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Strategies & Market Trends : Dino's Bar & Grill

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To: mike n. who wrote (4640)	1/24/2014 4:23:07 PM
From: Andrew~	of 202904

I just keep an eye on the chart and time my entry to minimise risk. I'm expecting LK-V to have another run. Notice that the top of the scallop was also where the share price had got too far away/above the 50 dma as well as being overbought and RSI peaked. I was looking at CCB-V today and if you look at the daily you'll see a narrow ascending scallop from 21st August to 6th September. The hook then formed on declining volume over three days and then a confirmed breakout above the top of the scallop on high volume. It closed at a high on 26th September but note what happened afterwards! The share price was 100% higher than the 50 dma also MACD, RSI and directional movement +DI/-DI were useful indicators of when to exit on this example. Enjoy the weekend :)

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