Today we'll analyze the Stock emkr for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 9.10$ (03/10/08) to 9.98$ (03/11/08) a 0.88$ move
2- The current bearish trend started from 9.98$ at 03/11/08 and is currently trading at 6.65$.
3- The Stock was resisted by a resistance line, identified by two points: 9.98 and 10.98, and is currently resisting at 8.48.
4- According to ADX, the trend is currently strong bearish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Conclusion:
emkr is currently trading a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 7.44, 7.92, 8.31, 8.48, 8.71, 9.98, 10.98.
Support Levels: .
We Moved!!
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Shadi
Thursday, March 20, 2008
EMCORE Corporation (EMKR) Technical Analysis
That's all for today ... thanks for reading the post,
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have a nice day,
Shadi
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1 comment:
Don't you take any notice of what the company is actually doing ? Does it matter that they raised $100 million to buy up an Intel telecom asset worth $85 million, but after their share price slumped they had to go back and raise another $6 million.
This suggests to me they are within 2% of their market cap. of going bust.
I can't see what value your kind of analysis can have in a market climate like this.
Dave
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