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Re: madtig6 post# 37468

Monday, 02/14/2011 3:33:32 PM

Monday, February 14, 2011 3:33:32 PM

Post# of 59551
FWIW, a break from a tight BB pinch usually favors the side of the BB midline that the price is on in the pinch just prior to the BO, in this case, downward (in fact, the BBs may be starting to diverge right now, indicating the break out/down):

http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=6&dy=0&id=p97635799637

Whichever way it goes, I would expect the price to be contained for a while by the weekly standard BBs (currently about .29 and .09):

http://stockcharts.com/h-sc/ui?s=IMGG&p=W&yr=3&mn=0&dy=0&id=p53208348545

If it substantially blows through a standard BB, then some short term money can be made betting on a retrace (see action in early November on either chart).