Potential Breakout Alerts!

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

I qualify the above. Seems the shorter term resistance will be more around 63 ish. So, potential breakout between 55 and 63, then breakout at 65 IMO.

SBM failed once again at 65 making that level even more difficult to break. I think POG stifled this one unfortunately.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

CUY is going to benefit from the Labor U decision. Looks set to break this short term consolidation IMO.

From South Australian Uranium Explorers doc:

Curnamona Energy Ltd (CUY)
60m shares @ $2.53 = $151m

Havilah own 50.6%.

Curnamona region of SA containing Lake Frome is highly prospective for U containing Beverley, Oban, Gould’s Dam, and Honeymoon. Has very large tenements to the N, E and S of Frome with well defined palaeochannels running through.

Oban deposit in Curnamona seems to have economic deposit but hasn't a defined JORC yet.

Announced on 13 April that Oban Field Leach Trial set to proceed. If successful they are going to seek further approvals to mine and export uranium.

This seems well advanced compared to other U players, even though there’s no JORC.

Market cap might be getting up there, but SA focus might be the catalyst for breakout from short term consolidation. Had a pretty good run though....

 

[Peakey]

Re: POTENTIAL BREAKOUT Alerts

THX looking bullish, has passed through previous high of .575. Needs to close strong to confirm the continuation breakout.

Originally broke out at .50 then hit .575, retraced back to .50, now looking to march forward.

 

[Ruprect]

Re: POTENTIAL BREAKOUT Alerts

SRZ - now above 40cents, heavy trade in last hour coming after very positive share placement announcement and ALP uranium decision.

 

[YOUNG_TRADER]

Re: POTENTIAL BREAKOUT Alerts

SRZ as mentioned, doing the hard yards to clear 40c, but with JV partner TOE releasing some good Uranium results on their Sth Aust based Warrior deposit could go outstanding once SRZ announces

YML Huge volume for this stock and not traders but rather accumulators based on Patersons Research Report, valuation target of 40c, close to all time high of 33c, could become outstanding very quickly

 

[Uranium]

Re: POTENTIAL BREAKOUT Alerts

Good morning,

I beleive agy today will break out because the the updated news sent it spiralling downwards whithout justification and for the long term i think it is a promising stock to hold.IMO

Dom

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Good morning,

I beleive agy today will break out because the the updated news sent it spiralling downwards whithout justification and for the long term i think it is a promising stock to hold.IMO

Dom

Breakout of what Dom? Breakout of freefall? Hope you had a parachute. 45 cents is the next support level. Hope it turns around sooner than that for you.

PS, please don't post non 'potential breakouts' in this thread. Please read the first few posts in this thread to undertand the reason for it's existance. Thanks.

 

[paperclip]

Re: POTENTIAL BREAKOUT Alerts

kennas can u post an AUZ chart please

 

[svensk]

Re: POTENTIAL BREAKOUT Alerts

Possibly aae?

In a long term downtrend, and has recently (over the past two days) punctured through resistance and the upper bollinger band with high volume. MACD looks decent too. Can't post a chart atm, as I'm on a public pc, but any comments would be welcome. What else would be required to confirm a break of the prevailing downtrend?

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

kennas can u post an AUZ chart please

This might have broken up already. Not too sure how much resistance there will be at 11. There may have only been a few buys there at the previous spike. Support at 9, until 9.8 ish is tested and confirmed. Indicators are pretty bullish. Looks good, but may fail if the overal market falls back in comming days/weeks.

 

[YOUNG_TRADER]

Re: POTENTIAL BREAKOUT Alerts

MGO consolidated nicely around 27c and is now looking to break up through 30c on volume in anticipation of a new jorc (see thread for more info)

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

INL has pushed up quite quickly to break down trend resistance line. Could be classed as a 'breakout' perhaps, but wouldn't be outstanding until it breaks horizontal resistance at 20 IMO. There was a false break in Feb which was halted due to the correction. Hopefully it doesn't happen again to this and it runs. I'm waiting for confirmed break through 20 before being too tempted.

