Chart help - PTNR

[stojakapimp]

My colleague told me he is interested in PTNR because of their fundamentals and I told him that I'd use my technical analysis "expertise" to check it out. I looked at the chart, and it looks like a Symmetrical Triangle pattern to me. It's had a nice previous upward trend, and is near the end of the Symmetrical Triangle pattern, which means that it might be a prime location to move up again. Judging by the greatest width in the pattern, I would estimate it to go up to about $26, or around a 16% profit.

Does anyone else agree with me?

[Peter Hansen]

STOJ Fundamentals not bad

My colleague told me he is interested in PTNR because of their fundamentals and I told him that I'd use my technical analysis "expertise" to check it out. I looked at the chart, and it looks like a Symmetrical Triangle pattern to me. It's had a nice previous upward trend, and is near the end of the Symmetrical Triangle pattern, which means that it might be a prime location to move up again. Judging by the greatest width in the pattern, I would estimate it to go up to about $26, or around a 16% profit.

Does anyone else agree with me?

STOJ the fundamentals are improving and my charts seem to indicate ...that it may be ia buy shortly. $26 Who knows .....but if erarnings keep on trending up .....this will be good .

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ptnr&sid=0&o_symb=ptnr&freq=1&time=6

[New-born baby]

Weekly chart and PnF say that PTNR is running out of gas--perhaps. $22 has four times now proven to be real hard resistance. A breakout above $22 on volume points to a move to $25--not all that much upside. This bull run is getting long in the tooth. When do they report earnings?

[spikefader]

Bullish charts due a monthly impulse 3 up. Thanks fer the heads up on it.

[stojakapimp]

Weekly chart and PnF say that PTNR is running out of gas--perhaps. $22 has four times now proven to be real hard resistance. A breakout above $22 on volume points to a move to $25--not all that much upside. This bull run is getting long in the tooth. When do they report earnings?

I'm thinking that maybe with today's downward movement (at least so far), hopefully it will bounce off the bottom trend line, make its way back up and break through support on the upper trend line. I'll have to keep a close eye on it.

[skiracer]

I'm thinking that maybe with today's downward movement (at least so far), hopefully it will bounce off the bottom trend line, make its way back up and break through support on the upper trend line. I'll have to keep a close eye on it.

stoj,
there are two important things that you must learn.
1. trade what you see and not what you think.
2. you can wish in one hand and shit in the other and see which one fills up first.
if PTNR is still within that ascending triangle pattern it is bullish. until it breaks below the bottom line it is bullish and i would be looking for an entry here once it hits the bottom line of the triangle pattern. it is almost there right now today.

[stojakapimp]

stoj,
there are two important things that you must learn.
1. trade what you see and not what you think.
2. you can wish in one hand and shit in the other and see which one fills up first.
if PTNR is still within that ascending triangle pattern it is bullish. until it breaks below the bottom line it is bullish and i would be looking for an entry here once it hits the bottom line of the triangle pattern. it is almost there right now today.

Well I haven't made an entry yet...just spouting off what I hope will happen in my ideal world.

So if it bounces off that bottom line then you would consider that a good place for an entry? Isn't it better to wait for a confirmation, such as to break above the top trend line on high volume?

[skiracer]

Well I haven't made an entry yet...just spouting off what I hope will happen in my ideal world.

So if it bounces off that bottom line then you would consider that a good place for an entry? Isn't it better to wait for a confirmation, such as to break above the top trend line on high volume?

