Silverado " The Phoenix Rising from the Ashes"
in response to
by
posted on
Oct 04, 2010 08:47PM
Dalgrub- that is exactly what one would expect to see happen, two steps forward, one step back builds a good soild stair step up the chart.
Please note that the Releative Strength Inidcator RSI at the top of the chart has pulled back from 67 to 58.51, the RSI was getting close to knocking on the threshold/door of 70 the over bought territory but this consolidation has cooled it off to 58.5, making plenty of room for the share price to further advance up the chart before reaching the over bought territoy in the future.
Please note on the daily chart that the next and final major "Golden Cross" has edged .001 closer today to become a reality and by my calculations, this major event could happen as early as this Friday? with both the 50 and 200 MA sharing the same point on the Chart. currently the 50 MA is @ .0046 and the 200 MA is @ .005 there are four days left of trading this week and the 50 MA needs to move .004 so if it stays on course with .001 advancing each day, we could see both MAs converging @ one point this Friday? four days away. Hey, it doesn't have to happen this Friday could happen next week? you get the general idea, its close to happening!! At that point the Silverado Daily Chart will have arrived at the point of being flipped right side up and the company stock will be open for buisness $$ Ka-Ching Ka-Ching $$
Silverado Daily Chart Monday- http://www.freeimagehosting.net/uploads/3f27b6d064.jpg
Please keep in mind that when the small "Golden Cross" occurred with the 20 MA crossed above the 50 MA, it appears that the longs have been in charge of painting the daily chart, if this trend continues, do you think the shorts would have something to be concern about? you betcha !!
BBS