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North American Gem Inc V.NAG



TSXV:NAG - Post by User

Bullboard Posts
Post by zetaon May 14, 2008 6:16pm
347 Views
Post# 15074516

TA AND CHART FOR THURSDAY

TA AND CHART FOR THURSDAYHi -- Lucci asked for a Ta and chart, so, here it is. The candle today was a shooting star candle and this is a bearish sign. The long shadow on the candle over head shows that there were a lot of sellers around that drove the stock right back down. This is a bearish reversal candle and I would be expecting more downside tomorrow. Also, the stochastic crossed down at the upper end of the chart -- again, a bearish sign. So -- looks bearish to me and it will likely take some correction before the stock cleans up again. You could wait for confirmation of this sell signal tomorrow -- confirmation would be a black candle tomorrow with a lower low. If I held the stock, I would sell on the opening and move on - let the stock pullback and clean up and decide what to do at that point. Hope this helps. Zeta. Here is the daily chart.
Bullboard Posts