Yes, I do have some knowledge in technical analysis after reading at least 15-20 books on this topic. I am using a candle stick theory and all indicators are derived from this theory as all indicators are based on the volumes and prices. As I have already mentioned in this thread Rob is not the God and ema41 indicator is not a magic.
The candle stick theory has a very long history of ~300 years when the basics were set up in Japan during trading rice. Sometimes I am using different indicators but the ema41 has not been used in my experience, however I have seen the references to this indicator in this thread.
Again in any particular case you should make your own decision based on technical?s and maybe some fundamentals. In this particular case I decided to sell even maybe there are some good fundamentals but it can be seen later and definitely not now as the chart has not even reached the flat part.
For this particular case if you look for example at the GWT chart then you will see a flat part is being started to form. So this stock can be a candidate for a purchase even the GWT company has not released any news on the market recently, but there are some other fundamentals which support the price in a relatively very negative sentiment on the market.
Some stocks such as CKK dropped sharply but having some fundamentals rebounded quite quickly last Friday. So as you can see for this particular case ema41 should not be applied.
irynka
BLY Price at posting:
$3.35 Sentiment: None Disclosure: Not Held
