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Registered User
Joined: 12/18/2004
Posts: 20
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Got a question about this stock, from mid Nov until current time would this be a valid head and shoulders formation?
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Registered User
Joined: 11/16/2004
Posts: 105
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I would say so, with increasing volume going into the left shoulder & diminishing volume going into the right shoulder. This is more pronounced looking at TSV18.Loosing momentum.Also look at a short & long term stochastics comparison. Looks bearish.
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Registered User
Joined: 12/18/2004
Posts: 20
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Thanks for the help and the explanation of the pattern. Also very clad you use the TSV reference I am still trying to get the use of this indicator down.
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 Gold Customer
Joined: 11/25/2004
Posts: 10
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To perhaps improve your understanding of TSV, consider creating a middle window with TSV 14, ROC 14 and RSI 14. One can see that they are very similar, although not exact. Try differnet periods and compare. I tend to treat TSV as a strick momentum indicator. I decided on it verses proce ROC alone since it incorporates volume in its calculation. however, I believe the interpetations for all three indicators are the same. If I am wrong I welcome feedback.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Hello. I think that your head and shoulder pattern did exist until the mid December. It just never materialized. The lower of the second shoulder as you can see by just looking at the pattern didn't break lower than the 1st low of the 1st shoulder.
Keep things simple. You do not need to look at any indicators to identify a patter. Patters are within the price.
The stock seen to be headed down, but it is not because of prior head and shoulder pattern. As you may well know the market is in for a sharp correction and so this stock is acting just like the majority of the rest of the stocks; to the down side.
I hope this helps.
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Gold Customer
Joined: 1/6/2005
Posts: 3
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Lots of compression/range tightening on this one which can be seen if you draw trendlines from the low in '01 and the high in '02. Kind of a monster rising wedge. Looks good for a pullback at least to the lower trendline at 27.50 imo, though I am only watching right now.
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Registered User
Joined: 12/18/2004
Posts: 20
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Thanks one and all, what a learning experience this has been. I will try the indicators as you suggested Robin. I will also try the trend lines you suggest ava. Bigblock I agree that the market needs to unwind a bit. Sitting on a few PUTS right now. Hop all have a good year trading
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Gold Customer
Joined: 1/6/2005
Posts: 3
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While I still think this looks good for a small dump, I won't play it because of what happened with PNRA yesterday.
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