Flags and Pennants

[nunthewiser]

But then how is that an edge if almost everyone is doing it?

allsorts of patterns out there m8

knowing how to read them and expectations of outcomes gives you that lil bit more

patterns are good ........ most indicate a move is due

picking the direction and managing the position is where the edge comes in

 

[nunthewiser]

HOLY SHEET!

ive clocked up 2000 posts today

man i need to get out more!

 

[legs]

MGX got a flag happening???

New at this type.

http://finance.yahoo.com/echarts?s=...=on;ohlcvalues=0;logscale=on;source=undefined

 

[legs]

Bit of a pennant developing here.

Any update on this one? PRU.ax

 

[Sean K]

Any update on this one? PRU.ax

She's conforming to some support lines here, as well as top resistance line on the pennant. Support above 82 established by the chart and probably the capital raising at 82 (I think). So, still in play, for now. POG could be a factor whether it breaks up or down perhaps.

 

[legs]

Looks like it has started to break up today..

Up to 0.98

 

[Surfer35]

Legs,

I think you might be on to something with MGX. Another bounce off .85 and a tightening bottom range around the .79 mark should see a nice flag formation. Volume is average too.

Watching this one with interest. Has a tendency to move around a bit, so might provide a short term break out beyond .85.

 

[legs]

Kennas what do you think about MGX??


If it bounces off the top line again it is showing a nice pennant isnt it??? Like PRU's??

By the way PRU looks strong today still!!!

 

[beamstas]

I like it

edit: where did your post go?

 

[legs]

Here it is...sorry i had to try and fix it.

 

[Sean K]

Kennas what do you think about MGX??

If it bounces off the top line again it is showing a nice pennant isnt it??? Like PRU's??

Maybe a short term triangle over the 70 ish support mark, but dodgy. Too extreme in it's movements short term to make a call there for me.

Longer term. looks pretty good.

Been trending up for 6 months. Clearing resistance and then it's formed support.

Yet another resource stock that has done extremely well the past few months.

The question still remains, 300% bear bounce/dead cat, or start of a long term recovery?

 

[legs]

Maybe a short term triangle over the 70 ish support mark, but dodgy. Too extreme in it's movements short term to make a call there for me.

Longer term. looks pretty good.

Been trending up for 6 months. Clearing resistance and then it's formed support.

Yet another resource stock that has done extremely well the past few months.

The question still remains, 300% bear bounce/dead cat, or start of a long term recovery?

Couldnt you say the same for PRU though??

 

[legs]

Re: PRU - Perseus Mining

--------------------------------------------------------------------------------

Quote:
Originally Posted by kennas
Intersting pennant/triangely thing appearing here in a very nice uptrend and over significant horizontal support. Looks pretty bullish for a break up to me if that all holds. Should do unless a black swan lands in the pond. Hate those!


Potential breakup intraday, but intra day calls are for mugs. So, I won't be muggish enough to call it a break up at this time. But it has potential. Or, I'll be a mug.

 

[saiter]

Re: PRU - Perseus Mining

--------------------------------------------------------------------------------

Quote:
Originally Posted by kennas
Intersting pennant/triangely thing appearing here in a very nice uptrend and over significant horizontal support. Looks pretty bullish for a break up to me if that all holds. Should do unless a black swan lands in the pond. Hate those!


Potential breakup intraday, but intra day calls are for mugs. So, I won't be muggish enough to call it a break up at this time. But it has potential. Or, I'll be a mug.

Yup PRU has broken through, same with IRN and AGO. Tried to get the orders filled in the last minute but I missed out Oh well see what happens tomorrow...

 

[skc]

A pennant above support. The movement before hand not exactly trendy, however.

 

[legs]

What do you say when this happens??

It hasn't "broken out" has it?


MACD is also showing a "buy" isn't it?

 

[wonderrman]

This one broke out today. RIV.

 

[bowman]

Two more speccies.

 

[travwj]

GDY pennant. New to T/A. But would you expect this to comtinue on it's small uptrend. Any feed back would be much apprreciated. Trav

 

[legs]

Two more speccies.

SAR is 2 weeks long enough to rely on a pennant shape?


anyone?