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YM BioSciences, Inc. Ordinary S Message Board

  • dnwang dnwang Dec 5, 2012 2:07 PM Flag

    Need to close above 50 dma, $1.65..

    otherwise chart points south..

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    • dnwang

      With all due respect......at this point in time with all that is happening......I've thrown the chart out the window!!!
      We are in a slight upward channel since Nov 16th but....and that is a big but.....there are events about to unfold that chart or no chart can't be predicted.

      Gopher

      • 1 Reply to flgopherone
      • Gopher, as much as I agree with you, unfortunately there are hundreds of investors out there that look at YMI's chart solely and literally have no idea what the company does. I myself, do that with a few stocks (not YMI included). And unfortunately with the advent of discount brokerages, many stocks are like that. Do you think AAPL retreated to $550 from $700 based on weaker fundamentals? Initially, no. DN's claim is due to the fact that stocks that do not pass 50 day averages when they hit, tend to retrace.
        MY problem with that prediction, DN, is that we already surpassed the 50 for the last two days, therefore we did not have trouble with the resistance point.
        For others, if you want an example of how this works, go to finviz...look at YMI in March when it was unable to break the 50day, it tanked. It struggled to pass it again in May, but when it did, it shot up 17%.
        It also attempted it on October, missed, and we went down to 1.03.
        Yes, some of it can be blamed on "manipulation," but for some reason, those who have the ability to control stocks tend to do it on days like this, possibly due to a means of hiding it. But, historically, it works. I believe in fundamentals too, but to outright toss charting out the window is foolish. Either way, I don't agree with your prediction today, DN, since we've already surpassed it, that means we have a few days to pass it before we'd have to worry about tanking. On top of that, as Goper said, many eyes are on CYT right now for the next week, which I think will trump the techinical traders based on recent volume.

 
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