Betty, as both you and I know, any stock is in several patterns at the same time, all depends on the time scale. It may be turning up on a weekly chart, about to make a double bottom on a daily, and have a strong trend up on 5 min. Triple tops or any other formations can be seen on any chart - from quarterly to 1 min. Now, I see RMBS triple top on a DAILY chart, which makes my prediction a short term for most people (days ar weeks, month at most). For me, days is a long term.
Musya
P.S. For those who are not "chartists." Daily chart is the one that has one vertical line representing a day, 1 min chart - one vert. line represents one min, quarterly chart - one vert line is one quarter (you need several years of data to see anything on those). But this stuff is confused often. When you hear "pull out a 1-year chart", it usually means that you were told to look at a daily chart one year long, or at a weekly chart one year long.... |
