$TECO MACD cross signals rally soon Earlier toda

$TECO MACD cross signals rally soon

Earlier today the bears tried to take out 3 cent support by dumping about 800,000 shares into bid very quickly. Very few penny stocks can withstand concentrated selling like that. However, based on what I am seeing in the tape from a couple of buyers coming in from CDEL and UBSS I did not see 3 cents breaking and that we should see mid 3's by the end of the day. 

http://tinyurl.com/8g2dz66

In the final minutes there was a hell of a lot of gaming the price, with the bears dumping 295,000 into .0295, which I personally think was just MM's trading back and forth to each other because it skipped all the bids in the low 3's. At the end of the day, and that's all that matters, the bears were unable to stop the bulls.


The importance of this is that TECO got a very deep bullish MACD cross today. I posted a study that showed that 6 out of the last 6 rallies in TECO were preceded by MACD crosses.

http://tinyurl.com/8zzkvbr

There's no such thing as a magic indicator but when you stack them in your favor and use them together you improve your chances.

For TECO:
1. Massive support at 3 cents
2. Last time it closed below 4 cents on a monthly basis, which was the first time since April 2011, it rallied to 7 cents.
3. Appearance of big buyers accumulating shares
4. Biggest volume today since late July and it appears at a low
5. 3 days in a row it has tried to move through the 20 DMA
6. MACD cross today

Fundamentally: multiple news catalysts, 10 Q, E/W Texas, Belize are due soon.

This doesn't mean the stock will skyrocket off tomorrow's opening bell, but it is an indication that the lows are likely in and we are about to start moving back up. What we are looking for next is a CLOSE above the 20 DMA which have touched off rallies, big and small, 6 out of 6 times as well going back to October of last year.

Don't sleep on the bears, they will definitely fight this tooth and nail, but their desparation showing in the tape betrays their weakness.

[THE CHART below is a daily chart MACD for TECO. I marked the last cross an today's cross.]

[IMG]http://i.imgur.com/UYist.png[/IMG]