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

NWE finished OK and has had 2 of it's better days in recent weeks. Somehow broke out of the .175 - .185 range to finish on it's high of .195. Indicators are all lined up to say it's going to break up, IMO. (subject to Mr DOW probably.)

(holding)

 

[nizar]

Re: POTENTIAL BREAKOUT Alerts

NWE finished OK and has had 2 of it's better days in recent weeks. Somehow broke out of the .175 - .185 range to finish on it's high of .195. Indicators are all lined up to say it's going to break up, IMO. (subject to Mr DOW probably.)

(holding)

Kennas.
Im waiting for this to close above 20.
This has had an even skinnier candle before on even bigger volumes and got knocked back, and no, there was no correction that time, it was just being a dog, LOL.
Poor market sentiment for some reason.
Hopefully that will change soon.
This should be a 30c stock based on fundamentals.

 

[chops_a_must]

Re: POTENTIAL BREAKOUT Alerts

Kennas.
Im waiting for this to close above 20.
This has had an even skinnier candle before on even bigger volumes and got knocked back, and no, there was no correction that time, it was just being a dog, LOL.
Poor market sentiment for some reason.
Hopefully that will change soon.
This should be a 30c stock based on fundamentals.

Yes yes, but we know why that is, don't we?

To me, the chart looks much stronger this time, it's not extending itself up to resistance, just acting strongly on it and hopefully through it tomorrow. And the overt resistance looks largely gone as well because of this.

This is on a lot of people's watchlists, a heap of people from the forums own it, and most would know what roughly the fair value is. I expect that now the sellers are largely gone, anyone having left the stock will have to get back in at a time where sellers are scarce.

Anyway, now the downside risks have all but been taken out, the underlying pressure is definitely up. And as some have labelled this on other forums as "the biggest no brainer on the ASX", I'm very confident it will do well.

Cheers.

 

[Chorlton]

Re: POTENTIAL BREAKOUT Alerts

This might have broken up already. Not too sure how much resistance there will be at 11. There may have only been a few buys there at the previous spike. Support at 9, until 9.8 ish is tested and confirmed. Indicators are pretty bullish. Looks good, but may fail if the overal market falls back in comming days/weeks.

Hello Kennas,

Nice charts !!! Can I ask which software you use? It looks like Sharescope but I'm not too sure...

Additionally, could i ask a couple of questions regarding your strategy, if thats ok?

1) When looking for these "breakout" set-ups, do you eyeball the charts or do you reply of some form of scanner to find these patterns?

2) When you decide to enter a position, do you an exit price already established and if so, can I ask how you would calculate this??

Many Thanks,

Chorlton

PS. Keep up the excellent posts....

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Hello Kennas,

Nice charts !!! Can I ask which software you use? It looks like Sharescope but I'm not too sure...

Additionally, could i ask a couple of questions regarding your strategy, if thats ok?

1) When looking for these "breakout" set-ups, do you eyeball the charts or do you reply of some form of scanner to find these patterns?

2) When you decide to enter a position, do you an exit price already established and if so, can I ask how you would calculate this??

Many Thanks,

Chorlton

PS. Keep up the excellent posts....

Hi Chorlton,

I use Bigcharts and the indicators come with them. You can add any you like to the chart. It's free.

I don't scan any charts mechanically, I just 'eyeball' them. I try to follow my my entire watchlist, which is about 100 stocks. I put them on the list for a variety of reasons. Most I have found here on ASF.

Once a chart is forming some sort of pattern, and getting closer to a position where it might breakout of that pattern, I make note of it and then continue to watch it more closely until is on the cusp.

The patterns I usually look, amongst others, are Cups and Handles, Head and Shoulders, Pennents, Flags, Obvious channel trends, and stocks that respond to support and resistance points consistently. The indicators I like to all line up for a 'buy' are MACD, Stochastic, and RSI. Volume is sometimes important when looking for a breakout, but it's not always there.

