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Otter Tail Corporation Message Board

  • regisucks2000 regisucks2000 May 3, 2006 4:14 PM Flag

    Charting

     

    I have been following TRAD. Yesterday it bounced off the 50 EMA and it looked good. I did not notice a gravestone doji as I am new to this. When it opened lower and tanked all day I was looking for it to bounce again.

    Now that it closed below the 50 EMA and had a gravestone doji I too expect more downside.

    But I don't see it going back to 10 like Mati.

    What am I missing?

    http://finance.yahoo.com/q/ta?s=TRAD&t=3m&l=on&z=l&q=c&p=e200,e50,b&a=r14&c=&vm=
    r

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    • regis...check the 1 year chart..i will never trust these gaps from 10 till 12...

      q 41.80 right now..nice...a little more till ndx 1700..the reverser there and then back till 41.80..for the higher base test and then the bouncer for over ndx 1700..comon...

    • Regis,

      You are not missing anything. Might I suggest also using the 20 day MA. This is a better short term indicator if you are day/week trading.

      Yesterday, TRAD broke thru both the 50 and 20 to the downward side on 1.3x avg daily volume. In the short term, the line in the sand was the 50 day.

      Now, the next area of support is the 200 day around $12.20. So, you need to look for two things....1. Can it hold the 200 day, and stay in this range on decreasing volume. This will allow the indicators to reset. 2. Any break above the 50 day and 20 day ($15.13 and $15.35) on 1.5x avg daily volume, will tell you the buyer have returned.

      TRAD is in a wait and see mode right now. Doji's by themselves don't really give any insight, it is the action the follows that dictates the short term technicals.

    • If you look at a 1-yr P&F chart, Box size =1, reversal = 3, you'll see that TRAD is in a downtrend. So you're fighting a long-term trend. I like to have the P&F in my favor before I use any of the other technical stuff. NKTR will have a P&F breakout to the upside on a close above 22. INTC and MSFT are in bear trends. RIMM is ready to collapse on the P&F. P&F is a simple, clear read and not open to emotional interpretation.

 
OTTR
29.06Oct 22 4:00 PMEDT

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