Chart talk, anyone? I haven't studied NTEK's chart
Post# of 96892
Posted On: 02/29/2016 12:50:54 PM
Chart talk, anyone? I haven't studied NTEK's charts closely in quite awhile because, frankly, they've looked bad for more than a year. However, there are some interesting things to look at now.
First, the daily MACD crossed the signal line about a week ago and has stayed above it since.
The daily PSAR flipped around that time as well. (Thanks Goober for pointing this out.)
Daily accumulation has been trending UP for about 3 weeks now. It's worth mentioning that NTEK hasn't been diluting shares over the past month, so I'm sure this has something to do with the upswing.
We haven't hit 10 million in volume in 9 trading days. This is pretty important. It suggests people (and also the company) aren't as eager to sell. If people want to buy, more of them will have to start hitting the ask—obviously a good thing.
Also, the RSI at 43 has plenty of room to go higher.
Keep in mind, these are very early short-term indicators. I wouldn't get too excited, just yet, because other indicators haven't confirmed a buy signal. For example, the ADX signal is neutral, but it could—and likely will—change very quickly. And, while the 5-day moving average is trending up (which is something it hasn't done since the end of last year), it hasn't yet crossed the 20-day moving average, which is a buy signal.
Anyway, I figured I'd bring these things up because dilution appears to have stopped for awhile.
I'd welcome thoughts from other chartists.
First, the daily MACD crossed the signal line about a week ago and has stayed above it since.
The daily PSAR flipped around that time as well. (Thanks Goober for pointing this out.)
Daily accumulation has been trending UP for about 3 weeks now. It's worth mentioning that NTEK hasn't been diluting shares over the past month, so I'm sure this has something to do with the upswing.
We haven't hit 10 million in volume in 9 trading days. This is pretty important. It suggests people (and also the company) aren't as eager to sell. If people want to buy, more of them will have to start hitting the ask—obviously a good thing.
Also, the RSI at 43 has plenty of room to go higher.
Keep in mind, these are very early short-term indicators. I wouldn't get too excited, just yet, because other indicators haven't confirmed a buy signal. For example, the ADX signal is neutral, but it could—and likely will—change very quickly. And, while the 5-day moving average is trending up (which is something it hasn't done since the end of last year), it hasn't yet crossed the 20-day moving average, which is a buy signal.
Anyway, I figured I'd bring these things up because dilution appears to have stopped for awhile.
I'd welcome thoughts from other chartists.
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