================= Nice %% increase. No, thank you on a long trade-that's short covering ralley, mostly. i year chart has way to many downtrends[200day ma down, 50 dma is down]........................................... .....................................................................
================ vk60-vk50; No harm calling that an uptrend, because 20 day, 50 day price is uptrending; but i seldom go against a 6 month chart, 1 year chart, 200 dma, 50 dma, all of which are mostly bearish/downtrending... Wisdom is profitable. Keep studying for years; it gets easier as the years trend by.Good question.
Nice chart, I hate the ma's, they just confuse me and make price action harder for me to judge. That's just me though. I probably would of missed this trade, even if I actively followed and traded this stock. The second wave of what turned out to be a very nice two wave move (ABC), happened too quickly for my method. That said, this stock seems to be building a very tradable pattern. Thumbnail analysis, the stock stalled out at a very strong and predictable resistance area, it would be very tough to clear that congestion area that peaked around 12.40 in one move. From a technical standpoint, I would like to purchase this stock for a swing trade as soon as it starts showing some strength, ideally around the 10.00 level. If we could consolidate around there and take a run at the that high, there could be some open field running above 12.50. entry 10-11, stop 8-9.50, target say around 15-16 But here is the rub about tech a. I also wouldnt be suprised if this bounce is setting up the next leg down. If this pattern breaks down the stock could melt away to nothingness. I guess what I am trying to point out is that ta doesnt predict future, but only aids in setting up favorable R/R scenarios. I only trade leveraged futures products so that is the way i think. Nice chart, thanks for the heads up.