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Registered User
Joined: 12/8/2004
Posts: 1,301
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Take a look at AW using the Multiple moving average system I displayed a couple of weeks ago. You will see that the longer term ma's and shorter term ma's have almost converged into one. This stock is going to go up or down, and whichever direction it moves will probably be the next longer term trend. This provides a very low risk entry.
Now they do report earnings in the middle of february so you have to be careful with this stock.
Positive volume is increasing above its average, and atr is dropping like a rock. A perfect indication this stock is going to move pretty darn soon. The last two times atr has dropped to this point the stock gave us a nice 2-3 dollar move. Will it do it again? I don't know for sure but it is worth .50 per share possible loss to find out. If I am wrong I will reverse my entry and go short as soon as I get stopped out.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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I forgot to mention the stock is also in a nice ascending triangle pattern. I just love ascending triangles.
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Registered User
Joined: 9/23/2006
Posts: 1
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What is atr
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Average True range.
Thanks
diceman
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Registered User
Joined: 4/3/2005
Posts: 91
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Here is a webpage that describes Wilder's average true range. There is a lot of information on this site. Check the left column.
(external link removed by moderator)
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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brad2000,
You may wish to review the following:
Average True Range
Creating a True Range Block
Please provide a description and PCF for calculating an ATR value to be used as a stop loss value
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 8/12/2006
Posts: 83
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Broke thru Ascending Triangle with nice volume.
Entry signal ?
Will need to clear Resistance around 13.11
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Registered User
Joined: 9/21/2005
Posts: 566
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stock moved up nicely today - anyone go long?
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Registered User
Joined: 12/8/2004
Posts: 1,301
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This stock is in "no mans land" right now. I still own it, but will probably get stopped out today. The reason it went down was WMI reported an earnings disappointment.
I did notice, however, that the reason it was disappointing was because of its difficult compare the last year because last year they had a bunch of cleanup for hurricane Katrina. Their year has been great other than that tough compare. I don't know whether AW had much katrina clean-up or not, and will also have a difficult comparison to last years quarter. Time will tell.
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