Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,027
- Reactions
- 11,024
Outstanding Breakout Alerts!
- Thread starter tech/a
- Start date
Re: OUTSTANDING BREAKOUT Alerts!!
Hope you’re enjoying your new moderating role!
Would you mind answering my earlier question about OST please? I'm trying to work out where the line is drawn about what you think constitutes a “breakout” now that you’re moderating this thread, so that we can know fairly precisely what’s in and what’s out.
If you rate ITD as a breakout, would you agree that OST yesterday would conform to this criterion as an example?
Look forward to your response.
Kind regards
Magdoran
Hello kennas,kennas said:
Hope you’re enjoying your new moderating role!
Would you mind answering my earlier question about OST please? I'm trying to work out where the line is drawn about what you think constitutes a “breakout” now that you’re moderating this thread, so that we can know fairly precisely what’s in and what’s out.
If you rate ITD as a breakout, would you agree that OST yesterday would conform to this criterion as an example?
Look forward to your response.
Kind regards
Magdoran
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,027
- Reactions
- 11,024
Re: OUTSTANDING BREAKOUT Alerts!!
I'm not just moderating this particular thread, but just helping Joe keep an eye on ramping and other non ASF cultural behaviour throughout I suppose. Hope I don't embarrass myself.
I'm no expert on breakouts, and you probably know more about it than me. One things for certain, everyone in TA will have a slightly different interpretation of a chart. There are some pretty basic things however with 'breakouts', that we all need to keep in mind. One of them is that the stock needs to have broken out of a trend. I am on the edge a little with ITD but due to the volume, and $0.45 being a clear stumbling block (two attemps, two failures) then I see breaking through that to be very bullish. Now, some would say it needs to hold above this level for 3 days yo be a clear breakout, I'm not sure.
OST has reached a new high, beaten some resistance while chanelling up, and probably is a minor breakout, but do you think it's 'outstanding'? It's just going up and up and up.
It's had a few better breakouts on the way I think, as indicated.
I suppose what is determined as an 'outstanding' breakout must depend on how long a stock has been trending and the amount of resistance it needs to get through to break it's trend. OST looks like it's just going up, up, up, and UP to me.
Any thoughts?
Hi Magdoran,Magdoran said:
I'm not just moderating this particular thread, but just helping Joe keep an eye on ramping and other non ASF cultural behaviour throughout I suppose. Hope I don't embarrass myself.
I'm no expert on breakouts, and you probably know more about it than me. One things for certain, everyone in TA will have a slightly different interpretation of a chart. There are some pretty basic things however with 'breakouts', that we all need to keep in mind. One of them is that the stock needs to have broken out of a trend. I am on the edge a little with ITD but due to the volume, and $0.45 being a clear stumbling block (two attemps, two failures) then I see breaking through that to be very bullish. Now, some would say it needs to hold above this level for 3 days yo be a clear breakout, I'm not sure.OST has reached a new high, beaten some resistance while chanelling up, and probably is a minor breakout, but do you think it's 'outstanding'? It's just going up and up and up.
It's had a few better breakouts on the way I think, as indicated.
I suppose what is determined as an 'outstanding' breakout must depend on how long a stock has been trending and the amount of resistance it needs to get through to break it's trend. OST looks like it's just going up, up, up, and UP to me.
Any thoughts?
Attachments
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,027
- Reactions
- 11,024
Caliente
Black Gold!
- Joined
- 30 May 2005
- Posts
- 492
- Reactions
- 0
Re: OUTSTANDING BREAKOUT Alerts!!
hey kennas, let me also offer you my warm congratulations on becoming a moderator here at ASF. Your posts are always insightful and bring the facts to the table.
Best of luck here on the boards
hey kennas, let me also offer you my warm congratulations on becoming a moderator here at ASF. Your posts are always insightful and bring the facts to the table.
Best of luck here on the boards
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,027
- Reactions
- 11,024
Re: OUTSTANDING BREAKOUT Alerts!!
Hhhmmm, just how am I going to do that now??? 
Thanks Caliente, I'll still be ramping my own stocks till the cows come home! LOL.Caliente said:hey kennas, let me also offer you my warm congratulations on becoming a moderator here at ASF. Your posts are always insightful and bring the facts to the table.
Best of luck here on the boards
Hhhmmm, just how am I going to do that now??? 
- Joined
- 17 August 2006
- Posts
- 7,744
- Reactions
- 8,339
Re: OUTSTANDING BREAKOUT Alerts!!
Log in on a different computer and use an alias !!! (JK, but I bet its been done B4)
I agree with Caliente, Your posts are always infromative K, Keep up the good work .... Barney
kennas said:Thanks Caliente, I'll still be ramping my own stocks till the cows come home! LOL.
Log in on a different computer and use an alias !!! (JK, but I bet its been done B4)
I agree with Caliente, Your posts are always infromative K, Keep up the good work .... Barney
Re: OUTSTANDING BREAKOUT Alerts!!
Good on you for making the effort to help Joe, as this site has expanded, he sure needs it, and nice to see an “old hand” joining the ranks!
