On June 10th I wrote "MACD has been down for about 4 days, Fast Stochastics peaked over 80 now below and is headed down. Slow Stochastics about to be recrossed signalling a bearish crossing. RSI weakening over the last 4 days. Best trend indicators I have. RayRay still bullish with his Pom-Poms flailing away. Best counter-trend indicator we ALL have. Looks like preliminary support and target near 4.25."
Here we are. The RSI is at 31...30 is a good target. The stochastics are well below 20 and have not yet turned up for a bullish crossing. The support is at 4.25. We are here. If the stock moves up over the next two days, a bullish crossing in the stochastics as well as a two day positive in the MACD will confirm. A lot has to happen over the next two days...but if it does...the first Buy signal in many months. I'm sure this will delight Coleen who has been happy to hold on for dear life. RayRay, undoubtedly has been hitting the tops and bottoms (without ever posting his trades, of course). He, for some reason, LOL, won't post as he enters a position....I wonder why that is? But his 20/20 hindsight glasses are just about to be put on. He will expound how well he did with his profitable trades...unfortunately, all of this only exists in his fertile imagination.
Thanks. I appreciate the comments. I sometimes believe that people like Payshontone have no place on a board like this. They offer no substantive opinion, they only complain about others who post advice that differs from their own opinion or holding position. But, as you said, if they tire of reading someone, maybe its time for them to leave. Who are they here to listen to... RayRay? I've stubbed my toe and had a better time.
This has hardly anying to do with stochastics. It doesn't take a scientist to see that the price of oil has fallen considerably over the last couple of weeks. That coupled with no PRs and a low volume of shares being traded nobody is interested in buying ENG right now.