Buy at support

Discussion in 'Trading' started by a5519, May 27, 2003.

  1. a5519

    a5519

    Triple bottom. What could be the arguments not to buy today ?
     
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  2. ???

    Is this a 5-minute, 15-minute, Daily, Weekly chart? What stock (not listed on the chart).
     
  3. Dude, we aint in the bubble anymore... it therefore ain't a 5min chart... its a daily...
     
  4. a5519

    a5519

    It's daily TCB
     
  5. exce26

    exce26

    It looks like going to breaking down
     
  6. Could be descending triangle. Stop out (and/or short) on apparent breakdown.
     
  7. a5519

    a5519

    So why should it break down. It tested already support level three times. First Qtr report is released. My be only if S&P goes down 3%.
     
  8. "So why should it break down."... Feckless question.
     
  9. a5519

    a5519

    We will see how TA works. I will post the same chart on friday after closing.
     
  10. JT47319

    JT47319

    Agree, looks like a descending triangle.

    Usually, one side will test the bottom and if that fails, the other side will test the other end. The fact is, it looks like the bears are still in control. With a descending triangle, looks like you have limited upside with the downward sloping channel.
     
    #10     May 27, 2003