OTCPK:NOSOF - Post by User
Post by
zetaon Jun 04, 2008 5:21pm
363 Views
Post# 15146119
TA AND CHART FOR THURSDAY
TA AND CHART FOR THURSDAYHi -- Someone asked for a ta and chart, so, here it is.
After taking a beating for several sessions, NOT finally printed a bullish candle today. The candle today is a strong Bullish Engulfing candle and notice that it wraps around the total black candle from yesterday -- around the high and low - this makes it an especially bullish candle and is a strong buy signal. As well, this engulfing candle is even more bullish because it engulfs the last two black candles - a double engulfing candle pattern - again, very bullish. Confirming this buy signal is the crossover of the stochastic at a low level -- when you find a low stochastic combined with a bullish engulfing candle after a long downtrend, it is usually easy money -- we should see a nice pop from here - to start with, a run to the resistance around 4.25 to 4.50 seems in the cards over the near term. Hope this helps. Here is the daily chart. Zeta