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BIDZ buy alert update

Mar 25, 2008 investing, trading

Since I called the support level on BIDZ at 7.19, my pick is up 10%.

My technical analysis of BIDZ today:

  • Bollinger bands squeezing.  This usually means a trend change is eminent.
  • Moving averages are converging.  The 5 day, my favorite moving average, is close to crossing above the  10 and 20 day moving averages.
  • MACD looking bullish, the fast line is close to crossing above the slow line.  MACD is still edging toward the zero line, and a cross above would be a bullish signal.
  • Today’s close is still holding the 5 day moving average.
  • Forming a rounded bottom.

BIDZ moves somewhat with the DOW/S&P, and today saw some selloff because of negative news on oil refineries.

BIDZ technical chart

I am not a financial adviser.  Never buy or sell stock based on my recommendations or analysis; do your own due diligence and consult your financial adviser.

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This entry was posted on Tuesday, March 25th, 2008 at 2:59 pm and is filed under investing, trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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