Potential Breakout Alerts!

[skc]

Re: POTENTIAL BREAKOUT Alerts

ive been looking at ALL for a month or so. i personally bought it after the capital raising. picked some up at $3.25 since then its gone up 20%
but as predicted its hit the $4 resistance and plummeted down again.

its currently about halfway down, but today it opened lower but recovered a little at close.

because of the recession, gambling is obviously low, so aristocrat has been hit by lower sales, but its similar to FLT in the sense that, if it pulls through it will do well. it has had a good history so im holding this for the long run.
im not sure if i posted the chart correctly, but its a 3 month chart. OBV is dropping, but i think one should wait until it hits the support again, before riding it back up. theres about a 20% range between the support and resistance, so even if you dont think it will break anytime soon, selling out then would still pocket u some nice change. i thought id post it here before it hits the support so people dont miss out and can do their own research.

The channel makes good trading for sure, but this is hardly potential breakout alert materail?

ALL if anything has a poor history of near disasters and disappointed earnings. Their problem is not about people not gambling in recession (they do), but casinos don't buy new pokies. Their growth has been spurred by more pokies in more pubs in the last few years, but one wonder how much that can continue.

To Mod: Feel free to move this to the ALL thread.

 

[jonojpsg]

Re: POTENTIAL BREAKOUT Alerts

Might be a little left field but AEX was up 40% today.



Only a penny dreadful (open 0.6c close 0.7c, high 0.8c, yesterdays close 0.5c) and not much volume (12m today)

but given the market was dreadful today and this hasn't moved much past 0.6c for a few months there might well be some news in the offing that hasn't emerged yet?

 

[sandybeachs]

Re: POTENTIAL BREAKOUT Alerts

came up on one of my scans as "potential breakout alert"

ITC looks like it might be heading higher & it's one that should be watched closely in the coming days, it seems as though it could make a good opportunity for a trade.

we are just seeing a "crossover of the moving averages, volume heading higher & MACD crossover as well",

we'll watch this one very closely as it could be a good pick up on a "potential breakout alert"

all in all this makes an excellent "potential breakout alert"

 

[sandybeachs]

Re: POTENTIAL BREAKOUT Alerts

came up on one of my scans as "potential breakout alert"

ITC looks like it might be heading higher & it's one that should be watched closely in the coming days, it seems as though it could make a good opportunity for a trade.

we are just seeing a "crossover of the moving averages, volume heading higher & MACD crossover as well",

we'll watch this one very closely as it could be a good pick up on a "potential breakout alert"

all in all this makes an excellent "potential breakout alert"

what a miracle seems as though i got one right, may be this is my this where my talents lay "POTENTIAL BREAKOUT Alerts".

may thanks for not receiving a "infraction notice".

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

what a miracle seems as though i got one right, may be this is my this where my talents lay "POTENTIAL BREAKOUT Alerts".

may thanks for not receiving a "infraction notice".

It's closer to what you would consider a breakout due to it approaching 4c, which is significant resistance.

Here is a definition for you:

Breakout: Price of a security emerging from a previous trading pattern. The new price "breaks out" above the high (or below the low) trading pattern lines that enclose all other prices for that security in the preceding period. Breakouts are used by technical analysts to predict substantial upside or downside movement.

The key to breakouts and potential breakouts is a 'trading pattern' or range, and the stock approaching, or breaking through significant resistance, on volume.

For ITC, breaking through 4c does look important.

 

[YOUNG_TRADER]

Re: POTENTIAL BREAKOUT Alerts

GCR could be a breakout past 2c 2.5M traded so far bulk of it 2c-2.1c

For fundies see GCR thread

 

[fureien]

Re: POTENTIAL BREAKOUT Alerts

The channel makes good trading for sure, but this is hardly potential breakout alert materail?

ALL if anything has a poor history of near disasters and disappointed earnings. Their problem is not about people not gambling in recession (they do), but casinos don't buy new pokies. Their growth has been spurred by more pokies in more pubs in the last few years, but one wonder how much that can continue.

To Mod: Feel free to move this to the ALL thread.

i see

but looking at today, it opened higher at 3.9, currently 3.7
im kind thinking its not gunna drop downt o the resistance...hopefully

ill keep an eye on it, and if it goes back up near $4 before hitting 3.5 i think thats a potential breakout

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

GCR could be a breakout past 2c 2.5M traded so far bulk of it 2c-2.1c

For fundies see GCR thread

Where's the chart LN?

