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  • edgordon@ymail.com edgordon Jul 12, 2014 5:56 PM Flag

    CHARTISTS ...Thoughts.??

    TECHNICALLY the chart this week got hammered but is it broken ?

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    • I use two indicators a money flow index at 14 and a b% indicator with Bollinger bands at 20 and 2
      I watch for stocks when the money flow gets to 80 with the %B also around 80 or higher
      6/11 the price action kind of hit the 20 day moving average off it from 16 to the 18 level
      that move making my indicators what I want to see from a possible buy
      It takes a really strong move to turn the money flow and %B to 80ish so i usually wait for some pull
      from the top of the band to reduce chasing so many break out
      7/01 again it kinda ran into the 20 day average and started running to the new highs
      I started buying little bits hoping it would run and never look back after the holiday and boom it broke down off the downgrades.
      On a daily year chart the money flow has gotten this low twice before. Mid Dec and Mid May Both great entry points. This Thursday action brought the money flow to 31.72 Friday made it 36.51 so maybe the 16 is really becoming support here. What I don't like is the 200 day moving average is at 12.83 almost 25% below the current level
      If she can hold here by the 50 day moving average and bottom Bollinger Band and u trust Apple how can u not be buying. Wait till it drops to the 14 and it might never get that low. I did save some money thou to buy again at 14 if need be

    • Cup forming - heading back to $17.30 area early this week - key break point

    • some damage, but the faster this thing trades back above the 50dma the better, and I'll leave it at that. Cali likely has more of a handle on the chart here now. Enjoy your wknd ed, I know I am...

 
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