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Strategies & Market Trends : Ted Warren's Investolator

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From: WEagle	1/4/2022 9:19:26 PM
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I was looking at the chart of ARC. This is daily bars. Both I2000 and I own this stock. I now have a profit of about 190% and I think I2000 has slightly more, if my memory is correct. As a buy off of the preceding downtrend, we had no reason to expect more than 100% to 200% profit, but ... As the chart below shows, it has been moving up nicely in steps but generally staying in the channel I have marked. The company resumed dividends earlier this year and recently raised the dividend. Quarterly earnings have been increasing. On top of that, the volume has remained low which indicate to me that the public is not yet excited about ARC. My thought was that if it pulls back from the current high which is at the upper trend line, but remains in the channel and turns up again, I may decide to double my position. If it drops past the lower trend line, even if it then turns up again, it might just go up to a lower high after it has formed the lower low so it could the establishing a new downward trend and the buy would be off. WEagle

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