| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 4/9/2009
Posts: 6
|
WIth volume, is this another potential breakout...even though stock has had big run?
I'm not super great with charts, just looking for an opinion
on 2 yr chart. Thx
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
Hi stjohns. It has had a great run, but when it builds a mostly lateral base of several weeks or months it may be ready for another run. Note too where the volume kicked in on this stock...above 4.50 in February, and how weak the volume was on its runup from Nov to Feb. So I look at it and say that maybe the real runup started at 4.50 area and therefore has potential for another good run, especially now that its based for a couple of months. Really like that it may be on verge of making multi year highs, when that happens (and new all time highs) all or most buyers are winners and the potential increases that most won't be wanting to sell, i.e. no reason to sell a winner at the moment, so odds increased that even better prices ahead, short to mid term anyway. One thing about it that I don't like is that even though volume has picked up lately it's still thinly traded for a single digit stock, so more volatility potential, but that sword cuts both ways. Right at Feb. resistance at moment, will be interesting to see how strong that resistance is. Good luck.
|
|
Registered User
Joined: 4/9/2009
Posts: 6
|
fpetry, Thanks. Appreciate the good insight on those levels.
It is a thin trader, not a lot of institutional support so it does make it trickier to gauge.
I agree with the 4.50 level and volume to this point has been much better than at lower levels.
Been long a small position for awhile...going to hold for now I think.
|
|
 Gold Customer
Joined: 3/28/2005
Posts: 31
|
It looks like it may have some potential, but, given Friday's action, I wouldnt buy it here. Personally, if I were going to play it, I'd buy on a stop at 5.90 and use a tight stop, around 5.40. I would want to see it close at or above 6.00 on the day I bought it, with volume of at least half a million. Otherwise I'd get out the next day.
|
|
Registered User
Joined: 12/18/2008
Posts: 150
|
i like it, id look for it to head to $6.2 and up as my first target
|
|
Registered User
Joined: 8/13/2008
Posts: 1
|
Thanks all -- 379K so far, looks like a breakout and 3 year hi ? Still a tricky trader I think, but the chart
does look nice today.
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
Oh yea, nice looking volume breakout, wish I was in, hope stjohns is, and that it closes near highs.
|
|
|
Guest-1 |