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<< $80 is in sight, as I forcasted >>
You and about 5,000 newsletter writers. Puts you in good company <g>.
You and about 5,000 newsletter writers. Puts you in good company <g>.
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Don't think I've seen anyone forcasting a drop in oil. Kinda like farm land prices in Bedford county VA.... As long as the freakin snowbirds are fighting over it it'll keep going up. Maybe high oil prices are their fault too.Originally posted by DStecklerBEEF!... it's whats for dinner!Comment
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Bull Flag Pattern
Bull flag is a sharp, strong volume rally on a positive fundamental development, several days of sideways to lower price action on much weaker volume followed by a second, sharp rally to new highs on strong volume.
The technical target is derived by adding the height of the flag pole to the eventual breakout level at point (e).
Bull flag formations involve two distinct parts, a near vertical, high volume flag pole and a parallel, low volume consolidation comprised of four points and an upside breakout.
The actual flag formation of a bull flag pattern must be less than 20 trading sessions in duration.
Most flag patterns occur at the middle of the larger move higher for a stock.
Upside breakouts often lead to small 2-3% rallies followed by an immediate test of the breakout level. If the stock closes below this level (now support) for any reason the pattern becomes invalid.
Bulls flags are favored among technical traders because they almost always lead to large and predicable price moves. Like all continuation patterns, bull flags represent little more than a brief lull in a larger move higher. Indeed, in many cases the flag pattern will actually take shape in the middle of the ultimate move higher. Bull flags occur because stocks rarely move higher in a straight line for an extended period, instead, the move higher is broken up by brief periods where traders "catch their breath".
The first part of the flag pattern is often called the flagpole or mast. During this phase the stock price skyrockets to a reaction high (a) on some positive fundamental development. Very often this will be the unveiling of a new product, a favorable legal resolution or positive earnings surprise but the change in price is near vertical as would be sellers are overwhelmed by new buyers caught-up in the euphoria of the moment. As the stock soars speculators that were smart enough to have purchased the stock at lower levels begin selling.
At this point the second phase or flag portion of the bull flag begins. Because the flow of news and investor sentiment is overwhelming positive, most of the stock sold by speculators is easily absorbed in the beginning but as time passes fewer investors seem willing to pay the current price. Slowly, the stock price begins to falter on dramatically reduced volume. The descent is slow because bullish sentiment is still very strong.
After several days of minor weakness, a rally begins and a minor low is set (b). Sensing an opportune time to enter new positions buyers begin to return, pushing the stock very near the most recent high but because volume is light this rally is easily rebuffed and a slightly lower high (c) is established before the price turns lower. The new round of selling sends the stock modestly lower on reduced volume. After several more sessions the stock moves below the lows made at point (a) but volume contracts further. Just as it begins to look as though a real decline is underway there is a new positive fundamental development and the stock begins to move higher (d). As the rally accelerates volume increases dramatically, buyers overwhelm those taking profits. Over the next 1-2 sessions the stock moves through the high set at point (c) and volume surges further. This triggers an upside breakout point (e). The next session several Wall Street firms either make new "buy" recommendations or reiterate existing recommendations. The stock opens higher and goes on to make significant new highs in the weeks ahead.
SwingTrades.comComment
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NB Look At NUAN >>>>>SWEET!
NB NUAN Looks as if she is ready to make a run here ....any thoughts on this one ?Comment
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Nuan
Pete,Originally posted by Peter Hansen
I don't know . . . PnF says she's in the Twilight Zone, i.e., exceeded the $8.50 target already. . . and then a look at the 10 yr, 6 mo. weekly says the same: target hit already. The daily shows she pullsback strongly on high volume, and moved up weakly on low volume. In summary, I don't know how much she has left in the tank. Sorry to be a party pooper . . .
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The VTP shows a bearish bias...Originally posted by Peter HansenComment
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Vtp Rules The Street
It sure is nice to have a vote of confidence from the VTP. That thing RULES THE STREETOriginally posted by Websman
Last edited by New-born baby; 04-24-2006, 10:17 PM.Comment
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My, he looks like a charming fellow.—RobComment
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GNB And Spike Thanx
Guys I am evaluating NUAN .......and may take a small position this AM .....I appreciate your analyses ........both were great........but I think SPIKE may be right ?Comment
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NB 3 mentioned on CNBC Today!
NB NTRI, SUNW and NFLX were mentioned on CNBC today.....2 are already up in premarket trading......Is it too late for any of them ?Comment
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Pete
Pete,Originally posted by Peter Hansen
NUAN: Spike could very well be right. I just don't know what NUAN will do next because my style of trading doesn't like to take positions for which the Dow Theory has no clear target. (Raff's Regression Channels do work nicely, but they are a EW thing and I really don't rely on them. Perhaps I should put some effort in to studying/using them more). In short I happily defer to Spike.
Now, NTRI:would have been nice to buy this company's stock for 25 cents in 2003, or even $1.30 in OCT 2004. NTRI has had quite a run since that time!
PnF says she ought to hit $59. Yesterday, $48.50 was the perfect entry as it was a retest of the minor cup with handle. And yesterday NTRI formed a bullish engulfing candle. This candle signals a three to 15 day trend reversal, in our case, from a retrace to a bullish run. SO have at it!
SUNW: May run to $7.75 . . .I don't see a really bullish chart here, so it isn't something I want to trade. Yes, I know the CEO resigned yesterday, but whatever happens next is going to be just an emotional bump that lasts a couple of days until the shorters take over
NFLX:Nice breakout from a trading range that signals $40 target is in sight; $30 is now support.Comment
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NB 2 more for the gipper BW and SKX
New Born These just came up on my radar .....BW and SKX Sketchers also has some dynamite fundamentals.....Comment
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BW: strong support at $24, strong resistance at $27. Could enter here, stop under $23.90, and look to take half the profits at $27 and let the rest ride.Originally posted by Peter Hansen
SKX:much more bullish chart, imo, than BW. Targets $54.50 with the cup formation. I like it
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I have had HSTM show up on several screens. Is anyone following
this one? I have just started to get into research but forcasted
GRT of 36% and sales growth of 48% sound very promising for a
longer term hold. Just curious if this is on anyone else's radar.Comment
Nuan may well soon test that 15.37 high from 7 years ago. 
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