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 Gold Customer
Joined: 11/11/2006
Posts: 359
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HLTH seems to be forming the classical "Cup With Handle". What thinks the Crew?
Mammon
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Registered User
Joined: 3/21/2006
Posts: 4,308
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How are you Mammon? I am back from my vacation early for real-estate matters and found you posting an old friend of mine. My sister works for this company; I once made a small fortune off this one.
If you look at the weekly chart you will see that in 2009 so far price has twice tested the highs from June and August of last year. I see this retracing here for a bit and then a bounce off the mid $10's sounds about right. Mid to long term this is a stable company and I am sure that there will be some short term opportunities as well.
Good find...
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Registered User
Joined: 2/21/2007
Posts: 797
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Apsll: I thought you were going to pick a new moniker?
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Registered User
Joined: 2/21/2007
Posts: 797
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By the way, if you chat with WSE, tell him thanks for all the excellent info about day trading.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Nope, gonna keep this one. I have not spoken with WSE since my return. I wonder why he stoped posting?
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Registered User
Joined: 2/21/2007
Posts: 797
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Well i guess if you don't mind showing off a self portrait, we will have to live with it.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Remember this is a picture of Mammons Mother in law.
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Registered User
Joined: 2/21/2007
Posts: 797
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WOW! Is that something like mother like daughter?
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Registered User
Joined: 12/2/2004
Posts: 1,775
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QUOTE (mammon) HLTH seems to be forming the classical "Cup With Handle". What thinks the Crew?
Mammon
Good eye mammon. I just pulled it up and I think it passes many of the criteria using O'Neil's guide, the person who originally dissected and coined the term. It passes the prerequisite prior uptrend of 25%+ (Nov to Feb) leading to high point of left side of cup. Depth of cup more than 15%, barely, but not more than 35%, check. Length of pattern at least 7 weeks, check. Handle five days minimum and drooping with lowering volume relative to right side buildup but less than 12% depth and located in upper half of cup, looks ideal here. Much of overall pattern minus the wide and loose daily ranges, check. Top of cup not more than 15% from one year highs, check. Bottom of cup not V'ish, check. Avg. daily volume plenty fluid, check. The main weakness I see is that green volume on buildup of cup's right side versus red volume on cups left side is not ideal, but nonetheless overall the setup is fine because it passes vast majority of criteria imo. A breakout of highs of handle on high volume would be a very solid buy signal imo. CFL is a recent cup/handle that had a green volume weakness but finally had a nice surge in volume as it broke out. Enjoyed the exercise.
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