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Registered User
Joined: 3/21/2006
Posts: 4,308
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This is a stock I mentioned in another post by ZAG999ca on Dec 18th titled - ANPI-prospects ??? (IMO) the fundimentals are SOUND on this one and the indicators are responding very well, I jumped in a little late at $2.29
Another good buy will be tomorow just above todays high..
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Registered User
Joined: 11/22/2006
Posts: 28
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Looks like it's trying to get out of here!
Last high volume jump (April) was the top so I am cautious, but BOP is helping here and stochastics look like the lows have been set.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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I have mentioned this in a few of my other post and I actualy bought some shares in late December, and then paniced and sold on the dark cloud candle (January 3rd)
I just believe that it is in a triangle pattern and that somthing will happen soon..
Draw a trendline from the low of December, to the low of january 11... And another from the high of October 20 to the high of December 29
Now on zoom 7,, notice how the recent lows keep thouching that line, but will not break through it. The same type of action happened to GV right before its break out..
All my indicators are acting the same way as they did for GV at that time.. Back test GV and see for yourself..
Of course there is no guarantee for a break out, but I am going to buy some shares the next time the price touches that bottom trend line...
Just thought I would share this if any one is looking at this the same way..
Thanks Apsll...
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I have a tad of triangle confusion. I'm reading "Technical Analysis of Stock Trends by Mc Gee" and there they dont give TRiangles a high percentage as reversal patterns.. there are exceptions and I forget what those are... I think they involve volume and a flat topped or slightly upward angling triangle. I have all my notes on them from Technitrader also .. but they are burried. I don't have allot of experience with triangle... Do yo use them often ASPLL? find them reliable?
I want to say from memory (which is flawed) that most triangles are usually continuation patterns.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Of course nothing in the stock market is guaranteed.. But I find them to be very reliable for up or down action.
Look at GNBT, A triangle was formed from October to November. Once the triangle is breach up or down, then that is usually the direction the following action will take. In the case of GNBT, It was down..
Look at GV, A triangle was formed also from October to November. once the triangle was breached, the following action was to the up-side..
Almost mirror images of each other, even after they broke through, their action was similar. A few days move in their perspective direction, then a small retrace and then back to the trend..
Please understand that (reliable) does not mean 100%...
I hope this has been helpfull..
Thanks. Apsll...
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Volume is increasing over the last two days (I know that this stock does not trade in the high number volume area) but with this type of stock, that is how it is.. I have seen this before. Belive me the volume will come when the break out takes place.. For a short term position you will not have a problem selling your shares..
I bought yesterday afternoon at $2.06 just like I said I would right near the bottom of the trend line (notice again how it keeps touching that line.. I have a hidden stop loss at $2.00 below the trend line, so that when it does break the triangle (If it breaks down instead of up) then I will be out of the stock.. This is about as low risk as you can get (run the numbers)
I am not saying that it will break out today but I have a low risk position in this stock, and will use patience for what I belive will be a very profitable trade..
Apsll..
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Is there anyone out there, other than me that bought this near the bottom trendline???
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Registered User
Joined: 11/11/2004
Posts: 21
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Registered User
Joined: 11/11/2004
Posts: 21
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I bought some at $2.08
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I'm looking at putting an order at the top trendline. bought lmra today and movi.
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