Volume is a bit low and as time passes the 9EMA is coming down
closer, but maybe just this thin holiday trading messes up "the
Force" somewhat. Looked like a good candidate for Steve doji buy,
but they are just building up here day after day...Best, M
I commented on WGO last week and said that the first target
would be the 20 EMA on the 60 minute chart which amounted to over a
$1.50 bounce from extreme oversold. This is not a doji setup
candidate since the doji's followed a engulfing candle (please
study and understand this comment). The hope here for the bulls is
a bull flag forming on 60 minute chart but it must move soon or
else this will simply be viewed as a bear flag on daily waiting for
9 day EMA to push lower.
like Steve mentioned, it looks like a bear flag. The weekly (Log
Chart) shows this right on long term support, so it this flag
breaks, it will be even more significant.
WGO - big red candle then...
Posted by zimikebpt on 30th of Dec 2013 at 02:48 pm
Volume is a bit low and as time passes the 9EMA is coming down closer, but maybe just this thin holiday trading messes up "the Force" somewhat. Looked like a good candidate for Steve doji buy, but they are just building up here day after day...Best, M
I commented on WGO last
Posted by steve on 30th of Dec 2013 at 03:00 pm
I commented on WGO last week and said that the first target would be the 20 EMA on the 60 minute chart which amounted to over a $1.50 bounce from extreme oversold. This is not a doji setup candidate since the doji's followed a engulfing candle (please study and understand this comment). The hope here for the bulls is a bull flag forming on 60 minute chart but it must move soon or else this will simply be viewed as a bear flag on daily waiting for 9 day EMA to push lower.
I like WGO as a short ...
Posted by mla127 on 30th of Dec 2013 at 03:18 pm
like Steve mentioned, it looks like a bear flag. The weekly (Log Chart) shows this right on long term support, so it this flag breaks, it will be even more significant.
Hey thanks...That makes things a
Posted by zimikebpt on 30th of Dec 2013 at 03:24 pm
Hey thanks...That makes things a lot clearer to me. Lots to learn!
Best, M