Potential Breakout Alerts!

[juddy]

Re: POTENTIAL BREAKOUT Alerts

I think this can be an extremely valuable thread if used properly. It might be a little difficult programming wise, but could a template be made for this thread that simply lists the following subtitles; Share code, TA explanation, Chart? The poster can then fill in details under these headings. This template should discourage any detour from the standardised format.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Ok i've tried to attach a chart of esg so hope it works ok. Looks to be forming an ascending triangle, any thoughts would be very much appreciated. Thanks

I'd call this a pole with a pennant hanging off it, in an upward trend. Bullish.

(not really ascending, looks equilateral actually. Ascending would have the lows getting higher while the highs more horizontal)

I have a target on a breakout from this formation of $0.33 ish. (about the length of the pole)

Now, for this to be a potential breakout (up or down) it needs to start moving out of this trading range (up or down). I have found this very difficult, because stocks can have a good or bad day, look like they're breaking only to pull back in again. If this starts to break wither side of the blue line (support and resistance) then there's every chance it could go in that direction.

To be then classified as a 'breakout' the sp needs to break through the top or bottom of the first couple of bars in the pennant. That would be about $0.30 (break up) and $0.26 ish (break down).

So, since this is a pennant in an upward trend then there is more likelihood of the break going up. However, on the formation alone, it hasn't started to move either way. If it breaks through the green line I'd say it's gaining more potential.

On a fundamental point of view Roxy, why is this going up anyway, and why should it break up now. Is there a contract to be gained? New exploration results coming out?

 

[SevenFX]

Re: POTENTIAL BREAKOUT Alerts

Thanks K.

If I may ask, is the size of the pennant and/or pole signifiant to the breakout size, and notice the volume has fallen accordingly.

SevenFX

 

[wahoo]

Re: POTENTIAL BREAKOUT Alerts

KZL

nice little penant formed (plus they've just got copper production at Thalanga up and running. Ann last night)

 

[Wilson!]

Re: POTENTIAL BREAKOUT Alerts

IMA

Up 15c

I place this here as a big announcement has just come out - their drilling indicates their HM channels increases now from 7km to 50kms

The region turns over $900m a year in production here.
Not a TA b/o, but hopefully of value to anyone

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

KZL
nice little penant formed (plus they've just got copper production at Thalanga up and running. Ann last night)

It's a nice pennant, or triangle, in a long term upward trend, but the MACD is pointing down, making me less confident in the next move.

I agree this may be a potential breakout, but which way?

Since it's zinc, and many people seem bullish on zinc still, then perhaps it's up? Price action either way will, of course, show us. Once it starts moving outside the support and resistance lines indicated then we'll have a better idea. A break above or below the red lines would be an official breakout either way IMO.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

IMA

Up 15c

I place this here as a big announcement has just come out - their drilling indicates their HM channels increases now from 7km to 50kms

The region turns over $900m a year in production here.
Not a TA b/o, but hopefully of value to anyone

Maybe. Breaking through $2.00 will definately be a break up from this 2 month trading range. Short MACD line has turned and is about to cross. Could come back too.....

 

[Wilson!]

Re: POTENTIAL BREAKOUT Alerts

I agree kennas, from a TA point it could, but news out should make it go the other way one would think
But it always depends on the market of course

 

[Wilson!]

Re: POTENTIAL BREAKOUT Alerts

MMB

Open 27c
High 54c

Now 49.5

 

[Morgan]

Re: POTENTIAL BREAKOUT Alerts

The starting of this thread is probably a good place for me to pose a tactic I have been considering lately.
Having had some horrible experiences buying at the "top", does anyone consider the use of a conditional trading "buy gain trigger" (available from some online brokers) in order to catch potentail breakouts? Could also be good for those of us that don't have time to be looking at watchlists all day.
A buy gain trigger could be set at just above the current price action, allowing you to get in should the stock breakout while you are not looking.
This could also be used to 'follow down' a favourite stock that is having a retrace. eg in the case of BMN at present, a buy gain trigger could be set that made sure you did not miss any rebound. If the price continues to fall, either cancel the trigger, or progressively lower the trigger price.

