GAME UPGRADED TO 3 - EXPECT A POP
Price and moving averages:
Shanda Games has closed above its short term moving average.
Short term moving average is currently above mid term, and above long term moving averages.
Mid term moving average is above long term moving average.
The relationship between price and moving averages is: bullish in short term, and bullish in mid-long term.
Bollinger Bands:
Shanda Games has closed below upper band by 42.0%.
Bollinger Bands are 78.8% narrower than normal.
The narrow width of the bands suggests low volatility as compared to Shanda Games's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The bands have been in this narrow range for 76 bars. The probability of a significant price move increases the longer the bands remain in this narrow range.
Current rating is 3
Tech ratings are 3 to -3 indicating bullish to bearish; a zero is neutral to cautionary.
Expect Shanda could see a pop from here as it re-starts its uptrend. The stock has traded in a narrow range right around its short term average and is at an RSI of 56 - this "right in the middle" setup with narrowing Bollinger Bands looks like the right environment for a lift. Additionally our unpublished trend strength has weakened over the past three week. Let's see.
This commentary is not a recommendation to buy or sell. Use at your own risk.
Disclosure: the firm does not currently hold a position in this stock and has no plans to create a long or short position over the next 5 business days.
Shanda Games has closed above its short term moving average.
Short term moving average is currently above mid term, and above long term moving averages.
Mid term moving average is above long term moving average.
The relationship between price and moving averages is: bullish in short term, and bullish in mid-long term.
Bollinger Bands:
Shanda Games has closed below upper band by 42.0%.
Bollinger Bands are 78.8% narrower than normal.
The narrow width of the bands suggests low volatility as compared to Shanda Games's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The bands have been in this narrow range for 76 bars. The probability of a significant price move increases the longer the bands remain in this narrow range.
Current rating is 3
Tech ratings are 3 to -3 indicating bullish to bearish; a zero is neutral to cautionary.
Expect Shanda could see a pop from here as it re-starts its uptrend. The stock has traded in a narrow range right around its short term average and is at an RSI of 56 - this "right in the middle" setup with narrowing Bollinger Bands looks like the right environment for a lift. Additionally our unpublished trend strength has weakened over the past three week. Let's see.
This commentary is not a recommendation to buy or sell. Use at your own risk.
Disclosure: the firm does not currently hold a position in this stock and has no plans to create a long or short position over the next 5 business days.
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