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Registered User
Joined: 2/13/2005
Posts: 368
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YRCW "appears" to look like a good TD profile candidate IMHO.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Be careful, with today's market behavior and the HOD right against the ubb20, it may go just high enough to trigger your buy order and then pull back. I'd let this confirm if I were you.
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Registered User
Joined: 2/13/2005
Posts: 368
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TD,
Thanks for that pointer, YRCW played out exactly how you said it would.... What exactly do you mean by "I'd let this confirm" Does that mean to set the entry point signifigantly higher such as HOD + 2% to ensure the stock will take off?? Regards.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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What I meant by confirming was to see if it would break through (convincingly) the immediate overhead resistance. You can draw a trendline from the highs of 11/4 and 12/2 and you'll see that your 12/12 action was right up against it.
Also when a candle jumps and hits the ubb20 but doesn't break through on strong volume, same concept. You have to see if it's going to pull back before you enter.
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Registered User
Joined: 2/13/2005
Posts: 368
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TD,
Do you think this one is going to pop. Would you try to accumulate around the lbb30?? Would you consider bottom fishing it around .80?? I'm thinking of going fishing..... thx
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Man, what a nice set-up. Be sure to make the buy order conditional at something above today's high.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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YRCW looks completely ready for early next week. But watch out, there is definite resistance at the ubb20. Look at the price action Nov and Dec.
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