I'm long YRCW so.. However I'm also charting ... We got a break out of the wedge but there' much more to see.. We've got a buy signal on the slow last Friday.. Slow Scholastics is one of the best indicators. not perfect though..
We've also got a buy signal on the ADX..
However, patterns are important too..
Yesterday we refilled the cup. cup refills often kick back after hitting resistance, form a small cup retracing, a few pennies on this, 2-3 maybe as much as 4.. which may last a period of 2-4 days. and create a bull horn bottom signaling buy once again..
Then smack top once more, and possibly pull a handle up and out to the next strong resistance.
You people who thin you are controlling the shorts?? LOL, yahoo does not control the market, and this company is hugely diluted.
If yesterday's volume did not convince yaw, then forget about it, stay away from stocks, lol.
we'll get back to dilution..
In the mean time,, we'll need to take out .60 today or that secondary small cup will form.
Also look at the bigger picture.. we are inside of a long channel. Currently that channel tops at .83-ish.
You can not do a good TA without taking in the sentiment..
Very important thing happened yesterday, nice pop but WHY?
was it that news about programmers? did a leak pop it early rumored 'Good news' If that was the reason we know several things.
1. there are millions and millions of bucks sitting on the side lines waiting for a reason to jump in.
2. yesterday was a fluff, unless we learn something positive today.
3. several triggers we pulled on TA, once .48 was taken out.
4. next triggers should be set to pull at .57..
5. there's more but yahoo wont give me the room.
OK for your wedge, I've been tracking my own too.. But there's a bigger ascending wedge we popped out of, from last year.. Tues, sept 29 $4.99 under the wics pointing to yesterdays' break. This is the lower channel pop out, it currently resists the wics, starting Friday sept 25..
This is long term, 1 year trending verses daily. their values are higher..
Anyways, dilution.. we've got to have a signal that those who could dilute us have completed. other wise they'll keep pouring the stocks on it preventing it from moving. MAJOR IMPORTANCE.
OR THE LONG TERM HOLDS need a positive reason to do so.. Yesterday's news was not that reason..
Bigger picture the CEO told you months ago.. The 45 million dollars worth of notes WANT YRCW TO FAIL!!!
Why? they've got insurance on their hold.. they get their money back if YRCW fails.. if it succeeds then they have to wait years..
So, do the math.. you could have Representatives here bashing YRCW for the 45 million.. those people will do anything to make it fail..
Dilution,,, the only reason YRCW could get past a buck before the reverse split is sentiment, No TA can get it there.
People have to believe that YRCW will over come those note holders.. As was the obvious yesterday, several millions of dollars are sitting aside waiting for a reason to support YRCW, not until that reason is exposed is any TA worth consideration of more than a few cents here and there..
Get .60 today to be able to hold the .545 break, VERY important.