Big Volume Buying Going Into Close

T

TOMMYJR9

(LOCM) it will run going into EPS date on 11/04/10 LOOK AT THE DAY CHART !!!! & this is why ,Hello guys , I have been looking at the Day charts of this stock (LOCM) it had a nice break out now it looks like it just finished it's pullback , it is sitting on MAJOR support at $ 4.40 on the 50 ma ,assending triangle ,several bottoms at the 4.40 mark ,stochastic at bottom, linner trendline looks good, volume flow indacator looks good, bull pwr and bear pwr looks good also, etc etc. I don't understand the last 4-5 days of candle pattern's RISEING THREE METHODS ? ? Could you teach me what you see? It looks to me it's ready to break out ?Shorts can not keep it down !
 
Support is $3.78
Resistance is $4.86

I don't do much with penny stocks. I'll not give an opinion either way, but if it were me, I'd sell it at $4.00 if the trade went against me. It is undervalued, but do TRADERS perceive it as being cheap? That's the question.

Best of luck
 
I would be concerned about its earnings though. There is so much competition in this area and remember the 800 lbs gorillas in the game are already targeting local advertising too. Digital sign advertising is really hitting big in my area too, so that must be taking some pieces of the market pie too.

Volume today was below average, yet it had decent buying in the last three minutes. However if you look at it technically it is not very strong, I would be weary of jumping board on this one.

This is just my opinion and I do realize that I am new to technical analysis, but this is what I see.

Good luck with it though.
 
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