candlestick: meeting lines, page-6

Sorry but I forgot to mention one more thing:

I think the key development currently is something quite simple; and that is the upward progression of the 50 day Exponential Moving Average.

The significance here that since May, the trend of the 50EMA is up indicating 2 things:

a) The average price on a rolling 50 day basis is up with a nice bullish slant/bias.

b) It would typically indicate that over the course of the last 5 or so months,and when everything has come out of the wash, that there has been solid accumulation of the stock.

There has been been 4 instances in the last 5 months where CLOSING prices have held above the 50EMA.

So basically, if you look at Friday's close versus the 50 EMA, they are both walking a very tight rope so we hope that the 50EMA, in all its simplicity, holds true again this coming week.

Cheers
Babylon