someone dropped a block at the market...hence we trade 2.70 a little ridiculous....but then the AMEX market maker seems to like the volatility...theres been stock offered heavy for the last few days....its the trading thats not right here NOT the fundamentals
Good Luck with that, I do a little charting, but only to try to anticipate these moves and swing trade a bit on the longer term directions. What I was hurridly suggesting was that charts go out the window with news and we anticipate an earnings release in the near future so don't jump in and out or you might miss next leg up.
Keep the TA coming......
It is close enough to be a hammer. A little tail on the top is ok. I see no negative divergen on today's indicators. In stead I see positive divergen. MDF down a little, yet ULT, MF are pointing upward. MACD is a lagging indicator. Volume is good when the stock bounced off th 50ma. I think it should back to $3.3 before earning.
Hey I'm a rookie here and have just started appreciating the art of charts. One thing I want to say about the MACD is that when looking at the last five days you can easily see why the price is going down. When you look at the last 6 momnths however you can see why this is just a normal dip on a overall upward movement.
The hammer is a bullish reversal pattern that forms after a decline. In addition to a potential trend reversal, hammers can mark bottoms or support levels. After a decline, hammers signal a bullish revival. The low of the long lower shadow implies that sellers drove prices lower during the session. However, the strong finish indicates that buyers regained their footing to end the session on a strong note. While this may seem enough to act on, hammers require further bullish confirmation. The low of the hammer shows that plenty of sellers remain. Further buying pressure, and preferably on expanding volume, is needed before acting. Such confirmation could come from a gap up or long white candlestick. Hammers are similar to selling climaxes and heavy volume can serve to reinforce the validity of the reversal.
...In other words tomorrow's action may indicate if this thing is going up or down or sideways.