Any comments on TIE chart?

[DSteckler]

There should be some support at the 50DMA, currently around 30.50 and rising.

[mystiky]

TIE update?

Wondering if the folks here any updates to the TIE chart...

Thanks as always.

[New-born baby]

My opinion

Wondering if the folks here any updates to the TIE chart...

Thanks as always.

My opinion is that the party is over for awhile. The weekly has been so bullish and so overbought--now the reality is going to set in (imho). The daily shows me what I think will happen: TIE will retest the $30.52 support probably twice more. The first time it will hold; and the second time it will fail. When that happens, TIE looks like it will return to a sub $20 stock.

Sure, I am prognosticating. Until the $30.52 line busts, it is still officially bullish. But action today--a nice $2.74 pullback on a $32 stock--that is a big percentage fall. People are hitting the exits for now.

If you want my bullish call on it, it must break the resistance at that doji ($38.20) on the chart. I would not buy before then.

[mystiky]

more on TIE...

I have been studying your reply... today it seems that TIE is up on an "upgrade", so the question is this. If it closes above 38.20, then it's a long?

Thanks, as always!

My opinion is that the party is over for awhile. The weekly has been so bullish and so overbought--now the reality is going to set in (imho). The daily shows me what I think will happen: TIE will retest the $30.52 support probably twice more. The first time it will hold; and the second time it will fail. When that happens, TIE looks like it will return to a sub $20 stock.

Sure, I am prognosticating. Until the $30.52 line busts, it is still officially bullish. But action today--a nice $2.74 pullback on a $32 stock--that is a big percentage fall. People are hitting the exits for now.

If you want my bullish call on it, it must break the resistance at that doji ($38.20) on the chart. I would not buy before then.

[Runner]

FWIW my short-term system {daily} has flagged a buy on TIE on Thursday @ 36.60. Here is what I’ve noticed over the last week. This stock puts in a low (registration point) and tests this point over the next 3 days. Registration point held as support. It then had a nice fake out on 5/24/06. This was the first higher low. It then sets up as a pull back buy on 6/01/06. This trigger has rewarded those who caught the trigger off the 3-day pullback. Since trigger line this stock has gained about 10% . Stock has also put in its 3rd higher low. I’m short-term bull back down to lows on 5/31/06. I would have most likely sold near the close today or put stop under low of day. Those of you holding good luck.

[Runner]

There should be some support at the 50DMA, currently around 30.50 and rising.

Dave, where can I read where stocks get supported off a 50 day moving average. Or any moving average? I always here about the 50 or 200 but yet it has little relevance IMO..