Sunday, May 21, 2006 7:47:47 PM
Chart Analysis on RBAK:
It had a nice strong up day Friday, even though the Nasdaq was only up 13 points that day...
****************************************************************
That's quite a wide spread on the Bollinger Bands for a 15 minute chart from 22.00 to 23.75...It went up 3 of the last four days as the Nasday had a major meltdown...The impressive thing to note here is the Volume it had Friday, because of the Secondary Public Offering of 8.2MM shares...
****************************************************************
The hourly chart shows 23.50 is the potential upside by the upper BBand, and amazingly 21.75 is the potential downside by the Parabolic SAR, and 21.00 by the lower BBand...I'm not concerned about the gap up it had at the open because it did go back and fill as much as it needed to at 11am...I like the fact that it went above the intraday high set on 5-10-06 and almost closed above that days close as it only missed it by .19...The 10 day chart pattern is an Inverse Head and Shoulders that has already broken out and done what it needed to, which is prove it can set that new intraday high of 23.47 which was .20 higher than the intraday high set on 5-10-06...
****************************************************************
On the daily chart, it looks to be ready to break out up out of one of the longer bull flags I've seen it make (lower lows, lower highs)...This one took 30 sessions to form, which is twice as long as the last 3 bull flags preceeding it...The upper BBand sits at 23.76 so it could move up .75 or so Monday with no resistance...The potential downside is 20.09 by the lower BBand and the Parabolic SAR is just a few cents higher...The most interesting thing I see on this chart is Friday's VOLUME!...
OBV, Accumulation, and Money Flow all upticked sharply Friday...RSI breaking above 50 again is a good sign...Friday's candlestick was a large bodied doji that is more bullish than not...CCI is getting toppy but not turning down yet...ADX is neutral, but the DI's diverged Friday...Stochastics are not Overbought yet with more room to move up before it is...MACD show definite signs of improvement, as the slow line attempts to cross up through the fast line...
****************************************************************
The weekly chart pretty much says it all for me...While the Dow and Nasdaq had a MAJOR MELTDOWN last week, look at what a GREAT week RBAK had!!!...It was a fully encompassing white over red candlestick setup that usually signals another up week this week...It got the highest Volume in the past 11 weeks...Almost every one of the Technical Indicators on this chart are Bullish!
I expect another GOOD week for RBAK...I hope it doesn't surprise me and not have a good week...I AM hoping it will pullback early in the week to give me a better buying opportunity...I took last week off from the Market, and look at what I missed!
GOOD LUCK TO ALL ;^))
It had a nice strong up day Friday, even though the Nasdaq was only up 13 points that day...
****************************************************************
That's quite a wide spread on the Bollinger Bands for a 15 minute chart from 22.00 to 23.75...It went up 3 of the last four days as the Nasday had a major meltdown...The impressive thing to note here is the Volume it had Friday, because of the Secondary Public Offering of 8.2MM shares...
****************************************************************
The hourly chart shows 23.50 is the potential upside by the upper BBand, and amazingly 21.75 is the potential downside by the Parabolic SAR, and 21.00 by the lower BBand...I'm not concerned about the gap up it had at the open because it did go back and fill as much as it needed to at 11am...I like the fact that it went above the intraday high set on 5-10-06 and almost closed above that days close as it only missed it by .19...The 10 day chart pattern is an Inverse Head and Shoulders that has already broken out and done what it needed to, which is prove it can set that new intraday high of 23.47 which was .20 higher than the intraday high set on 5-10-06...
****************************************************************
On the daily chart, it looks to be ready to break out up out of one of the longer bull flags I've seen it make (lower lows, lower highs)...This one took 30 sessions to form, which is twice as long as the last 3 bull flags preceeding it...The upper BBand sits at 23.76 so it could move up .75 or so Monday with no resistance...The potential downside is 20.09 by the lower BBand and the Parabolic SAR is just a few cents higher...The most interesting thing I see on this chart is Friday's VOLUME!...
OBV, Accumulation, and Money Flow all upticked sharply Friday...RSI breaking above 50 again is a good sign...Friday's candlestick was a large bodied doji that is more bullish than not...CCI is getting toppy but not turning down yet...ADX is neutral, but the DI's diverged Friday...Stochastics are not Overbought yet with more room to move up before it is...MACD show definite signs of improvement, as the slow line attempts to cross up through the fast line...
****************************************************************
The weekly chart pretty much says it all for me...While the Dow and Nasdaq had a MAJOR MELTDOWN last week, look at what a GREAT week RBAK had!!!...It was a fully encompassing white over red candlestick setup that usually signals another up week this week...It got the highest Volume in the past 11 weeks...Almost every one of the Technical Indicators on this chart are Bullish!
I expect another GOOD week for RBAK...I hope it doesn't surprise me and not have a good week...I AM hoping it will pullback early in the week to give me a better buying opportunity...I took last week off from the Market, and look at what I missed!
GOOD LUCK TO ALL ;^))
PowerPole >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
