Past resistance = future support. Look how resistance on 4/10/2013 predicts support today. Came right down to 108.90 perfectly then bounced up.
Toyota just got interesting. For the first time in several months it's found support on the other side of a dip. This severely undervalued stock may finally have gotten enough distance from the 2009 recalls to start moving to it's real value, somewhere in the ball park of around $228.70. My one year price target is around $155. I'll continue to look for entry...
Now that the dust seems to have settled from the dilution, I'm looking to get back in at a very attractive price. A low of 4.11 has been established 4/29. Buying anywhere at the 4.41 level will probably be a good price, but I want a little bigger margin of safety and larger profit potential. I'm going to be looking for a double bottom opportunity at around 4.11.
Stochastic is below the critical level of 20 on every time frame from 1min-1 day. This selling pressure is unsustainable.
Stochastic has already crossed the signal line on the 4 hour and 3 hour charts. Still oversold on both time frames. Day chart to follow soon.
Stochastic has dropped below the critical value of 20 and PLUG is now oversold. An oversold condition means that the recent downside momentum is not sustainable.
Plug is below the critical value of -80, it is unlikely that selling pressure can continue at this level.
Is today the day it busts through the triangle?
Look for a move that mirrors the beginning of the bull pennant from the point it breaks upper resistance. Look for volume to rise sharply for confirmation.
Look for possible bull pennant. If upper resistance of pennant is broken look for a target of 2.80 from the break (price around $10.30-10.50). Look for sharp rise in volume for confirmation. Place protective stop below the break line of lower support. See chart for details.
MACD looks like it's about to cross the signal line. This is a bullish signal. Stochastic is looking good as %K is above %D, and there's still a ways to go before it signals overbought conditions. There's a whole lot of nothing in terms of resistance between $8.46 and 10.30. My take is there is huge upside here. My prediction is that it could pop at any...
Not much of a gap left here. It's going to bust through.
Interesting relationship between the SMA on a 120 chart and green wedging support line. What do you suppose is going to happen when that support line hits the resistance line at $7.23? My interpretation is that the sellers are slowly being wedged out. As the wedge gets more and more narrow, the more likely we'll see a breakout in the direction of the trend (up).
$7.23 is where a lot of %5 stops are going to be placed for short sellers today to call. Once that is breached, it should have no problem getting up to the .764 fib line ($7.77)ish. Another interesting pattern taking shape here is resistance at $6.86, and a support line wedging up to meet it. To me this looks like sellers are losing Control.
% R has crossed above the critical level of -80. This suggests the bottom has been formed.
Stochastic shows strong bullish signals as the % K has crossed above the % D. Looks like there's still a long way to go before Stochastic indicates overbought conditions.
Looks like the sellers might be getting pushed out here. That's what the last 6 and a half hours look like to me. I'll look for more confirmation.