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Thread: BMD oversold and ready to bounce

  1. Default BMD oversold and ready to bounce

    Resistance and support are essentially determined by supply and demand.

    Think of resistance as a ceiling that every time the stock rises to that point it falls back down to hit the support ( which is the floor )

    When shares are being bought up the stock rises, resistance is usually determined by the top dollar people are paying at that time for the stock. If you draw a line across the highest points on a graph you will form a line, this line shows you the level of resistance.

  2. Default

    Running well so far lets see how far the baby can go...Guru you holding all of it till $3.75 or planning on taking some of the table at some point?

  3. Default

    here's to breaking that $3.40 mark! finally got pass the sellers at $3.20

    btw, how do people protect their profits? stops? trailing stops? by percentage or points?

    I have had some bad losses since I had mental stops, but now will be inputting the stops with each purchase. I have BMD at a 6% trailing stop? is that too large of a stop?

  4. Default

    Is that a shooting star that OWENQ formed today?
    Does the RSI look toppy?
    I'm not holding a position, just wondering if longs should sell NOW! GL

  5. Default

    I don't know what everbody calls it, but I call it the upside down hammer. I know some just call it the no leg up day or something like that.

    Either way, that can end up forming a bearish engulfing pattern or a dark cloud cover.

    Or it could simply go back up.

    I doubt it though...seems to be losing strength now.

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