Stochs bottomed and curled up had +1 confirm above the MA
MACD bullish pattern
Now we need to move up and have the 5 day which leveled out today now curl up
On the hourly looking for both the 10/20 to get above the 50 and hold
The 15 min looks great with both the sochs and rsi cooling off a bit
I don't discount the potential that exists here in this. Its a perfect storm. A hedge that used the vaccum of news and maybe a malfunction in a PR from the company to drive this down to gather the shares with limits set as if they were in the bank waiting? Eventually SOMX will be recognized for its value. We're not there by a long shot. Until then this may travel a $100 before we get to that point. On that I'll use the range on a quality Equity trading it long knowing its headed much higher from these levels. Its a gift. Buy the overdone dips and sell the overdone spikes or topping action. Everyday there's a new one in the market. the key is to sniff them out.
Technically is the bottom in? Is this simply buying in preparing for the rise back up? As well as short covering?
I a fundamentals investor and have little knowledge of technicals except for some simple tools I use. B Bands, RSI, Money Flow, MCAD, and ETC. However, I'd like to know if this was a technical bottom last week?
Dances...Bottom is in and trend has changed. In todays market news can change the direction or energize it in moments. With hedge funds controlling the action in all equities its no longer a buy and hold startegy that will provide you peace of mind. Your better off waiting on the sidelines and putting your cash to work only when it screams at you then get the heck out at as the trend begins to slow and turn. Then wait for the next. Pick ten stocks and watch them for basing action and trade them short term.
Well so do I lol
But for now they are covering into the report
They get it a day early ........... so would have had it either fri ah or today pm
Im sure its a big # and its a crowded table
Watch them all trip over each other at the close