Category Archives: DPDW

DPDW: Deep Down Inc

deep down incI feel Deep Down Inc is looking pretty appealing right now.

There are a few reasons:

Looking at a fibonacci on the chart the price has gone below the 38.2% marker but is now coming back up and hit the 50% marker today. Additionally, during the dip which took this baby past the 38.2% mark volume was average to lite.

DPDW appears to be trading in a bullish channel and bouncing up from the bottom support line of said channel.

MACD is about to have a bullish cross.

RSI is on it’s way up from a bottom.

    I would consider buying this at the current price of $1.36 and riding it up until the touch of the channel’s resistance which appears to be $2.00 or higher but that could change. A semi-tight stop loss could be used on this guy to lock in any potential gains.