GREY:JNRRF - Post by User
Comment by
st0ckpickeron Oct 08, 2004 10:36pm
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Post# 8030294
RE: shake the tree
RE: shake the treeTake one look at the hourly chart posted and you will see the "clearly defined down channel" shattered at $1.03 today and then left in the dust at the close. My chart doesn't have the bottom channel line but it isn't necessary in this case. There is no saying that we can't enter a new downtrend but that one by definition is done as of today. Take a look at MACD, ROC, RSI, and Stochastic if you want to get a feel for the probability of a new downtrend. Not impossible but not likely.