woofys
212 posts
msg #32333
- Ignore woofys |
6/13/2004 3:35:57 PM
EXTI, as you can see rolls from .04 up to .04 down daily. what do you think?
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EWZuber
1,373 posts
msg #32336
- Ignore EWZuber |
6/14/2004 3:04:53 AM
EXTI; The 25 DMA has flattened out and can now serve as support. Stochastics are oversold in many time frames. Thursday there was a test of support and possibly an attempt to purge the last of the weak hands and may have resulted in capitulation as far as the next move is concerned.
The stock closed just above the Resistance Trend Line on the Hourly Chart and is oversold in that time frame. So it looks like this would be a good place to try a position.
I would put the sell signal on a break below the new short term Supporting Trend Line that starts from the low at $0.25 on the Hourly Chart. Good Luck
JMHO
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EWZuber
1,373 posts
msg #32347
- Ignore EWZuber |
6/15/2004 1:14:46 PM
woofys
There was an error in my analysis of EXTI. I failed to include all the implications of support being broken at $0.28. Once this occurs this old support becomes resistance and one should wait for this resistance to be broken and then tested as support again before taking a position. Looking at an Hourly chart you can see that EXTI tested this $0.28 level as resistance at the open and confirmed it as resistance by bouncing down.
Using the 5 minute chart, the exit, if entered at $0.28 would be at $0.27 as the stock retested resistance 4 times from 12:55 ~ 2:00 and confirmed it.
JMHO
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