chart below will show this.
http://4.bp.blogspot.com/-IAmE0e5589Y/TZ...
last but not least, looking at a daily chart with a 5 day exponential moving average, you will see; we have had the last 8 trading days with a rising 5 ema. 8 out of 8 we have had a daily close price higher than the rising 5 ema. as of today 5 ema is now above all other standard moving averages that one would typically use, for example, 9, 13, 34, 50.
one more thing to note on the daily. macd histogram with standard settings 12 26 9 , has been ticking higher consitantly since march 17. at this point we could be a day to 3 days away from going positive, which combined with all of the other prospects could lead to a sharp increase in share price :) . i am hoping however, that we dont create any gaps, so that they wont run the risk of being backfilled.
take a look at the charts guys, let me know what you think.
No comments:
Post a Comment