 

[sagitar]

Re: POTENTIAL BREAKOUT Alerts

Hi all,
Thought I'd share one which looks promising - FML. There's no shortage of shares being traded on this one so liquidity is a big bonus here. Daily trades equate to somewhere between 20 to 40 million. Buyers are heavily stacked against the sellers. Long term there's been a strong symmetrical triangle developing which is nearing a break point - if it breaks up I have a preliminary target of around 4.6c, although short and medium technical resistance points are 5.6 and 9.7c. Clearly quite a bit of accumulation appears to occurring so it will exciting to watch this one play out.
cheers
Sagitar

ps. One to certainly keep an eye on...

 

[bonkerrs]

Re: POTENTIAL BREAKOUT Alerts

Hi all,
Thought I'd share one which looks promising - FML. There's no shortage of shares being traded on this one so liquidity is a big bonus here. Daily trades equate to somewhere between 20 to 40 million. Buyers are heavily stacked against the sellers. Long term there's been a strong symmetrical triangle developing which is nearing a break point - if it breaks up I have a preliminary target of around 4.6c, although short and medium technical resistance points are 5.6 and 9.7c. Clearly quite a bit of accumulation appears to occurring so it will exciting to watch this one play out.
cheers
Sagitar

ps. One to certainly keep an eye on...

Nice find sagitar. I've put it in the watchlist!

One question though. Why the 2 upper resistances?

Cheers!

 

[sagitar]

Re: POTENTIAL BREAKOUT Alerts

Those two upper resistance lines are where there was previous support on the way down (which in turn becomes resistance when the stock rises). They can also be considered zones where the share if it goes up is likely to consolidate before moving further.

A simple rule of thumb for ascending, descending or symmetrical triangles is to calculate the height of the triangle at it's widest pt, and add that distance to the breakout point on the triangle...it should then give you an approximate distance or price target anticipated by many traders in the short to medium term. In FML's case, 4.6c would be that short term target if it breaks up. That's not to say it could go further than the expected target, depending on circumstances.

Hope that helps.

 

[sw3]

Re: POTENTIAL BREAKOUT Alerts

G'day sagitar,

I've followed a few of your posts and I was wondering if you could give a bit of an insight to your trading past? I'd be interested to know how long you've been doing it (always have my ears open)! Cheers, sw3

 

[bonkerrs]

Re: POTENTIAL BREAKOUT Alerts

Thanks Sagitar. I'll follow this one (FML).

Like I said earlier, I watched URL too but didn't jump in at 0.018 then thought it couldn't keep going up... only to see it increase by huge percentages everyday since.

 

[sagitar]

Re: POTENTIAL BREAKOUT Alerts

G'day sagitar,

I've followed a few of your posts and I was wondering if you could give a bit of an insight to your trading past? I'd be interested to know how long you've been doing it (always have my ears open)! Cheers, sw3

Hi sw3 - been a trader for just over 10 yrs using purely technicals for short and medium trades, and a combination of technical and fundamentals for long term positions. I prefer to 'stalk' a stock, so to speak, (ie place on ascending-order watchlist) until it hits of my trading criteria for an entry or an exit. It works for me but everyone has there own style

How about yourself?

ps. no worries Bonkerrs.

 

[sw3]

Re: POTENTIAL BREAKOUT Alerts

Sagitar I wish I could proclaim such experience! I've only really been in the "game" so to speak for a year. I was paper trading forex and thought I'd get into this caper as well. I'm still very wet behind the ears but there are lots of similiarities with forex (i.e. volumes, candlesticks, MACD etc). I guess the thing I like about shares is the fact that it's a relatively tangible item;
companies producing goods/services to sell vs currency that fluctuated on random events (such as boosting by fed banks).

Can I ask which platform you use to trade? I'm using Commsec which I think's ok but I haven't found a ascend/descend function (yet?).

Apologies for turning this into a trading bio session too. I will keep to the post in future

Cheers,
sw3

 

[sagitar]

Re: POTENTIAL BREAKOUT Alerts

Sounds good SW3, yes I use the same broker as yourself. Sorry mods for going off topic - will return now to posting potential breakouts....
cheers

 

[bowman]

Re: POTENTIAL BREAKOUT Alerts

Announcement this morning from a US Conference with update announcements to follow in a few days.

http://www.asx.com.au/asxpdf/20090518/pdf/31hn14n1tjphcz.pdf

A triangle forming on the weekly chart, coinciding with previous support/resistance.

 

[db96]

Re: POTENTIAL BREAKOUT Alerts

IGR

 

[db96]

Re: POTENTIAL BREAKOUT Alerts

GCL

 

[monkeymajik]

Re: POTENTIAL BREAKOUT Alerts

GCL

Noble offering $7 a share