Hi gonzongo, I have been looking at this chart, and wondering who could help me, so I search SI for a TA thread. I hope you could look at this and tell me what you think. I posted it on the thread related. I am not trying to hype the stock, just looking for some TA on, what I think is an interesting formation. If this is not a good thread for this please ignore this post.
URL of chart:
tscn.com,
You have to check this chart and tell me if I am seeing things. And if not what do you think of it?
Look at the two periods: March 1996 to Dec 1997 then to Aug 1997 (just before the big run up to $8.00), then look at the period from mid Feb 1998 to Sept 1998 then to present.
Do you see in both of time periods:
1) The 3 humps in the front 3-4 months,
2) The 3 months slide down to the low point (mid Dec 1997 in the 1st period and late Oct 1998 in the 2nd period)
3) The quick 1 month rise and peak in both periods.
4) The slide down and basing in both periods.
5 The rise to a new high with a small peak
6) Then rise to the high.
It seems both time periods are identical. Currently, UNRG stock is at the #5, the same point as it was in late August 1997? If history repeats itself UNRG is starting on a rise to a new high, which I would surmise will be around $10.
So, look at this chart and tell if I am seeing things. If it is real, just what does it mean? How common is it to have identical periods, one after another? Is this weird or not?
Another key point, is that in several weeks there will be two large conference where UNRG will be a vendor. If you recall the jump up to $8 correlated exactly when UNRG was a vendor at a large petro conference in Oct 1997.
Does history repeat itself? If so, we are in for another ride. I would suggest those that want to get ready to jump. This horse race could be coming to an end for this cat.
Thanks a bunch for any TA inputs on the chart. |
