Posted On: 01/01/2014 9:07:10 PM
Post# of 2561
EWSI Daily Chart ~ Looking for a Bottom
After weeks of decline, the FullSto and MACDs are in very oversold territory and begin to crossover into positive signals. I own EWSI at higher levels when the stock was holding the MA100. I then added a few more when the stock trended along the MA200. Wrong both times. What I didn't do was listen to the charts. They were telling me that the momentum shift to the downside wasn't completed yet. Just look at the FullSto and MACDs. They were screaming at me to sell and wait it out. And THAT, my friends, is why I continue to stress the importance of adding technical analysis to your box of tools when investing. I will definitely be averaging down on EWSI this week. Those of you that followed me in at higher levels, smack me in the head next time when I don't react to the charts' yelling! While investors have been shouting about the millions in revenues, which is true, the technicals have been saying it just wasn't time yet to enter the stock. GLTA
After weeks of decline, the FullSto and MACDs are in very oversold territory and begin to crossover into positive signals. I own EWSI at higher levels when the stock was holding the MA100. I then added a few more when the stock trended along the MA200. Wrong both times. What I didn't do was listen to the charts. They were telling me that the momentum shift to the downside wasn't completed yet. Just look at the FullSto and MACDs. They were screaming at me to sell and wait it out. And THAT, my friends, is why I continue to stress the importance of adding technical analysis to your box of tools when investing. I will definitely be averaging down on EWSI this week. Those of you that followed me in at higher levels, smack me in the head next time when I don't react to the charts' yelling! While investors have been shouting about the millions in revenues, which is true, the technicals have been saying it just wasn't time yet to enter the stock. GLTA
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