My father asked me to looks through is portfolio tonight and he owns TEX, which has a damn nice chart right now. You have an inverted head and shoulder back from November. A smaller inverted head and should in March. And this thing just broke the 200day SMA on high volume. I'm going to buy this for myself on this next pullback.
And what pullback are you referring to? If it goes up another 10 points and pulls back 2 points, is that when you will buy or are you hoping for an immediate pull back that you do not know will actually happen? And where are do you think it will pull back to? I guess one good thing is that the stock busted through the 200 on huge volume. One bad thing is that the 200 is declining. I'd rather buy if it was flat or up.
agree.just broke above the 200 dma on heavy volume from a reverse head and shouldler bottom. some resisitance at 75 but it looks like it wants to really move.
its bad that the 200 dma is declining? no its not,its a good thing as the 50 dma is starting to point up and wants to break above the 200 dma. that is always bullish. you are confused,its bearish when the 50 dma crosses below the 200 dma.
It's not something I would buy if the 200 is declining, just not my style. Not saying you shouldn't buy, just a negative for me if I thought about trading this stock. What am I confused about? The only way the 50 day can be below the 200 day is if at some point for awhile the stock was trading under the 200 day. Well, I wouldn't even think about going long the stock if it was under it's 200 day, again, just my style of trading. And I never referred to the 50 day anywhere in my post in the first place so not to sure how you think I am confused. Again, just a negative on MY mental list if I 'm thinking about buying a stock that has a declining 200 day. Whatever works for you though, great!
Good point. Normally I like to wait for a pullback, but I'll just buy on monday and use the 200sma as a stop.
If I were you I wouldn't buy it until it hits 73 with half of your position. That is a point where it will break its last high in this rise. It is going to run into trouble again around 76. Wait and see how it handles that situation before adding. I like the chart as well.