WHAT DOES "CFIN" CHART SAY?

lokuayya · 1 WHAT DOES "CFIN" CHART SAY? Sun Jul 17, 2011 5:24 pm

lokuayya

Senior Manager - Equity Analytics

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I am a new in to technical analysis ,still studying technical analysis.Reading some books.
Just looking at the CFIn chart i observed
1)bottle neck bollinger band, "close" price just hitting upper bollinger(15) band,last trading day volume decently above average volume,RSI diverging from the bottom,100day moving average is still on uptrend.
Is this a sign of reversal of downtrend?
I am thankful if experienced technical expert tell me something about this share.
i do not have any CFIn shares but I am considering to buy few shares if this trend is confirmed next monday.

smallville · 2 Re: WHAT DOES "CFIN" CHART SAY? Sun Jul 17, 2011 8:09 pm

smallville

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Last day trading witnessed high volume and this has closed above its Short time moving average too.
There's nothing mush between price and moving averages but another higher high could suggest a reversal..
Bollinger bands are on a narrow scope indicates low volatility..

Further it was clearly vsible the bands have been in this narrow range for last few trading days, about 7-9 days. Hence the longer the bands stay in this narrow range, there's a chance for a price hike..