RE: Last tradesHello
Can somebody tell me what is so special about this stock ? From a technical perspective I became aware of this stock as one of my top picks due to the following reasons
1) EMA(50) went above the EMA(200) recently which is a long term bullish signal.
2) MACD is looking good.
3) This stock rose on an increase in volume that is unbelievable.
4) The stock is not even close to the highs it made in 2001 and 2006.
This stock has all the makings of a classic Darvas Type stock. There were two other stocks that also made the criteria and that is CQV and SPI, but they seem to be correcting now. I'm glad I did not invest there.
Am I missing something ? From its recent chart the most ominous signal is that if this stock breaks below 0.40 we've made a head and shoulders top. What is also significant is that the stock is about to make a Bollinger squeeze which means a sharp move up or down is coming.
I am optimistic.
What is also intriguing is that this stock is not widely followed like CQV. Also nobody is really euphoric yet which is a good sign.
What makes the stock so special ? I freely admit that I know nothing on gauging a gas stock. I am more familiar with PM's