On a weekly chart, even daily moves are just noise..............
I have day traded many a year. And I must say that if I just used a daily and weekly chart , there is no stock or instrument I would have made more money with on any of the shorter time frames. Even the 60 m is so meaningless as when tops and bottoms are reached on 15 and 60m frames, they dont even show up on a weekly chart. What does that mean..........................WE ARE LEAVING TOO MUCH MONEY ON THE TABLE OR ENTERING TOO SOON...ONE OR THE OTHER! When you can even hear of one person who learned intra day trading from a guy like Soros or Buffett then I will rethink this. But a daily chart is now the lowest time frame I use. I use only 15 or 60 on rare occassions to pick up uinusual volume. Any time frame under daily is not only counter productive...its exactly what tradestation and all these "trader friendly" brokers want you to use. Im not saying buty and hold is best. Im saying swing trade holding days at a time or better yet weeks. None of this 1 or 2 days nonsense. Every successful daytrader is giving away at least 1/3 of his profit to the house and also is prey to all the con men and market movers.
I've been following / trading DGX for almost a decade. DGX has topped out 3 years ago. and now is just in a trading range. high $40s to mid $60s. So buy and hold is definitely out. DGX does sport a 2.5% Divy. so that's respectable. LH on the other hand has no Divy.
Anyway, ones safest best bet ( till the 3 year trading range breaks ) is buy under $55, and sell over $60.
Say. Buy 25% of your allocated amount at $55, then another 25% every 2 point drop.
Seeing DGX has never topped $65. Your sell parameters would be different.
Sell your first 25% holdings at $60 then another 25% every ONE point increase.