Potential Breakout Alerts!

[MRC & Co]

Re: POTENTIAL BREAKOUT Alerts

MRC,

Bearish wedges break horizontal support not horizontal resistance. Technically it is an ascending triangle (sticking to terminology) that is not in a continuation and it could fail - agreed there.

Snake, that pic is forming higher highs, albeit, at a lesser degree than the higher lows. Hence, technically, a bearish wedge (and a very good pattern I like). No way on earth I could call that as an ascending triangle, there is no horizonal resistance.

Yes, more likely to break support through the lower trendline (not horizontal).

 

[It's Snake Pliskin]

Re: POTENTIAL BREAKOUT Alerts

Snake, that pic is forming higher highs, albeit, at a lesser degree than the higher lows. Hence, technically, a bearish wedge (and a very good pattern I like). No way on earth I could call that as an ascending triangle, there is no horizonal resistance.

Yes, more likely to break support through the lower trendline (not horizontal).

Mrc,
I see what you are referring to now. I call them rising wedges (as does Curtis Arnold and many others) not bearish wedges even though they are bearish patterns. So yes if we draw a line using the extreme tops of the highs then we have a slight upward movement in the top line. Considering we have a bear (bigger) trend it is in context to breakdown.

However, it could be argued that it is an ascending triangle consolidating price for a break to the upside. I have determined support and resistance which confirms the wedgy looking triangle not the triangle determining support and resistance which is most common. Either way, a break of my resistance (according to my paradigm) and the result of a breakdown will tell the story.

Cheers..
Discussion only and not advice. Do your own research and learn your own trading style.

 

[MRC & Co]

Re: POTENTIAL BREAKOUT Alerts

Snake, how can you draw a horizontal resistance through a pattern which is clearly making higher highs? Where is the breakout point? Sort of defeats the entire purpose of trendlines and trend structure IMO.

 

[It's Snake Pliskin]

Re: POTENTIAL BREAKOUT Alerts

Snake, how can you draw a horizontal resistance through a pattern which is clearly making higher highs? Where is the breakout point? Sort of defeats the entire purpose of trendlines and trend structure IMO.

MRC, I am unable to highlight it anymore than my previous post. But I totally see your point of view and agree with it to switch paradigms.
Cheers..

 

[bankit]

Re: POTENTIAL BREAKOUT Alerts

Hi All,

MIN is at a make or break stage today. It opened at $2.55 but has dropped back to $2.47 at the time of writing so it is not all that strong.

Worth keeping an eye on but we need to see a close above $2.56 with volume for a low risk entry.

Bankit

 

[bankit]

Re: POTENTIAL BREAKOUT Alerts

Hi All,

CCV is also at a make or break stage today. It opened at 32 cents, made a high of 34 and has settled back at 33 cents.

Worth keeping an eye on but we need to see a close above 33 cents with volume for a low risk entry.

The consolidation pattern that has formed looks like a mid-point consolidation which would project an initial target of 43 cents and this also ties in with the fib and chart resistance at that level.

Bankit

 

[Boggo]

Re: POTENTIAL BREAKOUT Alerts

IPL:
Alright forum goers, it is time to get into defensive stocks, that are cheap and have had a number of years with good Dividend payments, and to top it all off has just recently had an increase in volume and a short term break out today, looking at a medium term break of $2.80. This graph is looking like there is something going on, maybe they are going to pay another good dividend like $2 or something. Interested in seeing what everybody else has got to say.
Kind regards
Gabie

Its making another attempt at 2.79, struggling to get past 2.78 at the moment, its been holding up well in a negative market.

(click to expand)

 

[Ashsaege]

Re: POTENTIAL BREAKOUT Alerts

MPO has been doing well this year. Finished well yesterday and looks to be continuing positively.
I've attached a chart, but would greatly appreciate some one to show a better one with a decent explanation!

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

MPO has been doing well this year. Finished well yesterday and looks to be continuing positively.
I've attached a chart, but would greatly appreciate some one to show a better one with a decent explanation!

Potential break up through the 90 resistance zone, yes. Making some higher lows. Volume looks higher over the past month.

 

[S73417H]

Re: POTENTIAL BREAKOUT Alerts

QBE pushing a three year low right now. Waiting for a trend reversal but looks to be quite oversold atm. Any chartists been following this one?

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

QBE pushing a three year low right now. Waiting for a trend reversal but looks to be quite oversold atm. Any chartists been following this one?

Um, this is the potential breakout thread, not the reversal or oversold thread...

But I agree, $20 ish is long term support. Might find a floor around there, or just crumble along with the rest of the market. So, could go up, down, or sideways ...

 

[Boggo]

Re: POTENTIAL BREAKOUT Alerts

I think they are reporting later this week, the inside money will have priced in the new value by the time the report comes out.

 

[S73417H]

Re: POTENTIAL BREAKOUT Alerts

Um, this is the potential breakout thread, not the reversal or oversold thread...

But I agree, $20 ish is long term support. Might find a floor around there, or just crumble along with the rest of the market. So, could go up, down, or sideways ...

Sorry if my post is misplaced. My definition of what constitutes a possible breakout might be a little bit misguided. That being said, from a retrospective point of view, QBE is one of those stocks that seems to find very strong support and sharp bullish trends after sustained drops in price as it is currently experiencing. In either case, I feel it is defiantly worth keeping an eye on if one is looking to make some short term profit.

Holding my breath until the reports come out....

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

A reminder that any post must be accompanied by a chart, and some explanation. Those without are removed. Cheers

 

[jonojpsg]

Re: POTENTIAL BREAKOUT Alerts

CFU definitely worth looking at, not just from a chart perspective but the latest efficiency rating of 60% (+25% when heat transfer is included!!) makes for a goer IMO

 

[psychic]

Re: POTENTIAL BREAKOUT Alerts

TNG appears to be breaking out from its low of 2 cents. Hoping it breaks 3 cents, whcih should spark a nice rally

 

[sammy84]

Re: POTENTIAL BREAKOUT Alerts

PRY seems to be forming an ascending triangle. Not amazing but worth a look

 

[sinner]

Re: POTENTIAL BREAKOUT Alerts

Hi sammy84,

I have a chart with an almost identical formation (KAR).

We are on low volume moves here, but yesterdays strong bounce off 100MA to close back inside the triangle as a Doji is encouraging.

As you say, nothing amazing, but worth a look.

 

[grace]

Re: POTENTIAL BREAKOUT Alerts

You can boot me out of the thread if it's not in the right place but NAV seem to be moving up with some volume. Gold resource release and PFS is imminent, so it could be anticipation, or perhaps some leaked information?

 

[gfresh]

Re: POTENTIAL BREAKOUT Alerts

TLM seems to be moving with a cluster of volume.. Not sure what is going on there. Some announcement soon I would imagine. May need to re-test 20c or 25c