It's generally going up in a channel still, but I'd say yes because it's broken all time highs. And big volume, MACD turned up. Looks good.ekman said:Does ITD fit this category?
Hello kennas,kennas said:It's generally going up in a channel still, but I'd say yes because it's broken all time highs. And big volume, MACD turned up. Looks good.
Hi Magdoran,Magdoran said:Hello kennas,
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
And looking at it on a 3 month chart, while it's broken some resistance at $4.65ish, is it really an 'outstanding breakout'. Looks like just a little consolidation in an uptrend maybe?? Volume lends towards a break.Magdoran said:Hello kennas,
If you rate ITD as a breakout, would you agree that OST yesterday would conform to this criterion as an example?
Magdoran
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
kennas said:Thanks Caliente, I'll still be ramping my own stocks till the cows come home! LOL.Hhhmmm, just how am I going to do that now???
Hello kennas,kennas said:And looking at it on a 3 month chart, while it's broken some resistance at $4.65ish, is it really an 'outstanding breakout'. Looks like just a little consolidation in an uptrend maybe?? Volume lends towards a break.
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.Breakout (technical analysis):
A breakout is when prices pass through and stay through an area of support or resistance.
1.A security represents the fair market value as agreed between buyers and sellers i.e. bulls and bears.
2.Change in the prices are the results change in investors expectations of securities future price.
3.Support level occurs when bulls take control of price move and not allow security prices to go down.
4.Resistance level occurs when the bears take control of the price move and not allow the security prices to move up.
5.The penetration of support level or resistance level indicates change in investors expectation and shift in supply demand line. i.e. whenever support level get penetrated it become resistance level and vice versa
ekman,ekman said:Kennas - thansk for your insight in ITD. BTW what is MACD
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:Hello kennas,
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.
Would you accept that we really need much more direction as to what is now acceptable and constitutes a breakout please?
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.
Magdoran
YOUNG_TRADER said:MMB going going gone!
From 12c 5 days ago to a high today of 49c!
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