hi folks,
I hope you all having a dry/warm weekend for the ones in most OZ land states..... and some say we have water shortages? LOL
I'm still wearing my wetsuit !
Right O, here's my take on the WEEKLY CHART.... it's only my opinion... and I do like to be a contrarian in many occasions...
Now, this is purely technical's ..... we know the fundamentals here... which is extremely positive...
If we do get a positive announcement next week... you know what will be the candle formation for the end of the week... but, if we do get a major/sensitive positive announcement, those long white candles in the chart will look like baby candles.... "
to da moon"...
Now, taking silly emotions aside,
I do believe that our weekly chart candles are showing a Tweezers Top here.
Tweezers Top is supposed to be a bearish reversal but, I do have a clash with this formation that I cannot get it pass by.
Looking at the last 3 candles formation, I cannot ignore the combination/calculation of Volume by indicator and Volume by any Chart type...in my case, candlesticks.
Volumes are "engulfing" significantly and showing the strength of the current momentum.
I believe that momentum is everything in our lives.... sports, relationships, trading/investing in stocks, you name it.... that's the reason I've chosen the next 2 indicators... to relate with the momentum XPED's Fundamentals are with technical's .
RVI - Its an
Oscillator that is very similar to Stochastics except that the closing price is compared with the Open rather than the Low price for the period. Traders generally expect the RVI to signal direction shifts and to increase in Bullish markets when
momentum is on the rise and closing prices usually exceeds opening values. Fluctuations tend to be smoother such that divergences between the index and price behavior have more meaning.
the “Green” line, which is the smoother RVI values, and the “Red” signal line. The Relative Vigor Index oscillator is viewed as a “leading” indicator, in that its signals foretell that a change in trend is imminent, especially when lines cross into extreme regions or when values diverge from current pricing behavior.
- RVI is still trending up combining with the histogram(yellow bars in the volume) and the overall run on the main chart.
RVI is at 0.2583 vs 0.1534 which is NOT as near as the highs of Oct-Nov 2015(first 7 candles on this chart).....
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AROON - It is a indicator system that determines whether a stock is
trending or not and how strong the trend is.
The Aroon indicators measure the number of periods since price recorded an x-day high or low. There are two separate indicators: Aroon-Up and Aroon-Down.
Aroon indicators are quite different from typical momentum oscillators, which focus on price relative to time. Aroon is unique because it
focuses on time relative to price. Chartists can use the Aroon indicators to spot emerging trends, identify consolidations, define correction periods and anticipate reversals.
A surge to 100 indicates that a trend may be emerging or is current trending. This can be confirmed with a decline in the other Aroon indicator(Aroon-down).
The Aroon indicators signal a consolidation when both are below 50 and/or both are moving lower with parallel lines.
- AROON is clearly showing it's still trending up here.... not yet signalling a reversal or a consolidation in my opinion....
Aroon-up is at 100 where Aroon-down is at 0 at the moment.
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My quick take:
Well, I'm not saying that comes Monday and the stock will surge back to high 8's or 9's.... what I'm seeing here is a combination of consolidation/side ways performance until we get a possible update/announcement.
We did bounced from the Fibonacci 78.6% at 7.9 cents, broke 8 cents went up to 8.3 cents and we had a close at 8.2 cents......
What I am expecting here is 8 cents to firm up on Monday(hopefully) BUY IN's supporting it.....
I also believe that Monday is the most important day of the week for technical's only speaking. It will dictate the trend continuation or signal a change on the trend.
ALGOS: they are here to stay..... if and when they see the stock is trading near the bottom/reversal of its trading range, they will buy the dips and sell at some minimum, converting profit repeatedly. They are also buying more and more of the stock as it is approaching the bottom of the trading range and churning it/selling it as it recovers, and then buying again in a subsequent decline.
That's what we call trading from the long side.... some of them have been selling into periodic surges and liquidating partial positions...but there have been couple of interesting events where 2 of them had to "restore size" due to announcements and they had to attempt repurchases by buying and selling repeatedly in a fluctuating manner... easy to do with a spec and high volume volatile market/stock.
For the ones trading it(short term), trying to add more to the care or just bought in.... you need to be extra careful with your stops.... ALGOS are and always will prey on your stops..... remember 2007 and 2008 with BHP? Algos played it to the max and took stop losses and stop limits from many uneducated retail investors..... too easy when you play in a total different platform, gang up with other ALGOS and dictate trends on the market for their own beneficial gains....
WEEKLY CHART:
GLTA
cheers
T10