Here you go Steve -
SKC is still in a downtrend. The red arrows are Sell signals.
Buy signals would be generated by :-
(1) A break of the confirmed trendline.
(2) An uptrend (higher High after a higher Low)
(3) A break of the On Balance Volume trendline.
(4) The Relative Strength Index moving above 50.
(5) A break of the 34 day Simple Moving Average.
(6) The 7% Trailing Short Stop being broken.
While none of these have been triggered yet and SKC made a new low just 4 days ago, the downtrend is starting to run out of steam. The most positive sign is the RSI Bullish Divergence (marked in green). You can see that the RSI has been making higher lows while the price was making lower lows. This is a Class A Bullish divergence.
this thing is still in undecided space....could go either way....im picking upwards...but then I also bought a couple of weeks ago thinking it was the bottom
P. Couldnt you say that before the confirmed trend line you can see 2 humps (call it what you like) that can confirm a different trendline. If you wack a line on those then there would have broken the trendline. Later on of course you are then using around 4.38 as your confirmed trendline.
Bookmarks