If you are
a subscriber to our free newsletter
service, our March issue describes how
to develop a checklist when evaluating
a stock. This will help take some of
the confusion out of decision making.
Currently
on our MSO watch, we have applied the
checklist since March 06.
March
06 checklist (trend reverse)
March 07 checklist (downtrend)
March 08
checklist (downtrend)
March 09
checklist (downtrend)
March 10
checklist (downtrend)
March 11
checklist (downtrend)
March 14
checklist (downtrend)
March 15
checklist (downtrend)
March 16
checklist (downtrend - possible
correction)
March 17
checklist (downtrend - possible
correction)
March 18
checklist (downtrend - possible
correction)
March 21
checklist (downtrend)
March 22,
checklist (downtrend)
March 23,
checklist, downtrend?
| Stock
Check List - Trending checklist
|
| Stock: MSO |
BUY/SELL Rating: -9 |
Date: March 23, 2005 |
| Indicator |
Confirming |
Negating |
| Trending
Indicators |
| Trendlines |
hit $20 resistance line |
|
| 20, 50, 100 day SMA's |
|
20 and 50 and 100 day SMA
above price line
20 and 50 day SMA cross |
| MACD |
MACD-H convergence
|
MACD downtrending
|
| ADX/DMI |
ADX convergence,
past 25
|
+DI below -DI
ADX below 30 |
| Volume Indicators |
| Volume |
|
Volume downtrending |
| OBV |
|
Down/Sideways |
| PVT |
|
Down/Sideways |
| Patterns |
|
|
| Support/Resistance Breakout |
|
resistance
line broke |
| Candles |
Bullish
candle |
|
| Strength Indicators |
|
|
| RSI |
|
Down/Sideways |
| __________________________________________________________________________ |
| Points: |
3 positive |
12 negative |
It looks
like the ADX will cross the 30 line
soon and is clearly converging with
the price line. This is a strong indication
that the trend will reverse soon. This
is also supported by the MACD-H which
is also converging with the price line.
The price historically had trouble penetrating
the $20 line which may now have formed
a new potential support line. The technical
indicators have not yet confirmed a
trend change but some good signs are
showing. This is still a wait.
The indicators
applied to this checklist can be read
about on our indicators
page.
If you would
like to see another indicator added
to this checklist, let us know.