Now, I must say, you’ve got me stumped. I though a breakout was essentially breaking to new highs above previous resistance (or support in a bearish scenario).
This is the problem with charting, it is an interpretive art. Put 10 technical analysts in a room, and you get 100 different variations… throw in a variety of different pattern schools, wave structure, geometric, and cycle schools (not to mention planetary, momentum, oscillator, breakout styles etc and any I may have missed), and you can argue all sorts of definitions till the cows come home.
I must say though, I’m not really sure what a breakout is anymore. The Wikapedia described “breakout” as an arcade style of brick game designed by Steve Wozniak… which kind of sounds like some of the shonky technical analysis schools, doesn’t it?
But if you search further, this is the definition they give:
As far as I can see, both exceeded the previous resistance, but OST gapped up at opening and had considerable volume making a new high above established resistance. Previously it had based, broke out, based some more, broke out, and based some more, and maybe broke out yesterday as your chart shows… But this is one interpretation.
Would you accept that we really need much more direction as to what is now acceptable and constitutes a breakout please?
Good luck kennas, I think we may have opened up a can of worms here.
Perhaps we should have a session on trying to draft a definition of what constitutes a breakout for this thread, if you’d think it might help. I for one would certainly appreciate it.
Best Regards
Magdoran
Hello kennas,kennas said:
Good on you for making the effort to help Joe, as this site has expanded, he sure needs it, and nice to see an “old hand” joining the ranks!
Now, I must say, you’ve got me stumped. I though a breakout was essentially breaking to new highs above previous resistance (or support in a bearish scenario).
This is the problem with charting, it is an interpretive art. Put 10 technical analysts in a room, and you get 100 different variations… throw in a variety of different pattern schools, wave structure, geometric, and cycle schools (not to mention planetary, momentum, oscillator, breakout styles etc and any I may have missed), and you can argue all sorts of definitions till the cows come home.
I must say though, I’m not really sure what a breakout is anymore. The Wikapedia described “breakout” as an arcade style of brick game designed by Steve Wozniak… which kind of sounds like some of the shonky technical analysis schools, doesn’t it?
But if you search further, this is the definition they give:
Now, some may think this is a pretty lame definition, or needs more clarification… but you can see my point here that we really need a clear carefully spelt out definition of what exactly constitutes a breakout here given that you think OST probably doesn’t qualify because it’s just going “up and up and up”, whereas you seem to accept ITD does qualify marginally.
As far as I can see, both exceeded the previous resistance, but OST gapped up at opening and had considerable volume making a new high above established resistance. Previously it had based, broke out, based some more, broke out, and based some more, and maybe broke out yesterday as your chart shows… But this is one interpretation.
Would you accept that we really need much more direction as to what is now acceptable and constitutes a breakout please?
Good luck kennas, I think we may have opened up a can of worms here.
Perhaps we should have a session on trying to draft a definition of what constitutes a breakout for this thread, if you’d think it might help. I for one would certainly appreciate it.
Best Regards
Magdoran
Re: OUTSTANDING BREAKOUT Alerts!!
Magdoran great points! i also would like to quantify breakouts with those stocks that have broken out with expectation of news and those which have broken out with no expectation! Often the market will beat itself into a frenzy over expectations of good news only to tank after its release,
These types of breakouts are imo are misleading and should be duly noted that the stock is puffed up rather than actually breaking out !
In saying this i still realise everyone needs to dyor into price movement
Magdoran great points! i also would like to quantify breakouts with those stocks that have broken out with expectation of news and those which have broken out with no expectation! Often the market will beat itself into a frenzy over expectations of good news only to tank after its release,
These types of breakouts are imo are misleading and should be duly noted that the stock is puffed up rather than actually breaking out !
In saying this i still realise everyone needs to dyor into price movement
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,027
- Reactions
- 11,024
Re: OUTSTANDING BREAKOUT Alerts!!
From Stockcharts:
Developed by Gerald Appel, Moving Average Convergence/Divergence (MACD) is one of the simplest and most reliable indicators available. MACD uses moving averages, which are lagging indicators, to include some trend-following characteristics. These lagging indicators are turned into a momentum oscillator by subtracting the longer moving average from the shorter moving average. The resulting plot forms a line that oscillates above and below zero, without any upper or lower limits. MACD is a centered oscillator and the guidelines for using centered oscillators apply.
There is lots more info and examples at:
http://www.stockcharts.com/education/IndicatorAnalysis/indic_MACD1.html
Cheers,
kennas
ekman,ekman said:
From Stockcharts:
Developed by Gerald Appel, Moving Average Convergence/Divergence (MACD) is one of the simplest and most reliable indicators available. MACD uses moving averages, which are lagging indicators, to include some trend-following characteristics. These lagging indicators are turned into a momentum oscillator by subtracting the longer moving average from the shorter moving average. The resulting plot forms a line that oscillates above and below zero, without any upper or lower limits. MACD is a centered oscillator and the guidelines for using centered oscillators apply.
There is lots more info and examples at:
http://www.stockcharts.com/education/IndicatorAnalysis/indic_MACD1.html
Cheers,
kennas
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,027
- Reactions
- 11,024
Re: OUTSTANDING BREAKOUT Alerts!!
