| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| ABT $47.66 |
My write-up at the time showed more than 8% downside potential, and so it has proven to be.
The signals are all still on the bear side. The price action, however, suggest that the decline may have come to an end. Friday the price traversed 3.8% in an intra-day rise. And today, opening just above Friday's close, the price has traversed an additional 2.5% intra-day.
ABT is one of the stocks that showed a sharp decline during the May 6 flash panic (which I have called the Skynet Panic, because the machines are clearly in charge). As a result, the psar is fairly suspect, since it uses intra-day lows in its calculation.
However, the macd and stochastic are also moving in a bullish direction. Person's Proprietary Signal remains in bear phase.
All in all, if I held this stock, I'd be locking in profits now on at least part of my position.
At $47.66, the current price, the position shows a 5% profit, and that's not too shabby for a few weeks work.
Disclaimer
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
Abbreviations:
- psar - Parabolic Stop and Reverse
- adx - Average Directional Index
- pps - Person's Proprietary Signal
- ma20 - 20-day moving average
- macd - Moving Average Convergence-Divergence
- sto - Fast Stochastic
About the glance: The colors indicate the state of each signal.
- trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
- adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
- psar, pps, macd: green for bull mode, red for bear
- sto: green for overbought, red for oversold, yellow for the neutral zone.
New to private trading? Here's a look at How to Become a Private Trader.
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