if you were to look at hundreds or thousands of ascending, descending, or symetrical triangles you will see one continuing point. they stay within the triangle and do not violate the pattern by breaching either the top or bottom lines. they have to reverse after touching either the top or botton line. so when they touch the top line after a stint of moving up they reverse and drop or correct back down to touch the bottom line and then reverse the correction and turn back up. many times these cycles are part of a continuing ellliot wave pattern. but they do not have to incorporate the elliot wave pattern or count to still be a viable triangle pattern. all they have to do is stay within the lines or boundaries (parameters). not all are going to maintain this pattern but the ones that do are exactly like PTNR and exhibit the same pattern within the lines. it is a high percentage bullish pattern regardless of what it does here with PTNR. this stock has worked out well within the lines of the triangle and is now touching the bottom line. i would expect it to reverse right here and begin moving back up to the top line. the 50 sma is also right there or a little under the bottom line at the apex and will offer support at the bottom line. since it is deep into the neck or apex of the triangle i would also expect it to breakout breaching either the top or bottom line soon. my bet would be to the upside.
buying at the low point would provide the best risk vs reward scenario in this particular setup. the problem with that is that you must have confidence and believe in your analysis, plan, and experience in making the trade. managing the trade with a well placed stop will insure the loss side will be kept to a minimum if it goes that way and the upside can be controlled with trailing stops and letting it run out to the max if it goes in that direction.

[riverbabe]

You have me watching this one too. Thanks! Closed at 21.26 with LOD @ 21.05. I wouldn't be buying this if tomorrow's futures are indicating another down day. It might just break 21.00 or less and break the triangle to the down side. Pretty close for comfort IMHO. Spike's charts and Ski's analysis look bullish though. Am keeping a sharp eye on this. River

[skiracer]

You have me watching this one too. Thanks! Closed at 21.26 with LOD @ 21.05. I wouldn't be buying this if tomorrow's futures are indicating another down day. It might just break 21.00 or less and break the triangle to the down side. Pretty close for comfort IMHO. Spike's charts and Ski's analysis look bullish though. Am keeping a sharp eye on this. River

i want to see 20.75 to 21 range. 20.75 would put it right on the 50 sma and the bottom line of the triangle. the market could be the difference in that if it continues down tomorrow it will most likely take many stocks with it. i like it to bounce off the bottom line of the triangle or the 50 right around 20.75. looking for the entry i want tomorrow morning maybe. patience right now to see where it goes.

[New-born baby]

Bullish charts due a monthly impulse 3 up. Thanks fer the heads up on it.

Spike,
What is the significance of the 1927 avatar? Thanks in advance for your reply.

[billyjoe]

You have me watching this one too. Thanks! Closed at 21.26 with LOD @ 21.05. I wouldn't be buying this if tomorrow's futures are indicating another down day. It might just break 21.00 or less and break the triangle to the down side. Pretty close for comfort IMHO. Spike's charts and Ski's analysis look bullish though. Am keeping a sharp eye on this. River

Also paying a 6.2% dividend at this price.

--------billyjoe

[New-born baby]

Also paying a 6.2% dividend at this price.

--------billyjoe

As long as divy is safe, that's good news.

[spikefader]

Spike,
What is the significance of the 1927 avatar? Thanks in advance for your reply.

Ahoy New-born.

It's just a quiet reminder.

History is never antiquated, because humanity is always fundamentally the same. ~Walter Rauschenbusch

History is not the past, but a map of the past drawn from a particular point of view to be useful to the modern traveler. ~Henry Glassie

History doesn't repeat itself, but it rhymes. ~Mark Twain

Or a slight variable of that last one:
History doesn't repeat itself, but human nature does.

And a quote I just created:

"Forgetful speculators or those who ignore cyclic price action history will eventually be forced to endure a terror-filled ride on that emotional roller coaster otherwise known as market will."

[New-born baby]

Spike

Spike,
Is this what you are talking about?

1927-1933 Pompous Prognosticators

"We will not have any more crashes in our time."
- John Maynard Keynes in 1927

"I cannot help but raise a dissenting voice to statements that we are living in a fool's paradise, and that prosperity in this country must necessarily diminish and recede in the near future."
- E. H. H. Simmons, President, New York Stock Exchange, January 12, 1928
"There will be no interruption of our permanent prosperity."
- Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928