So after reviewing some charts, I think EGN might also be good to pursue ... I'll let you know if I go long IBN, short EGN I really need some way to see what the news stocks are and the ones with the most volume, something like EGN would have been a ridiculously easy trade today ... and no one can claim hindsight 20/20 on that one I attached a renko chart because I like the way it looks in QuoteTracker better than PnF; pretty much the same thing since for day trading I like to use a 1 box reversal anyway
I've watched this thread for some time and enjoyed it having used P*F charts for a long time as the final confirmation of trades I'm, help me establish targets and stay with trends. I've not wanted to comment though because the thread has gone so well and I don't want to bring anything negative to it. However, I think that the chart of JNJ is one worth looking at for a breakout if it gives the setup.
I notice it yesterday, while working thru the J, K & L putting together my scan list. But on my Stockcharts chart, both Close and High/low, it already shows a breakout signal at 68 (which it already reached), so why isn't it already considered a buy? thanks After I posted that, I see that Bullseye and Stockcharts are quite different. This is not the first time. I wonder which is correct or do we have the charts set up differently? Stockcharts indicates that jnj hadn't closed above 67.99 or even hit 68 in the last couple years, so it should be easy to see which is correct. Bullseye shows it got to 69 twice Is there a good site or chart to show a daily end of day and high/low for a specific stock for the last 2 years?
Nice call flyinglead, although I'm still glad I didn't get in on it, kind of illiquid (50K volume). Hope it goes well for you! I held EGN for a day, made a quick $50 off of it. Currently I'm just long CMI and ABT. Also, FlyingLead you are right, JNJ has never been above 70 (or 69, or 68). I'm using Stockcharts.com. I really want to get in on JNJ on a pullback.