I obviously like candle sticks and I don't use OHLC at all, as I can see the same properties of the chart on the candle stick. Plus, I prefer some colour. I think most chartists prefer OHLC actually.

My current exit strategy is very poor, and it's something I need to sort out. It's where traders usually fail, and I am just learning this really. It's not yet in the business plan. It's pretty discretionary actually. It currently varies depending on the market conditions and the stock. I used to just set a sell at 20% gain but found I missed out on some profits doing this. I also used to sell all my position, but I'm more flexible now and may just seel some of my position depending on the stock and the market.I also look at resistance lines more and will sell sometimes as a stock is moving close to one, especially if it is strong. I will also follow the indicators and if the say the stock is still strong and not overbought and is not approaching a resistance line there's no reason to sell. It also depends on where the overall market is. If I think its very toppy, I don't hold positions for very long. Anyway, I'm sorry, I'm rambling a bit. Obviously, my exit strategy is under construction, and I need to read some more Van Tharp.

All the best,
kennas

 

[Chorlton]

Re: POTENTIAL BREAKOUT Alerts

Hi Chorlton,

I use Bigcharts and the indicators come with them. You can add any you like to the chart. It's free.

I don't scan any charts mechanically, I just 'eyeball' them. I try to follow my my entire watchlist, which is about 100 stocks. I put them on the list for a variety of reasons. Most I have found here on ASF.

Once a chart is forming some sort of pattern, and getting closer to a position where it might breakout of that pattern, I make note of it and then continue to watch it more closely until is on the cusp.

The patterns I usually look, amongst others, are Cups and Handles, Head and Shoulders, Pennents, Flags, Obvious channel trends, and stocks that respond to support and resistance points consistently.

I obviously like candle sticks and I don't use OHLC at all, as I can see the same properties of the chart on the candle stick. Plus, I prefer some colour. I think most chartists prefer OHLC actually.

My current exit strategy is very poor, and it's something I need to sort out. It's where traders usually fail, and I am just learning this really. It's not yet in the business plan. It's pretty discretionary actually. It currently varies depending on the market conditions and the stock. I used to just set a sell at 20% gain but found I missed out on some profits doing this. I also used to sell all my position, but I'm more flexible now and may just seel some of my position depending on the stock and the market.I also look at resistance lines more and will sell sometimes as a stock is moving close to one, especially if it is strong. I will also follow the indicators and if the say the stock is still strong and not overbought and is not approaching a resistance line there's no reason to sell. It also depends on where the overall market is. If I think its very toppy, I don't hold positions for very long. Anyway, I'm sorry, I'm rambling a bit. Obviously, my exit strategy is under construction, and I need to read some more Van Tharp.

All the best,
kennas

Hi Kennas,

Thanks for the reply and I hope you don't mind further questions...



"...I obviously like candle sticks and I don't use OHLC at all, as I can see the same properties of the chart on the candle stick. Plus, I prefer some colour. I think most chartists prefer OHLC actually. .."

Can you clarify what you mean here? As the candlestick presents OHLC information, albeit in a more visual form to say basic bars, do you mean that you are only interested in the "pattern" of the candlestick??

Also, regarding Breakouts, do you trade them as they break-out of their current range or do you wait for a possible pullback to improve your R:R??
From observations, what percentage would you say continue upwards with no pullback???

Again, Just interested as I've never used this type of strategy even though I believe it's v.popular..

Finally, You mentioned that you look at the indicators for whether a stock is oversold/overbought. Can I ask what timeframe you would, on average, hold a position open? As a heavily trending stock can indicate oversold/overbought for a long period, how reliable do you find it with regard to your strategy for exiting a trade?

Hope you don't mind the questions, but i'm just curious.....

All the best,

Chorlton

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

Chorlton will PM you tomorrow. Cheers! kennas

 

[Chorlton]

Re: POTENTIAL BREAKOUT Alerts

Chorlton will PM you tomorrow. Cheers! kennas

No worries...... Thanks in advance for taking time out to reply


All the best..........