as per request, analysis on EGO
I would wait to buy in the lower range in the box. The STOCH RSI always come down to around the 0 level before a move back higher. it seems to follow that pattern, looking back on the daily chart and see reversals happen when it bottoms out
also, the Fibonacci support levels are pretty close from the big dump previously and also...
I like this play as a long term hold and seems to have broken the 27.00 range. Looks like a darvas box breakout on low volume. I would expect a retest of 27.00 as a cool off of the current run, then moving higher again. slightly overbought, but i wouldn't expect it to make a full correction. 27.00 has now become strong support. I would enter at 27.00 and set a 1%...
looks like its ready to go. huge bullflag, sitting on FIB line retracement.. cup and handle forming on most recent setup. pullback to 2.50s and then rockets. looks like a fake breakout to suck in some shorty fuel
Why I think the markets will pull back shortly:
- The black lines in the volume chart showing declining volume on runs throughout the year. Pretty low relative volume currently on this latest run to new highs
- Extended above the moving averages, It certainly looks like it will come back to the major moving averages
- RSI is very high (although it can stay pegged...
wheres the bounce? needs to bounce here or its going to get ugly... airlines across the board are green on 8/26 but this cant get out of its own way. interesting to see it hit it head on the 20 day average quite a bit. still holding and averaged down on 9/13 calls.. GL
EGOs run seems to be over for now, it had produced a continuation gap (bearish candlesticks), but that alone isn't enough to make a confirmation. After today with the 10% drop on shelf offering news.. it formed a bearish engulfing candle. Bearish engulfing also alone by itself is not enough to say bearish also.. so you look for volume confirmation. It seems we...
Earnings out with CC at 11:30am... Australia is rallying hard with gold miners and gold is up big overnight. Earnings were decent but nothing crazy. Hoping for Greek mine updates this morning and we should be off the the races again
bollinger band gave me a buy signal....
upper band 8.32
lower band 7.78
look at those for pivots or gaining/losing...
will XXII slink lower or is this a scare tactic by our resident MM. Looks like they are slowly stair stepping down over the long term but allowing a channel to swing the stock over a set period of time. This has no news going for it, and company doesn't seem to care. Bearish until uptrend is confirmed or company issues some positive news.
looking where AKS might head next, may need to cool down a bit before pushing higher, but good earnings and momentum are on its side. needs to hurdle current levels and create a base here for me to want to go long, If you missed the run, wait for some consolidation at support and go long with a tight stop. GL
In my previous post, I was bearish on EGO and bought a few puts thinking it was ready to turnover agan. Now watching it after it cooled off and has been; making higher lows the past few days, not breaking the trend line.. I am cautiously bullish. Looks ready for a push into the 8's. I bought some near ITM calls to grab some profit from the next push. More volume...
VOLUME! The yellow arrows showing the spikes come with volume. Its a low float / low volume penny stock. However the bollinger bands are tight. Im playing with this bollinger band strategy seem to predict some upcoming spikes. Seems to predict some moves with UUU. Also just had good earnings report, looking for this to make a move higher
Looking for exhaustion on the EGO run from 3's. Volume is declining and approaching OPEX..
support around 6.80s then maybe look around the 6.00 area for support. finding support is tough on these kinda runs.