Wedges, triangles, and stuff: Chart patterns for breakouts Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Mike Kehler who wrote (35)	5/29/1997 1:57:00 PM
From: Doug R	of 257

Mike, The system I referred to is an attempt to quantify the strength of the breakout if it should occur. I found that with the scale I use, a score of 48 or higher predicts a move of 40% or more if the stock breaks out. It doesn't predict that a breakout will occur though. I suppose it could be broken down but I gave it such a wide range to eliminate any gray areas. Stocks that have broken out after achieving the score of 48 or more include MVSI, ONPT, SRVC(which came back down after a 60% jump), IFCI, WAXS, EXSO (which also came back down) and a few others. Most are stocks under $5 but WAXS is still going very strong. There were also a couple that didn't break out but that's not a problem since the breakout is the final signal. The problem is the need to follow alot of stocks and updating the TA. Other than that I feel comfortable with it. Most of the stocks had no chart pattern to speak of at the time of the breakout but were at a dismal looking bottom. BIOC is my next one to do the complete TA on. Thanks Rainier for pointing it out. I'll let you know what score it gets. Doug R

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next