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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (109294)7/24/2000 10:31:06 AM
From: Jenna  Read Replies (1) of 120523
 
Stock # 10 very strong stock. First two 10-minute bars formed a sort of "double top".. after a very small gap up. You could have bought #10 on the first hammer 10 minute bar BEFORE the double top or as the fourth 10-minute bar broke this double top at 126. Essentially because of the 'historical price patterns' of its daily chart and its break of an ascending triangle to the downside because of a weak nasdaq two days last week, nothing inherently weak in the stock ITSELF, we could have entered on the first 10 minute bar ABOVE the morning gap up. This would have entered us into the trade AS the first 10 or 15 minute bar moved above the morning gap open.
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