Both the parabolic sar and Person's Proprietary Signal moved to bear phase during Tuesday's trading, and macd turned bearish today. All of this amid analyst upgrades and articles about a rally in the Chinese solar sector.
The reversal, which came Tuesday as an 8.3% intraday slide, was accompanied by a volume spike more than double the prior day's. The stock has been trading sideways for about a year, with a level just below $7 as the range high and $4.25 or so as the range low.
Although the stock is trading above the 20-day simple moving average, the surprise-free move at this point would be for a continued oscillation to the downside, followed by a bounce up from below $4.50.
A bounce off of the 20-day moving average would invalidate that analysis.
JASO's earnings are scheduled for release on Aug. 10 before U.S. markets open.
|pps||pps open||upper pivot||lower pivot|
|JASO $6.16||$6.50 jul27||$5.21 -15.4%||$3.65 -40.8%|
On the Person's chart, JASO remains well above the upper pivot.
- $6.92, +12.3%
- $6.51, +5.7%
- $6.16 <== You are here.
- $5.90, -4.2% (20-day ma)
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we reemerge from the wreckage.
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.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
- 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.
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