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.This thread would have POTENTIAL if there wasnt so many pedantic buggas in it
thankyou
as you were
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!
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...
cheers and likewise!happy trading
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.
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
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.
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