Can anyone guess why Gigamedia price keeps heading south - inn a freefall now?
Thought it would turn around after closing below bollinger last week but no such luck.
Answers
511 points
songcon answered 2 weeks ago …
In June, the reversion initiated on the 4th day after the candle closed below the Bollinger Bands, today was the 5th and there was a no show on the reversion, share went down 3% on an above average volume.
GIGM seems to go in sync with Stochastic, and Stochastic is in a very positive position. In June, when the prices started turning around the MACD line and the moving average line had the same space that shows on the chart as of today. If things d not change tomorrow, need to get rid of at least 1/2 of the holding in the afternoon tomorrow, if I were you.
[IMG]http://i33.tinypic.com/20par8n.gif[/IMG]
Things look much worse with the daily and weekly charts at Stockcharts.com:
http://stockcharts.com/charts/gallery.html?gigm
511 points
songcon answered 2 weeks ago …
With an additional loss of 8.29% on prives, GIGM had a perfect double-bottom on the weekly-chart today
http://stockcharts.com/h-sc/ui
[IMG]http://i38.tinypic.com/muhamo.png
511 points
songcon answered 2 weeks ago …
This is example of another double bottom chart:
[IMG]http://i965.photobucket.com/albums/ae138/song_con/ISPH6mo.png[/IMG]
511 points
songcon answered 2 weeks ago …
This is the chart:
[IMG]http://i965.photobucket.com/albums/ae138/song_con/ISPH6mo.png[/IMG]