This from stockcharts:
Price of a security emerging from a previous trading pattern. The new price "breaks out" above the high (or below the low) trading pattern lines that enclose all other prices for that security in the preceding period. Breakouts are used by technical analysts to predict substantial upside or downside movement.
This is pretty much what you gave as well, and it doesn't necessarily have to be go to all time highs or lows. Just a significant break through a trading range and to stay out of the past trading range. That's why I believe while both examples we are discussing are so so, because they are still in a long/medium term trading range although broken to new highs. So, perhaps there are short term breakouts from a short term trading range, which I believe are less 'outstanding' and those from a long term range where there is significant resistance, therefore qualifying them as 'outstanding'? It's up to us to judge what is outstanding or not and as long as something fits the general definition it's up for discussion.......
Fully agree on the interpretive art comment. I don't agree with myself sometimes.
Magdoran, I think the definition you quoted is fine and fits with the definition I gave at the start of the 'potential breakout alert' thread.Magdoran said:
This from stockcharts:
Price of a security emerging from a previous trading pattern. The new price "breaks out" above the high (or below the low) trading pattern lines that enclose all other prices for that security in the preceding period. Breakouts are used by technical analysts to predict substantial upside or downside movement.
This is pretty much what you gave as well, and it doesn't necessarily have to be go to all time highs or lows. Just a significant break through a trading range and to stay out of the past trading range. That's why I believe while both examples we are discussing are so so, because they are still in a long/medium term trading range although broken to new highs. So, perhaps there are short term breakouts from a short term trading range, which I believe are less 'outstanding' and those from a long term range where there is significant resistance, therefore qualifying them as 'outstanding'? It's up to us to judge what is outstanding or not and as long as something fits the general definition it's up for discussion.......
Fully agree on the interpretive art comment. I don't agree with myself sometimes.
Re: OUTSTANDING BREAKOUT Alerts!!
HCY Seems to be Running on News
Depths Look Good and moving
53M traded already
Potential New Copper Zones at Mt Pleasant
http://www.asx.com.au/asxpdf/20061221/pdf/3108470b6b5kt9.pdf
HCY Seems to be Running on News
Depths Look Good and moving
53M traded already
Potential New Copper Zones at Mt Pleasant
http://www.asx.com.au/asxpdf/20061221/pdf/3108470b6b5kt9.pdf
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
Re: OUTSTANDING BREAKOUT Alerts!!
MMB going going gone!
From 12c 5 days ago to a high today of 49c!
MMB going going gone!
From 12c 5 days ago to a high today of 49c!
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,027
- Reactions
- 11,024
Re: OUTSTANDING BREAKOUT Alerts!!
Holy cow! What did they discover? Cold Fusion?
YOUNG_TRADER said:MMB going going gone!
From 12c 5 days ago to a high today of 49c!
Holy cow! What did they discover? Cold Fusion?
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,126
- Reactions
- 5,479
Re: OUTSTANDING BREAKOUT Alerts!!
MMB
MEE SP has jumped 10% today to 0.095
Metex Resources Ltd (ASX:MEE) is pleased to advise Shareholders of an announcement made this morning (18Dec 2006) by Magma Metals Ltd (ASX:MMB). Metex holds 10 million shares in Magma, which represents approximately 17% of the total issued capital of Magma.
MMB
MEE SP has jumped 10% today to 0.095
Metex Resources Ltd (ASX:MEE) is pleased to advise Shareholders of an announcement made this morning (18Dec 2006) by Magma Metals Ltd (ASX:MMB). Metex holds 10 million shares in Magma, which represents approximately 17% of the total issued capital of Magma.
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
Re: OUTSTANDING BREAKOUT Alerts!!
Kennas has posted a magnificent breakout chart on the AEE thread to-day. Please review the commentary on that thread. IMHO this one is still very "early days" and should do well.
Kennas has posted a magnificent breakout chart on the AEE thread to-day. Please review the commentary on that thread. IMHO this one is still very "early days" and should do well.
- Joined
- 8 November 2006
- Posts
- 82
- Reactions
- 0
Re: OUTSTANDING BREAKOUT Alerts!!
HFA
Broke above $2.00 to close at $2.05. I think it's quite outstanding, given that it has spent close to two months going sideways between $1.90 and $2.00. Also, if you have a look at the candle chart, the precisely $2.00 level has been a huge barrier - almost as though it's like some big psychological thing.
It broke on no news/announcements, which adds to the 'outstanding' factor. However, it's done so on not so fascinating volume. What does this mean (if anything)? Is it like a false breakout?
HFA
Broke above $2.00 to close at $2.05. I think it's quite outstanding, given that it has spent close to two months going sideways between $1.90 and $2.00. Also, if you have a look at the candle chart, the precisely $2.00 level has been a huge barrier - almost as though it's like some big psychological thing.
It broke on no news/announcements, which adds to the 'outstanding' factor.
However, it's done so on not so fascinating volume. What does this mean (if anything)? Is it like a false breakout?Similar threads
