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Today's Focused Penny Stocks Alert Include:
July 9th 2009: BAC, C, WFC, GE
GE: MA 30 days down trend greater than 4 days (30 Days MA break out) This is a negative signal. If the price bars are below the moving average it could become resistance and stocks tend to bounce off of it and continue going down.
MA 30 days flat trend at least 4 days (30 Days MA break out) This is a wait signal. A flat trend can indicate that the stock in preparing for a correction and it could begin to go down.
Wednesday's volume is greater than 150% of the average volume of previous 10 days. (Volume) Provides additional strength to our three green arrows. It is not necessary to have this in an up trending stock in an up trending market. It is critical to have this in a down trending market as we have more risk in that type of market. Remember that there are two types of volume, selling volume and buying volume. We can tell the difference by looking to see which way the price moved the day we had the large volume. If the price moved up we had buying volume, which is what we want, and if the price went down we had selling volume. Selling volume will have the opposite affect on our stock price pattern and could actually warn of a new down trend.
C: MA 30 days down trend greater than 4 days (30 Days MA break out) This is a negative signal. If the price bars are below the moving average it could become resistance and stocks tend to bounce off of it and continue going down.
Wednesday's volume is greater than 150% of the average volume of previous 10 days. (Volume) Provides additional strength to our three green arrows. It is not necessary to have this in an up trending stock in an up trending market. It is critical to have this in a down trending market as we have more risk in that type of market. Remember that there are two types of volume, selling volume and buying volume. We can tell the difference by looking to see which way the price moved the day we had the large volume. If the price moved up we had buying volume, which is what we want, and if the price went down we had selling volume. Selling volume will have the opposite affect on our stock price pattern and could actually warn of a new down trend.
WFC: MA 30 days down trend greater than 4 days (30 Days MA break out) This is a negative signal. If the price bars are below the moving average it could become resistance and stocks tend to bounce off of it and continue going down.
MA 30 days flat trend at least 4 days (30 Days MA break out) This is a wait signal. A flat trend can indicate that the stock in preparing for a correction and it could begin to go down.
Wednesday's volume is greater than the average volume of previous 10 days, but less than 150% of it. (Volume) On its own this kind of volume is not a strong positive signal but does lend some strength to the other positive signals we may be seeing. In a down trending market we need higher than average volume of at least 150% to be positive.
BAC: MA 30 days up trend less than a month (30 Days MA break out) When combined with the other indicators this provides a positive signal. We want to always trade with the trend. The shorter the time period that the trend had been going up the more risky our potential trade is.
MA 30 days flat trend at least 4 days (30 Days MA break out) This is a wait signal. A flat trend can indicate that the stock in preparing for a correction and it could begin to go down.
MACD downward crossed zero-line 3 days ago and still down (MACD 8-17-9) This is a strong negative signal when combined with a red or phantom red arrow on the stochastics. A down trending MACD indicates serious weakness in the demand for the stock. Some investors will ignore this negative signal if the stock is still above the moving average and the moving average is still up trending. This is called a lake play and should only be applied in a bullish or up trending market.
Stochastics Value downward crossed 75 more than 2 days ago, now still in down trend (Stochastics 14-5 breakout) Strong negative signal when combined with a red arrow on the MACD. Indicates reduced demand for the stock and could precede a flat or down trend in the price pattern.
Wednesday's volume is greater than 150% of the average volume of previous 10 days. (Volume) Provides additional strength to our three green arrows. It is not necessary to have this in an up trending stock in an up trending market. It is critical to have this in a down trending market as we have more risk in that type of market. Remember that there are two types of volume, selling volume and buying volume. We can tell the difference by looking to see which way the price moved the day we had the large volume. If the price moved up we had buying volume, which is what we want, and if the price went down we had selling volume. Selling volume will have the opposite affect on our stock price pattern and could actually warn of a new down trend.
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