Friday, May 12, 2006

XSNX

Left: Intraday Chart Right: Daily Chart

XSNX tanked with the market yesterday. As the stock dropped below $1.00, it was about to test SMA200. As it reversed after 10:00am ET, I bought more XSNX at $0.99 (thus lowering my average cost). As it turned out, the stock reversed convincingly and closed at $1.33 with an large volume. It formed a bullish engulfing candle yesterday. The stcchastics and RSI also showed a reversal (upwards). I would pick up more above yesterday's high and release them once I achieved a reasonable return.

- PersianCat04 (Millionaire-in-progress)

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