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Rank: Advanced Member
Groups: Member
Joined: 12/2/2009
Posts: 52
Location: Canada
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Hey all,
Okay, DVR looks interesting. We are oversold on the stochastics daily and weekly. The weekly could be a bit more oversold but it is in the right area. We have found support at the 7.12 level. Volume has yet to pick up but that could happen tomorrow. Comments? Cheers!
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Rank: Advanced Member
Groups: Member
Joined: 12/2/2009
Posts: 52
Location: Canada
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Hey all,
Alright, we came back down to that support level at about 7.10. The market pulled back today and so did this stock. It seems that this stock will totally depend on the market tomorrow. We shall see what the jobs numbers do to the overall market. This could be the area for a bounce. We shall see tomorrow. Watch for the volume to see what happens with this one. Comments? Cheers!
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Rank: Advanced Member
Groups: Member
Joined: 4/1/2009
Posts: 128
Location: colorado
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Another low volume stock with money moving away (CMF negative and decreasing. PPO is flat and stoch is below the buy signal. DVR is trading in a downward pattern. I would wait until price moves above the 5 and 13 EMA, then check volume.
Cheers
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Rank: Member
Groups: Member
Joined: 11/15/2009
Posts: 13
Location: New Mexico
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To swhite5. I thought that I knew my technical indicators but since reading the posts on this site I find that I have a lot to learn. What do you mean by your CMF, PPO, and STO below buy indicator? I assume the last is reference to the STO long ave breaking above the short ave., but am not sure.
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Rank: Advanced Member
Groups: Member
Joined: 4/1/2009
Posts: 128
Location: colorado
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If you go to stockcharts.com - free chart school there are explanations of most indicators. I have had success with percentage price oscillator (PPO) which subs for a MACD and the Chaikin Money Flow (CMF) that show hows money is moving in and out of a stock. The stochastic is a 12/3 slow stochastic indicator that shows overbought (sell at 80) and oversold conditions (buy at 20). Check out VLO which I bought yesterday as an example.
Cheers.
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Rank: Advanced Member
Groups: Member
Joined: 12/2/2009
Posts: 52
Location: Canada
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Hey swhite5 and glh101282,
Thanks for the comments. I am trying to refine my scanning abilities and reading the information you posted helps! When I am looking for stocks I am looking for stock over 1.00 and less than 10.00. This is just based on the size of trading account I am using. Also, I am looking for oversold stocks with companies that are posting profits. I know, I know, you can read the chart and the charts don't lie whether a company is posting profits or not but this was one of the rules that I set down and am trying to stick to. Not that I am advocating for DVR but, it does trade average about 1 mil shares. Which to me is decent. Anything under 500,000 is getting a bit thin. Also I am looking at support and resistance lines. We have pretty decent support around the 7.00 area. So, this one for me is not a buy yet until I see an increase in price on some volume.
I like the chart on VLO. We got an increase in price with an increase in volume. Very good. Stochastics are turned up and coming out of the oversold area. Also, the rsi is increasing. Looks like a buy to me. Unfortunately, the stock is a bit too expensive for my trading account. Also, the company seems to be losing money at present based on the last earnings report. But, if you go back a year they had profits so.....we could be going back into the green with this one. Actually, I just had a chance to really look at this stock and it looks like a strong buy and a move into the 18.00 area would be likely.
Thanks again for the comments! ;)
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Rank: Member
Groups: Member
Joined: 12/6/2009
Posts: 11
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looks good!
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Rank: Advanced Member
Groups: Member
Joined: 12/2/2009
Posts: 52
Location: Canada
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Hey all,
well looks like we got a move up in price and a slight increase in volume. It will be interesting to see what tomorrow brings. Cheers!
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