chart.., page-68

Up and running again!

Weekly chart observation..

EMA & MA Weighted - turned negative this week.
Linear regression - turned negative this week.
Momentum - indicates an overbought condition. A downturn possible here.
Parabolic - the parabolic sar been penetrated this week, issuing a bearish signal.
Stochastics - issued a sell signal. (but only good at picking tops in a bear market)
Volume Oscillator & VROC - bearish.
ADX - falling.

RSI - neutral territory but somewhat overbought. (60.62)

MACD - bullish territory. (but short term decline possible)
Accumulation Distribution - a minor bullish divergence in evidence of a 5 bar new high that’s not mimicked by a similar move on acc/dis looks ok here..
DMI - bullish territory.
Ultimate Oscillator - currently a minor bullish divergence.
TRIX is in bullish territory. (although overbought 384.20)

The long term trend based on a 45 week MA is up. The short term trend based on a 9 week MA has just turned down. The short term trend based on a 5 week MA is up.

Been thinking about this hammer thingy bob on the weekly chart. But decided against being overly enthusiastic about the strength behind it at this stage. I still preferred a 17.0 close last Friday. The volume would have been more attractive too.

As mentioned previously, I didn’t favor the tech resistance at 16.0 on Thursday, nor do I for Friday.

Perhaps next week’s chart can improve..