Potential Breakout Alerts!

[Nortorious]

View attachment 61340

I very much like the look of how this one is setting up Pav. Thanks for the heads up.

If it can clear 0.235 and hold above that level by the end of the week, it will be worth a purchase on Monday. I'd be thinking this could run fairly easily up towards 0.45ish and then beyond that towards a $1.

It's on the watchlist and front of mind... Stop would be fairly wide on this initially as it is a bit of a initial breakout setup but based on the action, the trailing stop would be adjusted fairly quickly to tighten up the "at risk" component.

 

[Nortorious]

Currently in this one. Didn't take off as hoped. But could be good if it breaks higher.

View attachment 61342

Another one that I like the look of Pav. Checking out the background and seeing the huge base that this has developed, be patient as this should go quite well. It's probably worth a punt and I might go half my position size now and then another half once it pushes back above 0.08. Looks good though...

How are you identifying these? What scans are you running in TG?

 

[Nortorious]

View attachment 61343

Not a huge wrap for PAN as it is still below its 30 week moving average but the background volume makes for an interesting story.... just depends what the next few pages and chapters say....

 

[pavilion103]

Another one that I like the look of Pav. Checking out the background and seeing the huge base that this has developed, be patient as this should go quite well. It's probably worth a punt and I might go half my position size now and then another half once it pushes back above 0.08. Looks good though...

How are you identifying these? What scans are you running in TG?

Scan in Amibroker for these. Very basic. Something like highest high for x-number of days. Minimum requirement of x liquidity.

Then I go back and scan the previous week so I see ones making highs, having volume AND then consolidating for 2-3 days before they are ready to break higher again.

 

[Nortorious]

Scan in Amibroker for these. Very basic. Something like highest high for x-number of days. Minimum requirement of x liquidity.

Then I go back and scan the previous week so I see ones making highs, having volume AND then consolidating for 2-3 days before they are ready to break higher again.

I like it!

I basically do something similar but am looking for historical higher highs (continuation breakout setups) and also those that have based and look to be in an initial breakout.

Most of my scanning is done using tradeguider and basically using my eye to quickly jot down stocks of interest as it goes through an RSI scan. Not overly scientific but seems to be picking up decent stocks to shortlist for further investigation.

 

[futurenow]

I very much like the look of how this one is setting up Pav. Thanks for the heads up.

If it can clear 0.235 and hold above that level by the end of the week, it will be worth a purchase on Monday. I'd be thinking this could run fairly easily up towards 0.45ish and then beyond that towards a $1.

It's on the watchlist and front of mind... Stop would be fairly wide on this initially as it is a bit of a initial breakout setup but based on the action, the trailing stop would be adjusted fairly quickly to tighten up the "at risk" component.

SBM. 0.230 today. I'll be watching this over the next few days.

 

[Nortorious]

SBM. 0.230 today. I'll be watching this over the next few days.

Good stuff. I think it hit an intraday high of 0.24, watch for the close tomorrow. If it can close at 0.24, might be worth a trade on Monday...

 

[pavilion103]

I'm in now too.

 

[tech/a]

Yes like SBM on the weekly

and another on the weekly as well RRL

 

[pavilion103]

It seems like the market doesn't want to fall at the moment. If this pushes higher it could be a great time to be on some of these stocks.

I've got orders on a few of these.

That RRL is interesting Tech. When you get such a nice accumulation base on the weekly it makes the trade worth the risk because it could really move over time.

I'm hoping that the market does push up because I'd love to follow some of these setups more closely.

 

[futurenow]

SBM down 10%. Hmmmm.

 

[pavilion103]

Yep down 2 cents.
Let's see if it holds.

 

[Gordon7]

SBM down 10%. Hmmmm.

SBM like RRL mentioned below are both Gold stocks which I find are more difficult to trade technically or by the chart than say Industrial stocks, because they are heavily influenced by overnight movements in the price of gold and to a smaller degree the $A.

Gold fell just under 2% overnight yet the movement in your average gold stock is greater.

 

[Boggo]

EGP has been thinking about it all week, finally showing potential today.

MLX is still thinking about poking its head up.

Chart of EGP below (click to expand)

 

[Nortorious]

SBM down 10%. Hmmmm.

Basically the reason I am not in yet.... If it can't break 24c (and by that à mean closing out a week above 24c) it could reverse and head south pretty quickly.

 

[notting]

Re SBM Got out of my short at 20.5 after you guys and Putin flying war jets around British air space freaked me out a bit.
Gold looks like it wants to test 1240.
Get rid of the rest about there and see what happens.

 

[Nortorious]

Re SBM Got out of my short at 20.5 after you guys and Putin flying war jets around British air space freaked me out a bit.
Gold looks like it wants to test 1240.
Get rid of the rest about there and see what happens.

Wow shorting this stock! Braver soul than me at the current levels and what's showing up on the charts. Without it being able to break the 24c mark, it could be a very profitable short. Could go either way at this point in time though.....

Price action needs to show some clarity for the future direction before I put my hard earned into this one....

 

[notting]

Wow shorting this stock! Braver soul than me at the current levels and what's showing up on the charts. Without it being able to break the 24c mark, it could be a very profitable short. Could go either way at this point in time though.....

Price action needs to show some clarity for the future direction before I put my hard earned into this one....

It's an unusual strategy but safer than you might think.
It relies on an over exuberant run up on a price taking company where the commodity looks to be stalling and the stocks have run up way harder than the underlying commodity in percentage terns and the environment is still long and medium term bearish.
It's not that brave because, it takes into account the overhead resistance/breakout yet to be over come.
Your last line is the parachute.

Knowing that traders will be looking for clarity allows for a margin of safety, when they get that clarity I would be out. So until then the short is fairly safe and has much short term downside potential. Just a slight blip down in the commodity will make them all fall over dramatically, where half or all profits will be taken.

I shorted about 6 on their peaks which I anticipated the day before.
Gold went down a little and they all fell between 6% 16% in two days!
I still have 3 which I have taken some profits on and I went long on two after that.

I also shorted IGO which I didn't make anything on but didn't lose. I still have a tiny bit short on it which will be closed out. It's doing it's own thing. A good one perhaps for longer term hold long if gold remains where it is or goes up.

So not that brave!

 

[Nortorious]

It's an unusual strategy but safer than you might think.
It relies on an over exuberant run up on a price taking company where the commodity looks to be stalling and the stocks have run up way harder than the underlying commodity in percentage terns and the environment is still long and medium term bearish.
It's not that brave because, it takes into account the overhead resistance/breakout yet to be over come.
Your last line is the parachute.

Knowing that traders will be looking for clarity allows for a margin of safety, when they get that clarity I would be out. So until then the short is fairly safe and has much short term downside potential. Just a slight blip down in the commodity will make them all fall over dramatically, where half or all profits will be taken.

I shorted about 6 on their peaks which I anticipated the day before.
Gold went down a little and they all fell between 6% 16% in two days!
I still have 3 which I have taken some profits on and I went long on two after that.

I also shorted IGO which I didn't make anything on but didn't lose. I still have a tiny bit short on it which will be closed out. It's doing it's own thing. A good one perhaps for longer term hold long if gold remains where it is or goes up.

So not that brave!

Upon reflection and reading your description.... brilliant!

Well played and great work!

 

[tech/a]

Had his call been at 6.49 AM and not PM

It would have been impressive.
Hind site is always impressive