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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: CommanderCricket who wrote (8826)4/11/2002 5:21:05 PM
From: chowder  Read Replies (1) of 206175
 
CC, a week ago I mentioned over on HTP that I expected HC would trade down to its 10 day moving average where it would lend some support.

Message 17287658

So far it has worked according to plan.

After consulting with my pet monkey Sivle, here's what we came up with.

HC has additional support in the 18.50 range represented by those price volume bars on the left hand side of the chart.

The daily volume is very low. The price isn't fluctuating very much. This is good! You want to see the price more or less stabilizing on weak volume. The longer this happens, the more solid the support levels will be. It provides credibility to the recent price rise.

Now this is important!

"IF" HC is going to break out and move higher, the current technical environment is where it will come from. It is "setting up" nicely for such a move.

Of course confirmation IS REQUIRED, and I can't stress this enough. The time to add to your position or take an initial position is north of 20.33, your pivot point. An order to buy in the 20.50-20.75 range should insure a good spot on a risk to reward basis on participating in any breakout should one appear.

On the downside?

A close below 17.50 and people should take their profits and run.

stockcharts.com[h,a]daclyiay[pb10!b50!b200!i!f][vc60][iut!Lb14!La12,26,9]&pref=G

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