cup o machinery

Nov 13, 2013

I been looking at this stock since for the past 5 or so days. The OBV was the first I noticed. With prices being steady with little range the OBV posted a higher low. After that the EMA 5 crossed the EMA 20 with the OBV moving up and upward momentum building shown by the RSI. I had trouble finding supply and resistance. Instead what I found was a cup formation. The blue indicates that momentarily prices passed 18.60 with huge volume behind it. Lastly the three flags. I don't know if this means anything but RSI, OBV, CMF all hit the price line with a positive movement. I predict that prices may rise to about 21 to 22 in a week or so, using the cup to get a rough estimate. The retrace R84.6 is high, but so is market volatility. good hunting.