Price is in what I call the Value Buy Zone-- to explain things technically, the gap was filled from the late May gap higher and the 200 day SMA has acted as support for the selling so far. I am betting we will see a bounce back by EOD next trading session. The company remains strong despite the weaker than expected number surf
Understood. Would not feel at home with it my self until it breaks though on the weekly. Best of luck.
Lol, "value buy zone". I'd like you to know surf I'm not hating on you, or trolling you, I find your threads delightful to read. They brighten my boring trading days. Also, I thought you weren't into TA so why the post about gaps and 200 day moving averages?
I have traded ovti for the better part of the last decade, once it's broken it's not worth my last squirt of piss.
I LOVE TA as a means to describe what has happened. It just sucks as a real time decision making tool.
It's well understood Surf is an expert on TA and sometimes runs introductory pieces on it for newcomers http://yhoo.it/11tApxR, but has moved beyond it in his own trading.