Flags and Pennants

[bowman]

You can check the time frames on this site legs.

http://thepatternsite.com/

As I understand it pennants are usually of a short duration, and anything over a certain time frame (3 weeks??) is typically reclassified as a symmetrical triangle.

 

[saiter]

Is it just me or are most of the formations breaking out and double topping? (See PLA, PNA, IRN, JPR..) I'm guessing this is either because the XAO is having trouble breaking through 4000 or these stocks are heading down because the XAO won't be breaking 4000...hmmmmmm

 

[skc]

TAP

 

[skc]

TWR. Two little pennants / flags in a row

 

[skc]

UXC - a little flag after retracement tagged 50%. If I speak EW I would say it's wave 3-ii developing.

 

[nomore4s]

NHC forming a nice triangle - on the verge of breaking up today but volume was low. Need to see some follow through with some decent volume now.

I hold.

 

[nomore4s]

BMN - I actually really like the look of this one.

Forming a triangle above latest breakout area with good volume attributes.

White line is old support/resistance.

 

[db96]

GXY

 

[db96]

BMN - I actually really like the look of this one.

Forming a triangle above latest breakout area with good volume attributes.

White line is old support/resistance.

BMN recently did an equity raising at an issue price of $1 per share. Raising 30Mil from institutions and 7.5 Mil from Retail. These new shares are expected to trade on the 30/06/09. This may cause a breakout below???

 

[skc]

BMN recently did an equity raising at an issue price of $1 per share. Raising 30Mil from institutions and 7.5 Mil from Retail. These new shares are expected to trade on the 30/06/09. This may cause a breakout below???

I have always wondered if this effect is real or not. If someone just bought some new equity, they can lock in profit straight away by shorting it now, rather than wait for 30 Jun to compete with other holders for the sell. But I guess some funds may not be able to short sell due to their mandate.

Can anybody give some recent examples of share price movement on the day of new shares being traded?

Purely on the chart however, it look a good legit pennant.

 

[db96]

I have always wondered if this effect is real or not. If someone just bought some new equity, they can lock in profit straight away by shorting it now, rather than wait for 30 Jun to compete with other holders for the sell. But I guess some funds may not be able to short sell due to their mandate.

Can anybody give some recent examples of share price movement on the day of new shares being traded?

Purely on the chart however, it look a good legit pennant.

BSL is one where the stock price is down on the day where the new issued shares are allowed to trade.

 

[skc]

BSL is one where the stock price is down on the day where the new issued shares are allowed to trade.

Well spotted db96.

I suspect the instos were shorting the share before they are allowed to trade hence the strong down swing 2 weeks prior to that.

 

[db96]

GDN

 

[nunthewiser]

on a weekly chart i,d be more inclined to view AOE more to the short bias ....


could be wrong but on watchy now thanks

THINKS .maybe one last puff from it perhaps creating a false break? and then a decent shortable opportunity ...like i said could be wrong 50% chance of being so but nuntheless an intresting chart nomore4,s . will be watching closely

cheers

i am a living legend

that,ll be $99.95 thanks

sunshine and lollipops

pity i didnt trade it

 

[bowman]

Two more from the resource sector.

 

[bowman]

AON held up relatively well today. If she breaks down or up I'll add to my position either way.

 

[Sean K]

Looks tastey..

 

[bowman]

Hehehe...just found FRS today

 

[Kryzz]

SRL flag

 

[skc]

SMX. Nice flag. Good fundamentals as well. DYOR.