BOT Stock Chart

By Brett Goldstein on Jun 08, 2007

I have covered some good topics on Stock Trading 101 related to technical analysis, and this chart encompasses most of them. BOT has been an interesting stock to watch as the MACD has slowly trended down as the stock has stabilized and made higher lows in the $180s. The last three higher lows were first at $181 in April, then $183 in May, and most recently $186 closer to June. What sends mixed signals right now though are the two distinct distribution days this week. The RSI is basically neutral, so I am not considering BOT has a purchase until it crosses into new highs above $203.38 on strong accumulation volume. If the 50 DMA or the wedge is broken to the downside I would say this setup is bust.

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This entry was posted on Friday, June 8th, 2007 at 10:22 am and is filed under Stock Charts. You can skip to the end and leave a response. Pinging is currently not allowed.

6 Responses to “BOT Stock Chart”

By Chris on June 10th, 2007 at 4:47 pm

Great analysis, but I think this is a great set up. I would ignore the distribution days. What this looks like to me is accumulation. It is bumping resistence and the volume has increased a bit the last two days. I agree if it breaks the trend, it is a bust, but this looks very good to me. Most of the time I reset the MACD when the stock comes down to the 50 day, so I ignore anything before that.

By Blain Reinkensmeyer on June 10th, 2007 at 5:26 pm

ya, agreed, the distribution days don’t mean anything but “caution flags” to me, but still worth taking note of. I never thought of resetting the MACD, that makes sense.

We’ll see what BOT can do this week :P

By Breadmarket on June 12th, 2007 at 4:08 pm

i can see where chris is comng from.

By Chris on June 15th, 2007 at 5:30 pm

The pattern held up although the break out was small on this one, but at least the volume kicked in. I have had a banner week too. I had TNH and FDG. I love this market!

By Zachary Scheidt on June 18th, 2007 at 3:41 pm

I’m a little worried about volume being so low today (6/18) but it probably has more to do with the fact the overall market volume was anemic. ICE and CME continue to battle it out to see who will take over the company and it will be interesting to see who wins

By Sophis on December 1st, 2010 at 5:52 am

really good analysis