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TransAct Technologies Incorporated Message Board

  • execspec11 execspec11 Feb 10, 2005 1:46 PM Flag

    Wedge breakdown

    Hard to tell what position drgonzo & dmunoz have on the "declining wedge" debate. I think drgonzo is Bearish because of declining wedge - which would be what I said the previous week & agree with. While dmunzomoney appears to be Bullish by stating that the past 6 months shows a pattern of higher lows. Perhaps his graph is upside down as there has been a clear 4 months of lower lows each month. In fact going back 12 months there is also a pattern of lower highs and lower lows. A higher low could occur soon, but clearly TACT has broken down yet again from its wedge and the short term resistance can be moved down from the 20.8 area to 19.7 to 20.3 area. Targets over the next month just over 16 with a max into the 14.5 to 15 area are still my expectations before a strong buy point.

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    • Actually the declining wedge is a bullish chart formation indicating the stock will reverse direction. As an inclining wedge would be a bearish pattern. TACT has fallen to the bottom range of the wedge (almost out) and could re-test the 15$ area if it falls further and will completely break the pattern. Today�s strength indicates that we may still be completing the declining wedge pattern. The idea is that the stock price is declining within an increasingly narrow trading range. This really means the stock should be making lower lows. Who knows earnings will shake this one up or down in a big way. I am cautiously bullish.

      • 2 Replies to drgonzo2222
      • Declining wedge since October has now proven its Bearish breakdown implications after sideways movement around the 18 to 21 area. 16's was the easy target to wait for as mentioned a few weeks ago.

      • This is Nevgreco and I am thinking of getting a position...In the last two posting you are saying Ying or Yang..it might or might not...I feel that the chart needs improving....I have a large position in WGA which owns AG&E which repairs slot machines and is a distributor of parts for ithaca the printer that is being used in slots...WGA has part houses in Florida, Midwest, Nevada and Calif and New Jersey and just got a license for Colorado..They are the PeP Boys of the slot and gaming business..also WGA makes monitors for slots or what have you in the gaming business...But I feel that WGA and Transact Tech. compliment each other...they could use each other....Check our board on the Yahoo as to WGA....

 
TACT
5.68+0.20(+3.65%)Dec 24 12:23 PMEST

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