I thought I would add my 2 cents about this stock.
I know nothing about what this company does....so I looked it up
Quote:
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Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project.
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Interesting....Here is my TA
Let us look at the SharpChart for the past year
DPDW - SharpCharts from StockCharts.com
At the beginning of November there was another market meltdown for all stocks and DeepDown was not immune. But look at the Accum/Dist chart from then until present....it kept right on rising!!! Those that understood the operation of this company kept accumulating shares that nervous investors were dumping IMHO. This is a good sign in bad times.
At present the share price has risen above the Bollinger upper band....The RSI has steadily risen to 70%...steadily is the operative work here...the TRIX(15,9) is also positive...good signs
Here is the P&F chart for a longer view.
There was a significant resistance point at $0.90...first from a horizontal line from the peak at mid-Aug/2007 and also from the diagonal from the shoulder at late Dec/2007 at $1.08/$1.05 which crosses the current column at $0.90 also....we have broken this line and stayed above this mark.
The next resistance point is about $0.98 (the 200dayMA from the SharpChart) then $1.08 (the horizontal line to the shoulder on the left then the diagonal from the shoulder above this shoulder both cross at $0.98)...there are further resistance points which are moot unless we pass $0.98 first....and I believe this is certainly doable.
Here is the Yahoo.com 5 day line chart
Nice chart!! Look at the rising volume(rising momentum)...look at the narrowing BB's...the $0.98 resistance level...will probably be smashed soon.
This stock looks like a winner to me.