the good news is... (timmo69) Trade LYC with
I sought some sense in the charts after todays actions and tried to
take a step back and yep, it aint so bad really.
The first thing is that it did recover to a reasonable price given
the lows tested today.
The other thing is that I noticed the %R actually rose today coming
up out of the oversold zone.
Hmmn. Thats interesting.
Next the Slow STochatistic will form a divergen double bottom
tomorrow as it follows the %R. This indicated trend reversal.
The SSToch also has higher lows in this divergent pattern.
OK. The RSI did not trip into the oversold territory which you
would kind of expect.
So tomorrow will be good. The next few days very good maybe.
If the indicators are right then the trend could be reversing from
here and what we saw today was a selling climax.
I know that today was a shock and some lost $$.
But the good news IMO is that it will get better from here.
I am just glad that I took the view that the stock was too volatile
to set a stop loss on, so they didn't get one single share from
My view is that it is going up from here and we should see about a
buck by the end of the week.