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Cirrus Logic Inc. Message Board

  • gr0operator gr0operator May 18, 2013 9:19 AM Flag

    From a...

    chart standpoint where do we lie.

    First, the low. That low of 17+ touched from the upper side the upper monthly trend line created by the two old highs of 62+ and 50- and held. Last week, the price broke the major down trend line created from this last down and broke it decisively. The weekly stoch is turned up for the first time in months. This weeks weekly low is the upper side of the major lower trend line created during the past four years. The recent slightly down movement has been lows along the upperside of the trend line created since Jan 1 13. The price is walking down from the upper side the most recent trend-line and volume is falling. The monthly stoch is turned up for the first time since Sept of last year.

    The major issue is the major resistance between 24-25. A break through 25 means that the price is really turning up.

    Over the past few weeks, the price has moved up on what looks to be a flag pole with high volume with this week being a lot of days of basically sideways movement on gradually lowering volume. The MACD is pinching, fast line higher than the slow and trading above the 50 simple and 30 exp. This is extremely bullish.

    Next few weeks are extremely important.

    Grade Zero

    Grade Zero

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