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Universal Display Corp. Message Board

  • archieroo3 archieroo3 Mar 18, 2013 2:35 PM Flag

    PANL TA

    Downtrend line on daily RSI remains intact despite Friday's gap up. That tells me intermediate trend is still bearish. Weekly RSI is neutral as PANL remains in 2 year triangle. The upper trendline for that triangle is currently 35. By my count, this is wave D of the triangle, suggesting a wave E in the downward direction to follow. Bottom trendline of triangle = 20 ish.

    Sentiment: Sell

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    • "That tells me intermediate trend is still bearish."

      Well, it would seem wave E has taken hold. Uptrendline formed by recent lows is under heavy pressure.

      Daily RSI seems to be the best indicator on this one right now. Recent bearish divergence at 50+ suggests price may continue downward until daily RSI bottoms at 30ish. May even need for a bullish divergence to appear before going long here again. This means clear sailing for shorts for the intermediate term. PANL ON.

      Sentiment: Strong Sell

    • Seems to me PANL's low volume today on a down day is bullish for short-term trading.

      • 2 Replies to archieroo3
      • THUR 3/21 - Bollinger band on 60 min chart is narrowed, suggesting a break in either direction would result in significant continuation. Going back to 2/28, there are two ways to read current low level structure. As you can probably guess, one is bullish and one is bearish. This means we need to wait for price to reveal itself itself further before taking a new position. Bull side - 2/28 was wave 1 and pullback therafter was wave a, followed by wave b (higher high wave B = bullish as well), followed by sideways c wave in area of wave 1 high (bullish as well). All of this would suggest a continuation to the upside (wave 3). On the other hand, what I have labeled as w1-a-b could just as easily be its own abc structure, followed by sideways action that is part of wave c. If this is the case, then we will be breaking to the downside soon. Like I said, at this juncture, nothing to do but let price reveal which wave structure we are in. Be careful of head fakes coming out of tight bollinger bands.

      • In @31.60, out at 32.60. Sold at return to 20ma on 60 min chart w RSI @50. Another day, another dollar.

        Daily chart shows price = 20dma and RSI back down to 50. Test of support.

        3 Day chart - price above 20ma and RSI still 50. Slope of 20ma = positive while RSI slope = negative.

        Big pattern triangle - connecting the highs leads to 35 in current time frame.

        Wave structure - likes like a 4 wave on 3 day chart, suggesting there may be another rally to 35 left in this puppy.

        Key to next move - watch RSI on 60 min chart. Needs to break through 50 to flash a buy siignal.

        Thanks chesahbinu for your kind comments. Arch

    • Commenting on Biff's note, I reviewed Archie's past posts. He appears to be a pure technician with no particular bias up or down but only with the intention to make a profit. Too many Long's automatically dismiss those who appear short w/o justification. Thank you, Archie for your various analyses.

      I have been investing in and out of PANL since about 1999, always hoping for a bright future, but that bright future always seems further and further away. I believe the brightest future for Universal Display, is--pun intended-- the lighting industry. Television use is declining,and even a new OLED technology there may not turn it around to the positive. I would however, like to see an AMOLED or PHOLED PC display.

      David

      Sentiment: Buy

    • NAW 6 WEEKS BEFORE THE BREAKOUT ! The longer the base the stromger the rise.

      Sentiment: Strong Buy

    • I think you are very wrong. This stock has been on a run of higher highs and higher lows since November.

 
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