amg63 & hoofa's obj tech thread, page-4

I appreciate the mention Bluebush, i do hope that we can get all of the TA's on this forum to also share their wisdom within the next few weeks as i would love to learn from others also. Bluebush for me MACD is like a much more reliable slow stochastics indicator which has worked like clockwork in OBJ's past. For the moment i can't say that we have entered into a clear new trend as it still early days so i'd keep a keen eye on the action.

Some observations:
-As you have mentioned bluebush the weekly trend has broken out from the downtrend channel.

-Its still early days in terms of MACD which has only just touched on the resistance set in april of this year so i'd be waiting for next weeks action to confirm the retest of the resistance set back in August of last year if it does i'd expect a run up to 3cents.

-And of course the accumulation/distribution that upon close inspection has just gained more weight in my eyes (was a little ignorant of it in the past) I compared it to the trading activity and in the past it mirrored the trading activity, which means that it was a traders market back when we were anticipating the 3M announcements but of course since our GSK announcement of last year it has never broken its current uptrend and has only moved from strength to strength which of course means that its no longer a traders market but an accumulators market. As shown on the graph the trading accumulation phase in november 09 to late jan 10' saw the accumulation distribution collapse whereas our prolonged accumulation phase which since the GSK announcement has never seen the accumulation distribution budge.

-Surges i agree with you completely, i do also expect a run up before announcements, IMO OBJ has become a leaky boat as we've seen out of the ordinary trading activity a couple days or a week out from announcements.

-50MA (pink line on the daily chart) is starting to rear its heard northwards, an intersection of 200MA (grey line) would be a very bullish sign.