Next bounce point coming just over the 200SMA .051
Post# of 56324
Posted On: 08/14/2014 3:06:21 PM
Next bounce point coming just over the 200SMA .0518 -.0521 with movement above the .0589 upper trend likely as BB narrows and the 20SMA crosses above the 50SMA to test .0655 100SMA resistance.
A look at CMF (Daily chart) clearly showing over that strong accumulation has been occurring since May 2014, Watch for buying opportunities .0518 - .0521 lows in the next week to 10 trading days as MMs continue selling off block shares (not new blocks but remains of larger blocks remaining to be sold) along with relatively light day trader action) Absorption rates will escalate on increased buying volume as RSI dips into the 43 range (watch for it because it will indicate lows just prior to heavier buying which will also place lows close to the 200SMA for buying opportunities) We could see breakout movement late August or early September as the MMs start running out of block shares. I have previously estimated 30 to 45 days based on volume to absorb insider shares. I don't know exactly when I posted that but we are now moving towards the periods when theses shares will be fully absorbed and trading pressure will force upper movement on PPS (longs are not selling) and range trading will be to restrictive for day traders.
A look at CMF (Daily chart) clearly showing over that strong accumulation has been occurring since May 2014, Watch for buying opportunities .0518 - .0521 lows in the next week to 10 trading days as MMs continue selling off block shares (not new blocks but remains of larger blocks remaining to be sold) along with relatively light day trader action) Absorption rates will escalate on increased buying volume as RSI dips into the 43 range (watch for it because it will indicate lows just prior to heavier buying which will also place lows close to the 200SMA for buying opportunities) We could see breakout movement late August or early September as the MMs start running out of block shares. I have previously estimated 30 to 45 days based on volume to absorb insider shares. I don't know exactly when I posted that but we are now moving towards the periods when theses shares will be fully absorbed and trading pressure will force upper movement on PPS (longs are not selling) and range trading will be to restrictive for day traders.
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