4 replies to this topic

[securelstmile]

than to you for what I believe I am seeing.

Now are these negative divergences on macd and rsi on this weekly chart of am I misinterpreting? I have no position but this is one I have traded in the past and the chart intrigues me as a possible short candidate.

http://stockcharts.c...id=p49429309102

[mss]

I'm not sure that I am the best one to ask about shorting a stock.
Here is my opinion on this stock, and from that YOU decide what you need to do based on the time frame and risk tolerance involved.
Weekly chart does not suggest anything to me, other than a shallow consolidation and a posItive cross of the SLOW STO with RSI suggesting a working off an overbought condition. The 8ema is 16% above the 34ema and at the present the trend up. Yes a decline to 38-39 is very likely but only a break of that trend line would trigger an alert of caution.



The daily chart is making a strong suggestion of a normal consolidation and the only thing that might be "caution" is the MFI is on a long term shallow down trend with price rising. However, consolidation could correct this trend quickly.



This may not have answered your question, but this is what reasoning I go through to decide what to do with a trade. THERE ARE other things to consider also, but that is an individual matter.

Best to you and hope this helps a little.
mss

[securelstmile]

It does, I am still learning and this is has helped me. Thanks so much.

[PorkLoin]

Scott, you're one heck of a nice guy. Thanks for that reply, and for all you do. Best, Doug

[securelstmile]

He really is, I guess it is because he must know I am a mom and you can't say no to a mom on mother's day.