SYMC multiyear breakout

Discussion in 'Stocks' started by Marcell, Oct 15, 2007.

  1. Marcell


    Symantec broke out last week. It broke the resistance that has been valid since beginning of 2005! I took today's sell-off as a chance to establish my long position. Could be the beginning of recovery, at last.
  2. Over the years I have had more losers than winners when I buy a longer term downtrending stock. I know they don't have to go down forever, new management, new product or other reasons can turn them around, but from a risk/reward standpoint my experience has been more losers than winners. I get many more winners when I buy an uptrending stock that has pulled back to around the bottom of its Linear Regression Channel. Just my experience, GOOD LUCK.
  3. I don't see a breakout.

    I do see a trend break in 2004. But the triangle will have to resolve at or before the apex.
  4. Here is SYMC Weekly chart with Symmetric Triangle.