Bounced today of bottom of trend channel from july 04 / sept 05 and at 50% fibs - stochs and RSI way oversold - chaiken oscillator and OBV showing divergence - williams showing higher lows
Looks like a bottom forming!
Read an article on IC forum few months back where a trader uses a system called NT4 or something similar - involves taking a position in a stock that has formed an inside day and where the range for that day is smaller than the previous 4 trading sessions where the stock has been trending - setting a stop loss at bottom point of the inside day
Noticed that OPL has met these requirements today
Will be interesting to see what happens tommorow
My money is on an upward move
Cheers
inside day
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