I just noticed there is double support at 19.83. This was an open gap which got filled. It is also support of a trendline, and it has touched it 3 times. I believe the 19.83 is the number which must hold.
Thanks, cowboy. As to projections, there are still 2 other gaps that need to be filled 18.89 and 17.78, and both are 23 cent gaps. I believe there may be more downside based on what I am seeing. On the 10 d hour chart, it appears a bearish EMA 13/34 crossover is about to occur. When the 13 moves below the 34, it indicates a change in trend. In this case it would be down.
On the 3 mo d chart, the trend is still down. Notice how the EMA 13 is below the EMA 34, and it shifted direction and is now pointing down.
SLW was rejected at the EMAs 5 and 9 both now located at 20.32. These 2 EMAs usually hug price action. When price action moves below the EMAs 5 and 9, the stock begins to break down.
Thanks cowboy. Appreciate your posting it.
At this time, SLW is finding resistance at the EMA 5 (20.35) and EMA 9 (20.34) which I guess is equivalent to your W3.
On the 6 mo d chart, SLW still shows negative divergence on the MacD and RSI 14.
I will be the first one to admit that I am never 100% right; but I am right 90% of the time. How about you? Can you give us a reading based on your skills.
As mentioned yesterday, a shift in momentum appears to be taking place. Pre-hours support at the 10 DMA has broken. The last trade is 20.01. SLW must jump back over the 10 DMA (presently located at 20.21), and have staying power (remain there). Otherwise, it may continue down.
Yes, there was. There are open gaps at 20.39, 19.83, 18.89 and 17.78. The last 2 have 23 cent gaps, and I doubt Mr Market will forget about them. Gaps are filled 95% of the time.
Looks like a shift in momentum according to ADX, RSI 14, Fast Stoch, ROC, and CMF. EMA 13 support is 20.48. Support at 10 DMA is 20.21. Have a nice evening.
On the 6 mo d chart, there is a Symmetrical Triangle between 19.16 and 22.18. Then there is a Falling Channel between 18.39 and 22.18. At the moment, SLW is finding support at the EMA 13. This support must hold or SLW may continue moving down. There is an open gap at 20.39 and 19.83.
For 15 days, SLW has remained below the EMA 13; and for 23 days, it has remained below the 10 DMA. The moving averages must realign to read 10/20/50/200. At this time, SLW has a perfect bearish alignment (200/50/20/10) . A jump over the 10 DMA would be nice, but it needs to have staying power and remain above the 10 DMA.
Do it the easy way without having to sit at you computer every day watching SLW all day long.
Look at the 10 yr mo chart. How often has the MacD crossed over in those 10 years?....3 times should be your answer. Those crossovers don't come around very often, but when they do, go long or short. Also look at the EMAs 5 and 10 for crossovers. These 2 EMAs often give early clues. An EMA 13 and 34 will indicate a change in trend......up or down.
At this time, it is the EMA 5 and 10 on the daily that is keeping SLW from moving up. SLW keeps finding resistance at these 2 areas. The bearish EMA 34/13 indicates the trend is down for SLW.
SLW filled its morning gap yesterday, and it filled a gap at 19.34, but there are still 2 other gaps that need to be filled.........18.89 and 17.78. Mr Market will not forget about them. It doesn't matter how long it takes. They are filled 95% of the time. GL