I would like to add a thread that is titled “Buy,Hold, or Sell, Why?”. A place where we can post charts with our brief explanation supporting our point of view. No bashing ones point of view and who knows we collectively may find a few that ramp up some nice gains..
Buy,Hold, or Sell, Why?
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Well I think it all depends if you're already in the stock, have a gain on it, loss, or if you don't own it at all. For me if I was looking to buy I would not since it is right at the top trendline resistance and would wait unitl it is broken. If I owned it I would be locking in some gains, definetly not buying more.
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Originally posted by New-born babyI would buy it because of the double bottom. And Runner, this is just the kind of thread we need. Keep it running!
You are correct. This is definitely the kind of thread we need; especially if a thorough explanation is given for the action suggested along with appropriate footnotes as you do in your replies. Spotting patterns in TA can be challenging and interpreted differently by different chartists.
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I would not take that trade as I would rather buy at the bottom of that channel. BUT if that upper channel is a decent % away (assuming thats the target) then I would - it doesn't look that way. I think taking the trade now you are late to the party.
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I'd say buy too....
How about this one?
BEEF!... it's whats for dinner!
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Originally posted by Lyehopper
I would not buy that stock. For a weekly chart it looks very wide and loose..
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how about this one?
Originally posted by RunnerI would not buy that stock. For a weekly chart it looks very wide and loose..
BEEF!... it's whats for dinner!
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