31st Aug 2011–Pattern Study - The HEAT is on….. It's on the Wall Street !

Ticker:

 

1. HEAT

 

Topic:

 

1. The deepest valley of the grand canyon.

 

Lesson Learnt:

 

1. Intraday shows multiple bottom, bullish cross of 20MA and 50MA lines with price stick on the 20MA line.
2. Daily MACD start to show positive divergence.
3. Daily 20MA line tried to do a bullish cross with 50MA line but failed at the start of August month.
4. We could be looking at the bottom of this stock now.

 

Intraday Chart

Historical Chart