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VirnetX Holding Corp Message Board

  • willie7 willie7 Feb 1, 2013 1:53 PM Flag

    Chart reading for a slooooow Friday

    I am seeing 2 possible chart patterns. A double bottom and a ascending triangle. The double bottom started back in Nov at $37.65 high dropping to $29.26 on Nov 18th then up to $36.30 then next leg down to $28.83 on Dec 31st. Breakout would be over $36.70 . We tried on Jan 29th and have fallen back some but still valid. This pattern is best seen on a 5 or 6 month daily chart on stock charts ... The ascending triangle is a little harder to see. The upper trendline is easy just draw a line attatching tops going back to the Nov high at $37.65. We can start the lower line at the dec 31st low of $28.83 and connect the lows going forward. The breakout is similar to the double bottom at around $36.70. Again the best chart is the 5 or 6 month daily on stocks charts. Just some fun on a Friday. The magic # seems to be over $36.80 on good vol and stay there for a few days, then up to the gap at $37.50 ish. What do the TA folks think

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    • Shooting star/potential bearish reversal on daily; lots of resistance just above at $35 (but could breakout); keeping pace w/ sizzling S&P (no better/no worse); nicely tradable on dips (until it's not); Full Stochastic negative (but could turn up); Macd histogram negative divergence w/ price.

3.20+0.05(+1.59%)Oct 24 4:01 PMEDT