txtrapper
548 posts
msg #31557
- Ignore txtrapper |
3/30/2004 9:23:32 AM
EWZuber
ASX...as a matter of fact the *Heikin-Ashi Technique did give a "buy signal" at the end of the day on 3/26 "before the big move".
Heikin-Ashi Technique..The heikin-ashi method (heikin means "average" or "balance" in Japanese, while ashi means "foot" or "bar") is a visual technique that eliminates irregularities from a normal chart, offering a better picture of trends and consolidations.
You can take a look at it at Propher.net.
TxTrapper
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wallman
299 posts
msg #31558
- Ignore wallman |
3/30/2004 9:27:59 AM
i also have ANCC on my watch,few others you might want to check,EAR,ANTS,CANI,SIGA,XOCM,SBSA,IMAX,GLBL....all past fav bouncers i know can run on green hold,if they fail to hold green all the better for tomorrow as a watch, from my box filter,watching NPRO,VWPT,ULTI,IPT,MWAV,same deal here ,they fail today,back on watch tomorrow as i will do also with lbb/muddys,GASE,OPMR,SVNT,GEG,MIKN,RSTN,SONS ....could be a big red market open so i'll watch carefully for the ones that do hold
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EWZuber
1,373 posts
msg #31565
- Ignore EWZuber |
3/30/2004 5:03:47 PM
txtrapper
I went to Phrophet.net but couldn't find that indicator.
Maybe you have to subscribe or sign up for the free trial to access it?
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EWZuber
1,373 posts
msg #31566
- Ignore EWZuber |
3/30/2004 10:48:22 PM
txtrapper
I was thinking about the use of another indicator and I really don't think that it would have made any difference getting back into ASX.
Getting out was not a problem since TLs & Stochastics got me out without any losses.
At the close on the 26th I was concerned about the action in the Taiwan market since the stock trades over there when the NYSE is closed. ASX was very oversold on the Daily and Hourly chart, indicating that the bottom was likely very near, but I couldn't be confident that it couldn't go lower overseas and break below MA support causing the stock to gap down below support at the open here the next morning. Decisions on these ADRs have to be made with only half of the chart and half of the TA.
It was this added variable that made trading it unusually challenging so I traded on the side of safety. Re-entering would not have been a problem except my charts and then the whole trading platform went offline and there was a technical entry offered that morning.
I like to keep the system as streamlined as possible so that decisions can be made quickly. If I ever get Phrophet charts I'll definitely check it out.
Bought some ANCC today @ $1.11 and ECGI @ $0.81.
Stochastics look a bit overbought on ANCC on the Hourly chart but it hasn't broken TL Support yet. Buying voloume was good in the first half of the session.
ECGI broke short term TL Resistance on the hourly chart in the final hour of the session with relatively good volume, indicating a likely move higher tomorrow morning.
I suspect that BVEW will move up tomorrow, it closed above the 25 WK.MA @ 3.50 but dead on the short term TL. Need to see that TL broken.
JMHO
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EWZuber
1,373 posts
msg #31569
- Ignore EWZuber |
3/31/2004 11:18:27 AM
Bought BVEW @ $3.41. Looks like it may be a bottom.
Closed ANCC.
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EWZuber
1,373 posts
msg #31570
- Ignore EWZuber |
3/31/2004 12:20:19 PM
Closed BVEW. Sell signal was on the break of TL Support on the 5 min. chart @ $3.45.
Closed ECGI @ $0.87.
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EWZuber
1,373 posts
msg #31572
- Ignore EWZuber |
3/31/2004 5:03:04 PM
Picked up a little ANCC in the aftermarket @ $1.08. A stochastic +xover on the 5 min. & Hourly chart and a break of TL Resistance @ $1.07 on the 5 minute chart. Hourly chart TL Res. @ $1.16 right on the 50 HR.MA.
JMHO
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EWZuber
1,373 posts
msg #31573
- Ignore EWZuber |
3/31/2004 5:58:19 PM
wallman
been seeing a lot of your watchlist come up on my screens. On the 'Oversold Weekly and Daily Chart' screen EAR & RSTN came up today. EAR has dropped a tad below the avalanche point of a double top pattern. Looks like finding some support around here is critical. With selling volume picking up it doesn't look very good right now.
RSTN is testing the 25 WK.MA @ $1.35 and is oversold on both charts. Looks promising.( too bad its an OTCBB ).
Yesterday ANCC, two days ago XOCM.
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EWZuber
1,373 posts
msg #31575
- Ignore EWZuber |
3/31/2004 7:25:40 PM
A couple interesting charts,
FLDR, DRRX.
NENG...is long term oversold on the Monthly and Weekly charts and right now is working out a very narrow wedge pattern on intraday charts and is up against a 45 day resistance TL on daily chart at todays close. I don't expect the gains to be fast or dramatic but reliable once support has been firmly established. Support appears to be at the 25 Month MA @ about $2.70 ~ $3.
INNO...also oversold on Monthly chart with support at the 50 Month MA. at about $2.20.
LEXR... a favorite of Monthly chart oversold candidates because of the earnings growth. This has kept the selling to a minimum. This is why the 15 Month MA so far has held up as support at about $13.
JMHO
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EWZuber
1,373 posts
msg #31577
- Ignore EWZuber |
3/31/2004 11:18:07 PM
VWPT...Looks ready for a possible move higher. Looking for a break of TL Res. on the 5 min. chart @ $3.45 w/ stoch. confirmation for an aggressive entry. Using a violation of TL Support on the 5 min. chart as exit signal until the Hourly TL resistance is broken. Then Hourly chart TL. Support is used.
TL Resistance on the Hourly chart @ $3.52. Hourly chart just began accumulation.
Depending on where then stock opens and market conditions, may just wait for a break of $3.52 to enter w/ stoch. confirmation of +xover.
JMHO
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