Potential Breakout Alerts!

[nunthewiser]

Re: POTENTIAL BREAKOUT Alerts

This thread would have POTENTIAL if there wasnt so many pedantic buggas in it

thankyou

as you were

 

[Sean K]

Re: POTENTIAL BREAKOUT Alerts

This thread would have POTENTIAL if there wasnt so many pedantic buggas in it

thankyou

as you were

Pedantic is important here nun. I scrutinised this thread very closely in the beginning, but dialling in from Peru has meant that I've gone off the boil. My issue is: Stocks posted that do not display clear potential to breakout from a significant trading range dilute the effectiveness of the thread.

 

[Boggo]

Re: POTENTIAL BREAKOUT Alerts

Just using this as an example to elicit some opinions.

Could this be considered a potential breakout ?

If yes or no then why ?

(click to expand)

 

[cuttlefish]

Re: POTENTIAL BREAKOUT Alerts

Hmmm ... what if boggo had posted the IFN chart like this? Is it a potential breakout then? I'll admit to being a bit confused but I'm no chartist thats for sure.

 

[swm79]

Re: POTENTIAL BREAKOUT Alerts

Generally when you're talking break outs you're referring to a time when the SP is constantly finding resistance at a ceratin level and it sustains that level for a period of time (unlikely to be a week). Each attempt at breaking through the resistance is a smaller change in price at an increasing rate - indicating a war between buyers and sellers that is gradually coming to a crisis point.

The "breakout" of IFN is more due to fundamentals - i.e. the ETS in parliament, rather than charting.

just my opinion.

 

[cuttlefish]

Re: POTENTIAL BREAKOUT Alerts

So really we're coming down to a debate on what constitutes a breakout.

I'd say a range breakout is one specific type of breakout but a breakout from a down trend, a breakout through historical overhead resistance levels into 'blue sky' or a breakout from a continuation pattern in an uptrend could all arguably be labelled breakouts as well.

Here's a definition of a chart breakout I found from the first randomly selected charting site I hit with google:


A chart breakout occurs when a share price breaks through an important barrier, and is free to move beyond. These barriers can be an absolute price level or a trend line drawn on the chart of past movements. All it really means is a signal of a change in the pattern of price movements. Quite often, the longer a price has been confined, the more spectacular its behaviour on escape will be.

from here:

http://money.uk.msn.com/investing/articles/nicklouth/article.aspx?cp-documentid=4753108

 

[antzlovinit]

Re: POTENTIAL BREAKOUT Alerts

Positive announcement from Sultan today - proceeding with development of the Peelwood copper/zinc project.

http://www.asx.com.au/asxpdf/20090820/pdf/31k5wfk64ylt80.pdf

Thanks for the news....made a whopphing today! . Thanks for sharing your comments, really appreciate it. Hopefully you will share some more!

 

[bowman]

Re: POTENTIAL BREAKOUT Alerts

Thanks for the news....made a whopphing today! . Thanks for sharing your comments, really appreciate it. Hopefully you will share some more!

Cheers antzlovinit:bier:

I managed one big trade from the open and a couple of smaller ones during the day and I'm still holding a sizeable position from before the breakout, so you could say I'm feeling pretty satisfied

There should be more good trades in SSC to come and hopefully we might have a new miner in the making.

I usually keep an eye on the charts of speccies mentioned in The Australian and elsewhere, so I'll keep em coming when anything interesting pops up.

Yesterday's gap up could be a breakaway gap, in which case it may not get filled - we'll see in due course.

 

[swm79]

Re: POTENTIAL BREAKOUT Alerts

So really we're coming down to a debate on what constitutes a breakout.

I'd say a range breakout is one specific type of breakout but a breakout from a down trend, a breakout through historical overhead resistance levels into 'blue sky' or a breakout from a continuation pattern in an uptrend could all arguably be labelled breakouts as well.

Here's a definition of a chart breakout I found from the first randomly selected charting site I hit with google:


A chart breakout occurs when a share price breaks through an important barrier, and is free to move beyond. These barriers can be an absolute price level or a trend line drawn on the chart of past movements. All it really means is a signal of a change in the pattern of price movements. Quite often, the longer a price has been confined, the more spectacular its behaviour on escape will be.

from here:

http://money.uk.msn.com/investing/articles/nicklouth/article.aspx?cp-documentid=4753108

i submit. the subject is much too subjective to argue about...

i like to see a bit more sideways movement before i'll call a breakout. but it all depends on what you're happy with. each to their own.

happy trading

 

[bowman]

Re: POTENTIAL BREAKOUT Alerts

Symmetrical triangle forming within an uptrend, with reducing volume.

 

[cuttlefish]

Re: POTENTIAL BREAKOUT Alerts

i submit. the subject is much too subjective to argue about...

sounds fair enough to me.

happy trading

cheers and likewise!

 

[tech/a]

Re: POTENTIAL BREAKOUT Alerts

MEO triangle.

 

[JeSSica WaBBit]

Re: POTENTIAL BREAKOUT Alerts

Tech,

just to say i always enjoy reading your posts and find them very interesting and informative.

Can you advise if you are currently holding MEO and if so, what was your entry.

I dont plan on buying any myself but just curious to know if you have any in your portfolio?

JW

 

[RogueTrader273]

Re: POTENTIAL BREAKOUT Alerts

As a matter of interest, what data services do you guys
use to get your Oz data from?

 

[Boggo]

Re: POTENTIAL BREAKOUT Alerts

Hmmm ... what if boggo had posted the IFN chart like this? Is it a potential breakout then? I'll admit to being a bit confused but I'm no chartist thats for sure.

Or if I had used the same chart but different software with some colouring in...

.

 

[bowman]

Re: POTENTIAL BREAKOUT Alerts

Go with the breakout, or if it breaks down look for trendline support.

 

[tech/a]

Re: POTENTIAL BREAKOUT Alerts

Tech,

just to say i always enjoy reading your posts and find them very interesting and informative.

Can you advise if you are currently holding MEO and if so, what was your entry.

I dont plan on buying any myself but just curious to know if you have any in your portfolio?

JW

No.
Just saw it in a scan.
Looked good enough for the watch list.

 

[Peanut]

Re: POTENTIAL BREAKOUT Alerts

Not sure how far I am away from the mark here, but does the jump in GDA on Friday after a long period of light trade constitute a breakout?

Unable to post graph, apologies.

 

[tech/a]

Re: POTENTIAL BREAKOUT Alerts

Not sure how far I am away from the mark here, but does the jump in GDA on Friday after a long period of light trade constitute a breakout?

Unable to post graph, apologies.

Oh yeh.

Very high volume and you'll note the close off the high.
The next day or so will reveal if the volume is from buyers in which case it wont come off a great deal (Tomorrow a likely inside day) or sellers who have been locked in for ages at much higher prices. In which case any testing of the current high will be capped.

Its done this before without going on with it.
Personally Id want to see a period of consolidation with a further breakout to follow to give me confidence in this one.

Just my opinion.

 

[Peanut]

Re: POTENTIAL BREAKOUT Alerts

Thanks Tech/A.