uptrend, page-6

jsbert,

This stock has been in a downtrend since the end of July.

It has been trading consistently below the moving average since the end of july and has only recently poked its head above the line.

It has still been in a downtrend even from the 13th october, unfortunately there is no sideways pattern as yet.

Let me assist you in seeing this.

If you draw your trend lines from the low of 13th October through the closing lows on 27/10 and 20/11 then draw your upper trend line over the closing highs of 22/10, 4/11 and 7/11 you will see that the trend has still been down.

You can then see that on the 27/11 that mae has broken out of the downward channel, this doesnt signal that the trend has been reversed though. Mae also traded above the moving average on 27/11, momentum indicator also hit the positive, would still love to see the macd trade above the zero line as well.


Hope that helps...



cheers