Tonight we are focusing on Takedown Entertainment, Inc. (OTCBB:TKDN) and are most intrigued by the technical indicators of the company's current stock chart.
Technically speaking, the TKDN chart looks like a perfect bottom storm could be brewing. The chart has made a few dips, but a bottom support at 2 cents is established and would represent a strong stop-loss point. Additionally, there was a resistance point at $0.022 which the price per share (pps) pushed through today on a mild increase over Monday’s volume. In classic technical analysis fashion, that former resistance point should now serve as support.
The short-term moving averages (5, 10, and 20) have now curled under the pps and are moving on an upward path, lending support in a dynamic manner. There is a bit of secondary resistance around 3 cents and some more as the pps approaches 4 cents (along with the 50 dma), but static resistance doesn’t stiffen until a more than 100 percent move happens to 6 cents; leaving a lot of upside to the chart.
Heavily-used indicators such as the Moving Average Convergence/Divergence (MACD), which is a measure of strength of trend, and the Relative Strength Index (RSI), a gauge of momentum, are uptrending and moving into bullish positions. The MACD dropped a bullish cross three weeks ago and has been making a steady climb back towards zero. While the increase in value is bullish, technical traders will have their eyes peeled for the MACD to break the zero mark, commonly called “the money line,” as a signal that the chart has found a bottom and is shifting into a firm uptrend.
Three different measures of the RSI, the RSI(7), RSI(14) and RSI(21) help give a perspective of the momentum of the chart over different time frames with all three moving into bull mode. The RSI(7) has already broken through 50, the RSI(21) is registering 49.17 and the RSI(21) is cracking upward, registering a 45.04. A break of 50 is an indication of strong momentum in the chart, but leaves plenty of headroom to until the chart can break into overbought levels.
All and all, the support is there, the upside is large to resistance and the indicators are giving signs that TKDN has found a bottom with its 52-week lows being touched six trading days ago.
Begin your research tonight on TKDN by reviewing their website at www.TakedownEntertainment.com, current news releases and their recent filings with the SEC.
As always, trade with intelligence and use Stop Loss Orders to protect yourself and never let greed get the best of you. Book your profits when you have them!
Disclaimer: This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. MyBestStockAlerts.com is a wholly-owned subsidiary of MyBestStockAlerts, LLC. We have been compensated two thousand dollars from a non-controlling third party for TKDN advertising and promotion. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this newsletter as the basis for any investment decision. MyBestStockAlerts, LLC and its affiliates currently hold no shares in the profiled company. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.