CANDLE STICK TREND ANALYSIS
· The Stock had a wonderful RUN Up and currently consolidating in a small triangle/ pennant pattern. . As long as prices are above it I continue to be buliish and give it some more time for consolidation.
· The fact that prices are below 20 and 50 day EMA makes me cautious for taking a LONG position though.
· The MACD histogram is also forming lower high lower lows. But taking other factors into consideration I can consider it as a triangle pattern consolidation and be bullish after it makes it’s a higher positive MACD peak
· POINT AND FIGURE TREND ANALYSIS
· The stock is trading well above it’s BULLISH uptrend line that it formed since march ‘09
· Advanced P &F theory suggests that the stock is almost at the end of it’s 50 week trading band like extremely oversold