hi all.here is a monthly chart of qbe. there is a pattern in the...

hi all.

here is a monthly chart of qbe. there is a pattern in the macd that has me interested in this stock, the pattern i call the macd thirst.
you can see at the start of this downtrend there was a bearish divergence in the macd, a bearish divergence is normally a indictor that this trend has finished on this time frame.
there is now a break in the down trending macd resistance line. you can see the last movement down in the sp (from 14.82 to 10.02) but the macd lines did not cross to the downside. i feel this is not a bullish divergence.
my target for the macd thirst is the last high $14.82 but i am playing this safe so my target is $14.22
i have invented the macd thirst and have done little backtesting.
i have a time frame of around june, july 13 for this target to be hit
any comments would b great.

have a good one.

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