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Strategies & Market Trends : Ted Warren's Investolator -- Ignore unavailable to you. Want to Upgrade?

To: Balti who wrote (1314)	5/20/2023 9:24:19 PM
From: WEagle	Read Replies (1) \| Respond to of 1795

Balti, When you said,"Wouldn't the buy signal be given by the breakdown of the downtrend?" I think you meant to say, Wouldn't the buy signal be given by the breakout above the downtrend line?". Actually, I think the official TW buy signal would be at the end of April when the priced closed the month above the downtrend line as you have drawn it. Looking at it that way, the price is only about $1.50 above the buy signal. The buy signal would have still come after approximately a 65% rise off the bottom. That may still seem like too much to miss out on but I think that is the real buy signal. Looking closely at the chart, one could argue that the formation from August or September of 2021 to present is a downtrend bottoming in a dish or bowl shaped bottom. As you probably recall, I2 and I love these. However, this one is a little short of being two years long, shorter than we would like. But, considering what the strength this shorter formation should give the stock, it is most likely that this formation will be enough to propel to stock to the point of a TW buy, and it did. Easy to say now. Hindsight is 20/20. Anyway, buying based on this would have allowed an entry in the range $5.00 to $5.50. I know I've jumped on several stocks with the bowl bottom formation a little earlier that maybe I shouldn't have but for the most part those buys worked out O.K. Most of those trades came when the market was a little stronger,however, I do think this market is getting ready to make a strong move up -- at least I hope so. WEagle