Thursday, April 9, 2009

The Technicals

Hard news has not been good coming out of the biofuels arena. Ditto that in biodiesel . Of course the technicals live in another world. Apparently, our technical bot assigned to track GreenShift likes the way the chart is setting up. It is now listed as a buy. The first resistance is about 4 times the current price. Take a look and make up your own mind.

Bollinger Bands
Bollinger Bands has closed above bottom band by 47.6%; Bollinger Bands are 86.2% narrower than normal.The narrow width of the bands suggests low volatility as compared to GERS.OB's normal range. The bands have been in this narrow range for 40 bars. This is often a sign that a market may be about to initiate a new trend.


Resistances
Resistance1: 0.0184 Resistance2: 0.0280

http://www.allotcbb.com/quote.php?symbol=GERS.OB

Good Luck,
SkunK

PS It is almost 1ET and we are way down on vol. If we stay below 500,000 for the day, my hunch is we see the annual today or friday. I expect the volume may dry up the day of, or the day before the release.

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