Jim Willie, QCOM TA question:
Is it possible that QCOM's chart is forming a Pennant Shape or Ascending Triangle according to this chart.
siliconinvestor.com
From what I read, it's usually a sign of a breakout soon to follow.
Often on the fourth bounce of the rising trend line of lows, many stocks tend to blow out of the water. (Perhaps this is true only with small caps...)
Anyhow, I was wondering what your take is on this.
Perhaps I'm simply looking at the ink blots and interpreting it to be what I want it to be...
Your opinion appreciated.
Also, you wrote in an earlier post about the Dow:
it lost 300 quickly, then recovered 3/8 of the loss
once again, the Fibonacci 3/8 ratio.
if anyone really is in dire need of the Fibonacci formula for the N-th number in the sequence:
0,1,1,2,3,5,8,13,21,...
just let me know, can be arranged
What is this used for?
-Jack A. Wannabee |
