It may form a three-weeks-tight, which is one of the indicators that we have at IBD, or it may pull back to a moving average line.
The overall structure shows a long base, a sharp breakout in October, a nice consolidation platform, the 50-day moving average and trend line that held, and this stock is moving up.
For those who like a bit more wiggle room, use the 50 day moving average as the line in the sand.
The stock was trading above a rising 50 day moving average (red line) and consolidating nicely underneath a descending downtrend from a few months back.
The RS dropped back below its weighted moving average in March (line 1) and then dropped below support at line c.
The security is currently perched on support at its rising 10-week moving average, a trend line the stock has not closed a week below since early April.
The OBV is back above its weighted moving average and is very close to moving above resistance at line g.
The OBV did confirm the May high but then broke both its weighted moving average and its uptrend (line b) in July.
The technical picture looks great, with the the stock currently trading above its 50-day moving average and using that trend line as support on pullbacks twice on the gargantuan run over the past year.
In the bottom chart below, the red line shows the difference between the two moving averages, while the dotted red line is the 9-period moving average.
Then in March 1985, the OBV moved above its weighted moving average and broke its downtrend, line c.
The MACD is calculated by simply subtracting a 26-period exponential moving average (EMA) of the closing prices from a 12-period EMA. The signal line is a nine-period exponential moving average of the MACD.
The OBV has dropped below its weighted moving average and is testing its uptrend, line e.
The next week, the OBV dropped below its weighted moving average and corn subsequently broke support at line h.
Weekly OBV is just slightly below its weighted moving average and holding well above its uptrend, line c.
The weekly OBV has dropped below its weighted moving average but is still well above support at line e.
The macro line in sand is the 50day moving average at 1205ish, so give it the zone 1190-1205.
The weekly RS line moved sharply above its weighted moving average in April and is acting very strong.
The daily on-balance volume (OBV) has closed below its weighted moving average (WMA) with next good support at line c.
The daily on-balance volume (OBV) closed Friday above its weighted moving average (WMA) after holding good support at line c.
The weekly on-balance volume (OBV) is now slightly above its downtrend, line d, and its weighted moving average (WMA).
Weekly on-balance volume (OBV) has just moved above its declining weighted moving average (WMA) and has initial support at line d.
The RS dropped below its weighted moving average last week and has now broken its uptrend, line b.
The daily OBV also broke out in April, and while it has dropped below its weighted moving average (WMA), it has good support at line d.
The on-balance volume (OBV) has turned up from its weighted moving average (WMA) and looks ready to overcome resistance at line b.
The RS tested its declining weighted moving average (WMA) last March and then broke support (line b) in early April, line 1.
The OBV then moved above its weighted moving average (WMA) the week before the low was formed (line e).
Daily OBV looks a bit better, as it has formed higher lows, line f, but is still below its weighted moving average.
Weekly on-balance volume (OBV) also did not make new highs in July, line e, but is holding above its weighted moving average (WMA).
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