Bullish MACD Divergences - ANCC

[gitonwithit]

This has had a bullish macd divergence since about Feb on the daily chart, since about Oct 04 on the weekly chart.

On the daily the ADX is looking up as is the money flow on the weekly. Looks to me like the bottom is in.

Searched for ANCC on this site, so if I'm repeating what is stated elsewhere, oops!

[DJF]

Could be a relief bounce - so I wouldn't chase this, but taking a small bite and letting it ride a retest of its recent lows ($1.24) before adding to the position. Look to the 200-day moving average as an upside target.

stockcharts.com/gallery/?ancc

DD as always,
DJF

[gitonwithit]

Well, it got tested today in a big way. Bought some more at 1.20. Sooner or later it's gonna breakout.

[gitonwithit]

So much for that. Stopped out at 1.08.