Thread: Nyse EMC Thread
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Old 04-19-2008, 11:45 PM
Naamplao Naamplao is offline
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Join Date: Jan 2008
Location: Alberta, Canada
Posts: 143
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Interesting stock.

From the SharpChart there are several positives

The Bollinger Bands appear to be widening indicating a breakout...the Closing price is above the upper band so it would seem the breakout is positive.

The Accum/Dist, Trix(15,9) and RSI 14 is moving in a positive direction as well the price has closed above the 50dayMA....a good sign.

Here is the 5 day line chart from Yahoo



Nice rise...but has it topped out for a while? Note the narrow BB's. There will be a big movement early next week. It is hard to tell if it is up or down Monday opening but I think there is a fair chance it will break upwards.

Here is the P&F chart (the long term view)



Here is the meat....

First the positive....you have a strong support at $14.25. I do think this could be the bottom...if it did break this line you are in for quite a tumble of $4-$5 down to somewhere around $9.00....But I don't think this will happen.

You have a lot of resistance lines to pass before this rises unimpeded.

Actually the present price at around $15.50 is right up against a resistance diagonal running 45 degrees from back in early January when it shouldered at $17.00.

If you break above $15.50 then the next resistance is at $17.00 then from the SharpChart there is the 200dayMA line of $18.00 to $18.30 is another resistance.

There are a lot of stutter steps to get beyond the point where it will freely rise. I would expect slow rise but lots of sideways movement along the way.

Worth watching but don't expect a dramatic rise.IMHO
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I am not a broker....just a chartist that retired 4 years ago and invests in the stockmarket. Do your own DD and accept or reject my observations as you wish.
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