(AVD: 23.84 -3.25%), American Vanguard Corp.
Correct me if I’m wrong, but I’m seeing a falling wedge on this daily chart. Though it’s bad that the stock didn’t do well during the Magnificent Rally. Shall watchhh….
Yep, qualifies.
Click charts to enlarge
Positive volume pattern showing accumulation – higher on up days, lower on down days.
MACD and others are cooperating.
TA is useless on Ultra ETFs? Ok, let’s see how IYR is doing.
IYR yields almost 9%! That’s for the positive.
Now negative: volume pattern is just the opposite of SRS, showing distribution (higher volume on down days, lower volume on up days).
Closed below 20ma which has been a pretty good support level during this rally. But need to see follow-through on that.
Today’s close qualifies for a Bollinger-Band-crash trade, so IYR *should* bounce tomorrow. Doesn’t have to, but should.
(FCX: 31.59 -1.80%)
(MAD: 0.00 N/A)
(PBM: 12.79 0.00%)
(PCU: 0.00 N/A)
(SLT: 7.225 +2.05%)
(TGB: 2.73 -1.44%)
(WIRE: 24.46 -0.61%)
One might think that if one copper stock is breaking out, the other copper stocks should do the same. Doesn’t look like it though.
Strongest according to the lazy charts (ya, these are lazy charts, pardonnez-moi) are:
FCX, with earnings — sorry, losses — only half as bad as GM’s
PBM, cheap cheap, probably the best lottery ticket of all, but I won’t touch it
SLT, looks ok, has potential
TGB, a ‘maybe’
WIRE, nice!
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