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Diamond Foods, Inc. Message Board

  • jessito11 jessito11 Jan 29, 2013 6:39 PM Flag

    technical breakout from the triangle formation

    DMND has been trading in a tight range of lower highers and higher lows for the better part of the last two months. Yesterday it confirmed a solid breakout from the triangle and today added some follow through. Not to mention that it finally crossed and closed above the ever important 50 day moving average. The above average volume (would love to see it in millions though) made the breakout slightly more convincing as well. 13.50 was an outstanding floor for the quite a while. 15.50 will be the next test as it had failed to breach that area during this two month consolidation. I have no doubt a squeeze back to 18-18.50 to fill the gap down in november would follow after a successful test of 15.50 level.

    GMCR, DNDN, FSLR, NFLX, MCP, RIMM, SODA, DECK. All had extremely high short interest. All had some form of accounting/earnings/outlook issues. All formed a nice bottom base and subsequently risen higher (some dramatically higher in excess of 100% in a short time frame). It is only a matter of time that traders get back into DMND for the next "play".

    Gluck all, it seems that DMND could turn (finally)?

    Sentiment: Strong Buy

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37.56+0.36(+0.97%)Feb 26 4:00 PMEST