Discussion in 'Stocks' started by pcgeek86, Jan 1, 2007.

  1. This equity has been on a downtrend since the beginning of December. It shows a low-end resistance around the $28 mark, and around $33 on the upper end. I am estimating that it will continue in a downtrend until mid-January and reverse into the lower 30's around the end of February. With this in mind, I am recommending limit orders of the following:

    Buy: $28.25 (just above lower resistance)

    Sell: $32.75 (just below upper resistance)

    Any thoughts? I'd be interested in what others have to say.

    Disclaimer: This is mainly documentation for my (amateur) self, but I wanted to open it up for discussion to see what sorts of feedback I could get. I am in no way responsible for your trade decisions :)
  2. its been in a trading range for over a year..albiet a nice size one where you can make good money on the swings.

    IMHO it doesnt look ready to turn around yet. Too many other very good plays out there to bother with this one right now.

    Stoch and MACD are crossing to positive but thats just going to slow the drop down..not turn it around ( at least significantly ).

    RSI and CCI need to confirm a new uptrend and too far from MA.

    Of course..I could be wrong :)
  3. Agreed; That's why I'm thinking it'll turn around mid-January ... it just needs a little more time.

    The ADX indicator still shows an increasing downtrend, but I don't think it'll go too far considering increasing energy prices in 2007.
  4. I got in at $34. Sold 1/2 at 5%. Stop set at break even. Hoping the breakout holds and the 2 1/2 month uptrend continues. Good trading all. (Bad pic)