Stock Trading Predictions & Technical Analysis: IRE - Imminent BUY SIGNAL or SELL SIGNAL

Friday, November 20, 2009

IRE - Imminent BUY SIGNAL or SELL SIGNAL

IRE - WAIT

Ever since hitting a top at $13.00, IRE broke its up trending channel and has now been trading in a down trending channel line. IRE is now standing at a relatively strong support level at around $10.00, while also being just under the top channel line. Therefore, IRE could now give us an imminent BUY SIGNAL or SELL SIGNAL. To get A BUY SIGNAL, IRE needs to bounce back up strongly over $10.00 and therefore at the same time break up over its down trending channel. A sharp move below $10.00, would give us a SELL SIGNAL at which time IRE's next strong support level would be at $9.00 where the 200 day MA stands. A move below the 200 day MA would give us a STRONG SELL SIGNAL.

4 comments:

DBNovember 21, 2009 at 7:56 AM
Thank you sir!
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DBNovember 22, 2009 at 1:37 PM
This comment has been removed by the author.
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DBNovember 22, 2009 at 1:42 PM
Yoel,

Imminent Buy or Sell signal with IRE, does that present an oppurtunity to invest, with 10 as the support level, 9.00 as the next support level on the downside and some upside remaining - probly resistance at 13?

thanks in advance for your valueable feedback.
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YoelNovember 22, 2009 at 2:55 PM
That's somewhat correct. But when I say imminent BUY SIGNAL or SELL SIGNAL, it means that the moment the stock price swings one way or the other we will know how to react. If the price bounces back up from $10.00 this will be a BUY SIGNAL with $10.00 being the support level. If the price breaks down below $10.00 that would be a SELL SIGNAL where you could expect to see the stock price fall as low as $9.00 where its next support level stands. But this doesn't mean it can't go lower than $9.00. That's why IRE is a WAIT; you have to WAIT for the signal and react then, rather than try to anticipate a move. So, if IRE were to jump to $10.50 tomorrow then I would take a long pposition. If IRE falls below $10.00 you wouldn't want to take a long position then. If you buy right now at $10.00 you are taking a gamble as there is as much chance of seeing IRE bounce back up or break down.
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TECHNICAL INDICATORS

BUY SIGNAL: Indicates the possibility of the start of a new up trend or the continuation of the current up trend. This signal may be often given in the early stages of a potential new up trend that was preceded by a down or sideways trend. Such signals do not always succeed and may fail at time.

BUY: Indicates that the current up trend is already in motion and a BUY SIGNAL was already given earlier. A BUY does not necessarily indicate that the stock will continue higher from here, but simply that the stock is trending up. The further into the trend you decide to take a long position, the more risk you have of seeing it reverse back down sooner rather than later.

STRONG BUY SIGNAL: Indicates a stronger, more significant and reliable signal than a BUY SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG BUY: Indicates that the current up trend is already in motion and that STRONG BUY SIGNAL was already given.

SELL SIGNAL: Indicates the possibility of the start of a new down trend or the continuation of the current down trend. This signal may be often given in the early stages of a potential new down trend that was preceded by an up or sideways trend. Such signals do not always succeed and may fail at time.

SELL: Indicates that the current down trend is already in motion and a SELL SIGNAL was already given earlier. A SELL does not necessarily indicate that the stock will continue lower from here, but simply that the stock is trending down. The further into the trend you decide to sell a position, the more risk you have of seeing it reverse back up.

STRONG SELL SIGNAL: Indicates a stronger, more significant and reliable signal than a SELL SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG SELL: Indicates that the current down trend is already in motion and that STRONG SELL SIGNAL was already given.

HOLD: Indicates that traders who already hold this stock, should hold on as long as the trend persists. This signal is usually given during an up trend for which it would be considered too risky to take a long position at this point.

STRONG HOLD: Indicates that the current trend has been in motion for a while and rarely deviated away from the trend. Although the stock may continue higher, there may not be enough potential up side to trigger a BUY SIGNAL. This type of indicator usually means that the stock has very strong support levels which may have been tested but not broken.

WAIT: Usually given during a sideways trend for which we are waiting for a move that would trigger a BUY SIGNAL or SELL SIGNAL. This could also indicate uncertainty and the risk that would be taken if you were to take a long position at the current level. Taking a long position after giving a WAIT indicator is considered a gamble.