Electronics Boutique Chart

When you look at this chart what do you think?

  • Shes's gonna fly... yeah baby!

    Votes: 2 18.2%
  • The Titanic had a better chance

    Votes: 2 18.2%
  • I'd rather watch paint dry..

    Votes: 4 36.4%
  • What are all those coloured lines?

    Votes: 3 27.3%

  • Total voters
    11

Sharky

Admin
5,599 344
An AIQ chart of Electonics Boutique (EBQ), I've drawn in the trendlines, and theres a few indicators down below. Tell me what you think!

Sharky.
 

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esiotrot

Active member
157 0
Hi Sharky
This morning I voted in your poll - I'm a "Paint Dry"
and I'm not sure whether you are expected feedback.

however during the day I did put some more thought into the chart of EBQ.

1. It is in a reasonably long uptrend
2. Currently in a short down trend following a series of oscillations.
3. volume is low
4.RSI, Stochastics, MACD give no clear signal (also one of my favorites Chande Momentum Oscillator)
5. OBV reflects the long uptrend but no sign of "informed buyers" being in the market ahead of the herd.
6. 10,20 and 150 day MAs are converging
7. Closing in on resistance level.
8. Faint possibility of trendline break.

All this would suggest EBQ is entering a consolidation phase and will stay there until (if) buying pressure breaks through the overhead resistance OR profit taking sends it south.

However the interesting question is raised by the decreasing strength of successive supply trendlines (down) while the demand line (up) has run a long way without apparent weakening.

So, without changing my position from "wait and see", I would listen to opinion which suggests some interesting developments may be in the offing.

This does not represent trading advice DYOR

Peter
 

ChartMan

Legendary member
5,580 46
I concur with that. It needs a little more time to be safe. A volume increase and close above 64 would be encouraging......
 
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