TA: Know Sure Thing (KST)Bottom fishers (BF) like me need to look at fundamentals (for the longer term) and technial indicators (short term). TA avoids getting too much blood on our hands while we catch the knifes for mid-long term profits.
The Technical Indicators are near 100% SELL - good for BFs
The timing on BTE is the worsts - again, great for a BFs (picking timing is a key driver for me)
Now, there's a little signal light that just went off Friday 25th, that's the KST indicator short term bearish.
KST is often a turn point indicator on these stocks. Normally, it simply tells you the trend is short term bearings which often is true. BUT, on an oversold, dog, shorted, stock like BTE, that also indicates that the KST is moving below the moving average. It's a "last drop in bucket" indicator for me on these.
I've seen it many times. When KST shows up here, yes, short term, you might see downward pressure (next week or two) but after that, the oversold condition becomes critical and shorts see that and cover turning the TA indicators from near 100% SELL greener.
Again, don't expect rout/level/consolidation with BTE. Look at the charts. This has always been a stock with sharp turnarounds. There is nothing to indicate that the turn around this time will be different. On the contrary this $41 stock 12 months ago selling at $4.22 is too oversold. Everyone hates BTE right now (except true BFs like me).
Let's see if this short term KST bearing signal at play next week... I advocate holding right now...
Don't get your hands bloody but if you are looking for the perfect entry point, don't take your eyes off this stock (unless you are long, and if you are, just ignore BTE for a month).