3.05.12 OREO

ORE – Cup with handle

Volume – I am sure you will notice the volume-price correlation. The volume expands as the price goes up, the volume dries up as the price goes down. This is a good sign. You can use OBV, a chart indicator, to see the accumulation on this stock.

MACD & its histogram – are about to make a bullish crossover. RSI is still below the overbought zone.

Candlestick pattern – A nice reversal pattern followed by a bullish 3 white soldiers; supported by huge volume.

Pattern – C&H from August 2011 (now completing the handle). Flag pattern from Jan2012(now doing the 2nd flag pole)

 

Caveat

 

3 thoughts on “3.05.12 OREO

  1. Pingback: 3.08.12 ORE PNX MER RLC OV « spicysiomai

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s