And what's with all the weird posters on this board still typing random letters under strange aliases??? I've never seen a board this bad.
I just put up another update on Stockineer if you guys are interested. Bumping head on long term trendline resistance. We took out a short term overhead trendline today so one the long term is kicked...there's nothing left to resist price.
Lookin' very good. The resistance at $7.60 was knocked out and rising towards the all time high. A blue sky breakout could push prices north in a big hurry. Technicals are looking great. I posted an updated chart with the technicals and price chart. Good luck guys. I hope we're in for a good ride if the market holds up for us.
As with all trends, they must come to an end. GTAT has been in a multi-year downtrend losing most of its value. Trends often change direction as a result of a reversal pattern, in this case, an Inverse Head and Shoulders Pattern.
We’ll look for a breakout above $3.85, or $4.00 if you want to play it a little safer. The bummer about this setup is that there’s some pretty strong overhead resistance shown on the chart, but the trade could be good .for 20-25% based on the minimum target, which takes us right to that upper trendline resistance! An additional breakout upward could really be a windfall if $5 is surpassed and offers an additional buying opportunity.
I've put up the chart and more discussion on Stockineer as GTAT just got my attention as a possible trade setup. A breakout could bring a lot of attention...it couldn't quite do it on Friday although it tried. I could see the price rising rapidly from $4-$5 if this pattern can play out....if not much more than $5.
Is there a reason for the downward pressure on precious metals or just speculation? The Cyprus thing is just the most recent event. Are people really taking money out of gold and putting into equities at this point? With the fed continuing to keep interest rates artificially low, I'd suspect gold prices to rise with inflation fears....is that somehow no longer a worry?
There was an inverse head and shoulders pattern, not a cup and handle. There are several cup and handle requirements. In this case, the cup is too deep. Another requirement is that there is a price rise into the cup, but we don't have that either. Check out Bulkowski's encyclopedia of chart patterns and you'll see that FB doesn't meet the requirements. You should be more concerned of the neckline on the inverse H&S.
Taking a closer look at the pattern...it's actually an inverse head and shoulders, so that's pretty exciting. It predicts a minimum move to just above $15. I couldn't resist and added a few more shares today because the price is sitting right on two support levels and there's another just below. Let's hope the down market doesn't ruin this trade.
Some are ones that I own or have owned, some are just popular stocks at the moments, and some are requested. YHOO was just requested last night.
Benzilla, thanks for pointing this out to me. I don't want to break any rules of the message boards. I took a look over the terms of service to find out exactly what the rules are, and I read over the complete spam policy. Most of what follows relates specifically to automatic bots, posting links, viruses and repeated posting of the same thing. I'm not any of those, but I am promoting something, which is really what I'm doing wrong. So I apologize. Your point is well taken about clogging up the forum.
I think that I can still discuss the the technical information that I write, on the message boards without so overtly promoting the site. After all, the purpose of these message boards is to share information with everyone and help them make good decisions. Lots of folks talk about articles that they've read on sites and I don't think this would be any different. There's so much bad information floating around there's always room for intelligent discussions.
I think the fact that I'm a real person, posting unique messages about the current message board stock that would suggest articles without posting links is withing the TOS of yahoo as long as I don't just say, "come to stockineer, it's great there"...at least the way I read the document.
Thanks again for pointing this out.
Thanks. Through the site, I'm aiming to get a nice community together to discuss what we are seeing. There's a lot that the charts can tell us and more people can see more things.
Thank you RH. I've seen you around a few times, but I haven't seen you post to the site yet. I appreciate the positive feedback and I'll see you around.
Thanks laettis, that's awesome. There's so much stuff on these message boards that it's hard to wade through it. I'm glad that I can reach a few people.
In general though, there's no way to know where there is a top or bottom. You can only make educated guesses based on the evidence. $320 is a possibility, but there's several levels of support before then.
It's funny that you ask about AAPL...check the site again because there's a similar write up. Look under the tab "featured stocks" and you'll see it.
Hey Pt, thanks for the nice comments. I hope to see you around the site. Stocks are always a battle between the bulls and the bears.