Genetz.. if you don't like the mgt in Z you will hate Poly over in VNDA..... they release less information than MC and company and treat you like a pest when you call IR....
I mix up flag, pennant, and wedge all the time... I knew were you were going with the post and I agree that is the way things are shaping up chart wise.
You have a fundamental misunderstanding of beta... beta has two primary uses.
1) traders search for beta because the swings are bigger.
2) if setting up a portfolio -- use beta to determine the risk and volitility you are able to stomach.
it is not predictive up positve or negative pps movement, just of stastically smoothed movement relative to the baseline.
On the two day chart.. the double bottom off of 1.05 looks good, but looks can be deceiving... just too much risk for me right now to trade Z, best guess is a .80 - 1.20 range (short term) and smack dab in the middle, not getting the odds from the house to plop some cash on the table imo.
that is a good thing, if in fact the pps is consolidating as I think it is... If I'm wrong ... oh well.
look at it this way -- today the pps of PRAN has had about 4% movement from lod to hod... while the sp500 has been less than 1%...
"For Prana, I think the stock is volatile, but not in relation to the market. The stock is not being overly influenced by the actions in the overall market, reference the actions of the general market and the actions of Prana. I think the volatility is leading towards a breakout in the stock price and not necessarily a huge drop if the market drops. Likewise, won't necessarily see a huge increase if the market sees a big increase, which is unlikely."
you are leaving out Risk that you mentioned in the 1st sentence of your post. Beta is a correlated volitility and risk to the sp500.. beta is neither postive or negative to the direction of the pps....... high beta stock are for the most part news and event driven and that is what makes for the greater swing in the pps therefore a higher beta. The trading range of this weeks show why the beta is over 1....
JIm, look into the Cleveland Clinic's Lutheran Hospital. They take a multi faceted approach to pain and treatment... they worked wonders for me when I fractured my back.