 

[noobs]

Re: POTENTIAL BREAKOUT Alerts

UNX just broke through todays 1.23c resistance and could well gap up tomorrow. Bring on the blue sky

Ps check out my posts in the UNX thread for some more info on this one

 

[greggy]

Re: POTENTIAL BREAKOUT Alerts

Well, it's been suggested a few times under various headings, but I thought I'd start this to see where it goes.

All those people who have been watching a stock and can see that it might be about to breakout now have a place to put it. Of course, this can not just be an opportunity to ramp your stock, and I suggest there must be some logic and analysis behind your pick. A chart would almost seem essential.

Obviously, punters who place a stock on this thread, only to find their stock gets smashed and never actually breaks out is going to come under scrutiny. So, be prepared to be analysed yourself!

I don't actually have a stock to kick it off, but will do some searching and get back to you.

Kennas,

You're taking a tough but fair approach to this thread. Its good to see.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Maybe. Breaking through $2.00 will definately be a break up from this 2 month trading range. Short MACD line has turned and is about to cross. Could come back too.....

Wilson, I reckon you're on to one here. It didn't get through $2.00 today, but on the volume and the MACD I'd say there's a high probability of this breaking through and we can tranfer it to the OUTSTANDING BREAKOUT Alert thread. One thing I think that adds to this breaking UP as opposed to down is the tails on the candles bouncing off $1.75 during the consolidation phase. Plenty of buying support everytime it dips.....

It's still risky, but hey, life is a gamble.

Fhew!, going out on a limb here, it's bound to crash now! Or, it might take a few more days to break, but I reckon it looks positive.

As always, DYOR, we all get it wrong.

Will be interesting to see how it goes. Might depend on overall market tonight.

Last trading day before Christmas tomorrow might be a factor too. Perhaps punters will be taking profits to spend on beer.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

KZL
nice little penant formed (plus they've just got copper production at Thalanga up and running. Ann last night)

It's still in the trading range tonight after going off a couple of %.

Is this at the mercy of POZ? This may be an overriding factor in the sp perhaps. Hasn't zn stalled the past 6 ish weeks? Perhaps that explains this?

Anyway, just thought I'd update the chart today to see where the 'potential' is going. No where yet.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Wilson, I reckon you're on to one here. It didn't get through $2.00 today, but on the volume and the MACD I'd say there's a high probability of this breaking through and we can tranfer it to the OUTSTANDING BREAKOUT Alert thread. One thing I think that adds to this breaking UP as opposed to down is the tails on the candles bouncing off $1.75 during the consolidation phase. Plenty of buying support everytime it dips.....

It's still risky, but hey, life is a gamble.

Fhew!, going out on a limb here, it's bound to crash now! Or, it might take a few more days to break, but I reckon it looks positive.

As always, DYOR, we all get it wrong.

Will be interesting to see how it goes. Might depend on overall market tonight.

Last trading day before Christmas tomorrow might be a factor too. Perhaps punters will be taking profits to spend on beer.

With commods off 2% ish and the general market off, there's some doubt in my mind this breaking through today, unless it delivers outstanding news, which I don't think is on the cards.

 

[Kipp]

Re: POTENTIAL BREAKOUT Alerts

Mr. Kennas,
Kinda feel bad about asking ANOTHER question fo you- as this thread is starting to feel like a prep class. But I'm sure any chartist could field it. Would this patten in MGX highlighted be classified as a cup and handle?

And part 2. The reason for slapping MGX in here. Is it looks like a potential breakout. Up 3c on strong volume on Friday.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

ESG potential breakout update id by roxy.

Still ranging sideways but the MACD looks to have turned down. Odds on it perhaps falling down from the range. But still one to watch.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

KZL update on potential breakout by wahoo.

Looks like it fell down out of the range. Possible breakdown.....

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

IMA update on potential breakout id by wilson.

Still ranging, but MACD turned up. Perhaps momentum with the upside. Still one to watch.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Would this patten in MGX highlighted be classified as a cup and handle?

And part 2. The reason for slapping MGX in here. Is it looks like a potential breakout. Up 3c on strong volume on Friday.

I know what you're saying about the C&H kipp and it's vaguely there. Just. Ideally you want a nice steady fall and rise with a rounded bottom. Not V shaped. The handle would be better consolidating more sideways as opposed to too steeply down.

I think what you saw was actually the breakout, and it has definately continued up. Well picked. Not much more 'potential' for a breakout though. Hope you were on it??