Good call on IFLO. This has provided me with a good
learning experience. When I first looked at the chart,
I saw a desc, triangle, but people were expecting good
numbers. The TA books say "everything is discounted and
reflected in the market price." The TA books also says
a desc triangle takes 1 to 3 months to complete. The
IFLO triangle lasted about 4 months. Now I'm thinking the
fact that since it stretched out over four months, and
didn't break during the first three, that it may mean it
wont break in a bearish down trend, but something else
is holding the price up. I may not always know all the
facts surrounding a company and what is holding the price
up or down. So, in something like a desc, or ascend,
triangle, is it safe to start thinking something else is
going on, if the formation has exceeded its normal time
frame of completion?
I'm glad to see IFLO do good, but sort of disappointed
because having a chance to get some cheap shares of it,
would have been nice. :) Good luck with IFLO James. |
