Potential Breakout Alerts!

Sdajii said:

I am very new to everything, and have little idea about chart reading, but I was looking through this thread this morning (which has almost literally taught me everything I know about charting, which was effectively nothing when I woke up this morning), and just now was clicking through some companies.

I'm sorry I don't know how to put pictures up with the lines like you guys, but perhaps someone else can.

SRL looks like they have a 'wedge' (???) pattern going. If you look at the October data, it looks like right about now we are sitting whether the lines would cross.

I don't know if this is a good thing or a bad thing, but from looking at your diagrams, it looks significant. I almost understand half of the ascending triangle, but as for head and shoulders, flag mast, wedge, etc etc, I have no idea.

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It looks more like a a breakout to the upside. Well may be I'm more bullish atm. Looks similar to CDD from last week.

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Sdajii said:

I might take a punt today and buy some. It looks to my untrained eye like it is unlikely to drop much further, and if a breakout is likely, I'm guessing it will be more likely to be positive. I'm far from sure, but hey, if I have a better than 50% chance I might as well jump in, right? Attitude of a newbie about to lose his money? Haha, maybe! Well, beginner's luck has been on my side so far, so I'll ride along with it until it dries up!

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lukeaye said:

How is CDD even close to the same pattern? It was an uptrending stock?

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lukeaye said:

You put your money in you have a 50/50 shot the way i see it. The likelyhood of it going up is just as great as it going down.

The funny thing about beginners luck is it usually runs out very quickly.

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Sdajii said:

I bought at $1.66, currently the bid is $1.72 I'm holding out for it to go higher. Maybe it will, maybe it won't.

I agree, beginner's luck won't last forever, but I'm enjoying it while it lasts In time I'll either have to get some real ability, or start losing due to that luck drying up.

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lukeaye said:

And im sorry, but that chart is not similar to CDD, its a completely different set-up. You can't look at a chart and say, o that kinda looks like this. Its either there or it isnt. Dont try and make things fit. It is nothing like CDD and trading in the same manour is just silly.

CDD had clear accumulation signs, ie volume and spread. SRL does not. SRL has pulled back 60% from its last drive up, CDD pulled back maybe 20%. How are these two closely alike?

I would not be suprised if SRL gets hammered tomorrow. There is clearly still supply there. But i could be wrong

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lukeaye said:

Hey thats a great attitude, i reckon with that plan you will get real rich quick, why didn't i think of that!

Honestly, have a think about this, you have gotten "lucky" and made some money. Why wait until you lose it? You may as well go to the casino with that sort of attitude.

I didnt say it wont go up, it very likely could. But without a plan, plan to fail. Good luck though, your going to need it.

And im sorry, but that chart is not similar to CDD, its a completely different set-up. You can't look at a chart and say, o that kinda looks like this. Its either there or it isnt. Dont try and make things fit. It is nothing like CDD and trading in the same manour is just silly.

CDD had clear accumulation signs, ie volume and spread. SRL does not. SRL has pulled back 60% from its last drive up, CDD pulled back maybe 20%. How are these two closely alike?

I would not be suprised if SRL gets hammered tomorrow. There is clearly still supply there. But i could be wrong

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