Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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From: chowder	12/20/2006 5:37:09 PM
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The power of the high volume, bullish wide range bar. I have given considerable attention to the power of the wide range bar over the last couple of years. When you have price breaking out to a recent price high on above average volume, while forming a wide range bar, it is an indication of "institutional" buying. When a stock gets institutional support, it usually means higher prices are in store. It is common to see some profit taking following a high volume wide range bar, but the pull back is a buying opportunity as long as the price pull back is on lower volume. I have mentioned GT on several occasions. I am up over 80% since it was first presented here. I mentioned another buying opportunity a little over a month ago when GT formed yet another, high volume wide range bar. The expected profit taking occured and GT, as expected, is now breaking out to new highs yet again. If we are to take advantage of institutional buying, we must get over the fear of chasing after a stock. We must learn the dynamics behind these price moves if we are to take advantage of huge intermediate gains. GT has provided several opportunities to hop on board over the past 6 months.

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