Author: Rick Pendergraft, Trades Of The Day

The underlying fund’s stochastic indicators are near oversold, but just reversed and made a bullish crossover. The last few times this happened turned out to be pretty good bullish signals.

The trend reversal patterns are set up for it to move lower for the next few weeks.

The underlying stock’s daily stochastic indicators are in oversold territory and made a bullish crossover on Friday. The last few instances where this has happened have been pretty solid bullish signals.

At the lower rail of a seven month trend channel, the underlying stock is oversold and made a bullish crossover last night. The last three times this happened, the stock rallied sharply.

With a very concerning weekly chart, the stock came close to hitting the upper end of the trend line early in the day yesterday before dropping sharply.