Look at that tall price bar today! That is the breakout above $36 that we were waiting for and keeping the Stockineer community abreast of the situation to buy upon a breakout. We nailed it (just like we nailed the AAPL breakout yesterday) and those keeping up on their Stockineer made bank. Ah, it’s nice to celebrate together, isn’t it?
Why are we so happy? It’s because DDD bulls can now say the price is in an uptrend as the price has broken above the double top pattern’s neckline. Otherwise, the price was just retesting that level. $36 should now set the floor and any break below should be viewed as highly negative.
Since the breakout occurred, we can now put a $54 price target on DDD.
As usual I put up the updated chart and the rest of the discussion on Stockineer....I also show the manipulation at market open. Nice job longs!
I just posted a new chart. Wow, it's hard to believe, but DDD just broke north of a parallel trading channel on very high volume. The channel is $4 wide which gives a potentially new trading channel of the same width. Check out the chart on Stockineer, as usual. Why is it so nerve racking to make so much money?! Let's just hope this trend continues. Good luck guys
Honestly, I wish you'd dumb down your posts a bit - either here or on your website. What you post seems helpful to people who know how to read charts on their own anyways, but for the rest of us, it's pretty opaque. Some 10,000 feet summation would be very much appreciated.
It's hard to believe with the soft finish Friday, and the technicals looking overbought, that we got such a huge day. It was a nice news driven event and if you take a look at the chart I just posted, it's hard to argue that we didn't get yet another breakout. This is a great stock! The ascent is so steep it can't be sustainable, but that can be rectified with some consolidation, not necessarily a sell off. We'll see, the market does what she wants.
I just put up another update with the current chart. You can see how significant the current patter is...price has hit it's head right on the upper trend line of the pattern and has sold off through the rest of the day. The indicators are now reading oversold, so don't be surprised to see a little profit taking.