nice call on the low macrae , page-8

Hi Tajer

not sure, what is not clear to you

We are looking for a bottom and reason to resume a long trade arent we.
So any support levels or oversold indicators are used..
with AGS..there was a price support/ breakout level at 150
(old resistance becomes support)
It is also now a major fibonacci retrace % level.
The price "rejection" is when a stock hits a low and bounces off it leaving a lower candle shadow .
I put up a chart on monday looking for historic oversold stochastics using a big chart.. the stochastics were to FAST to be usefull.. so here is the long term standard set, back tested and showing it hit historic lows today

what is also interesting are the high volumes today that usually punctuate a bottom as the stale bulls are stopped out..
I would wait for a three day higher close before reentering, thats just a personal risk aversion..
cheers