posted
As I've mentioned in a few other posts, I am still a newbie at this but slowly getting the hang (I think so... I don't think so...I think so...) of looking at charts but I could use some opinions on a stock I'm considering excersizing some options - (JWN). Chart reading is something new to me and while I get what's going with some of the basic indicators I don't feel like I'm there yet with knowing which ones to use with others and when to view with certain time frames (1 mnth, 3 mnth, 5 day, etc). The 1 and 3 month charts are trending up, yesterday Trend Spotter said 100% buy - today 64% buy today, an analyst in an article on yahoo yesterday expects $42-46 within the year, Bear Stearns upgraded on 1/14 from Peer Perform to Outperform but CSFB downgraded from Outperform to Neutral. http://stockcharts.com/def/servlet/SC.web?c=jwn,uu[m,a]daclyyay[da][pb5!b10][vc60][iUp66,5,3!Lg10]&pref=G
One of the things that stood out to me was the RSI dropping below 70 in the past few days but not sure if I should view that as a red flag at this juncture.
I'm trying to make an unemotional decision and would greatly appreciate your unbiased thoughts/opinions if you get the chance... blackout period begins Friday. Earnings in Feb.
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