Monday, November 26, 2007

Buy signal for TriQuint Semiconductor (TQNT)

TQNT got a buy signal by the system. Looking at the weekly chart, we can see the stock broke a very strong resistance around 5.7 which has been tested and a result became a support.

MACD positioned above it's signal line and CMF shows strong buying power.

BTW, I use Twiggs Money Flow as a replacement for CMF. it has the following advantages over CMF:

  1. To solve the problem with gaps, Twiggs Money Flow uses true range, rather than daily Highs minus Lows.
  2. Rather than a simple-moving-average-type formula, Twiggs Money Flow applies exponential smoothing, using the method employed by Welles Wilder for many of his indicators.


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