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ABKFQ – Q Stock Starting to Tighten Up Considerably, Time to Watch for Signs of a Breakout
http://onlycharts.com/2011/05/21/abkfq-q-stock-starting-to-tighten-up-considerably-time-to-watch-for-signs-of-a-breakout/
LLEG – Just a Hop, Skip, and a Jump Away from Key Resistance, Still Waiting and Watching
http://onlycharts.com/2011/05/21/lleg-just-a-hop-skip-and-a-jump-away-from-key-resistance-still-waiting-and-watching/
RPPR – Possibly Bottomed Out and Starting to Look Bullish, Looking for a Bounce/Breakout Here
http://onlycharts.com/2011/05/21/rppr-possibly-bottomed-out-and-starting-to-look-bullish-looking-for-a-bouncebreakout-here/
IMSC – Hanging Out at Key Resistance, Watching for a Breakout
http://onlycharts.com/2011/05/21/imsc-hanging-out-at-key-resistance-watching-for-a-breakout/
IHSN – Bullish Consolidation Continues, Just Waiting on a Trigger or Catalyst
http://onlycharts.com/2011/05/21/ihsn-bullish-consolidation-continues-just-waiting-on-a-trigger-or-catalyst/
Agreed. eom
HA, awesome! Good eye, and good luck to us all!
NED – Pulled Back & Consolidated Since it’s Recent Move, Testing Resistance
-I love pretty much everything about this setup, from the long term looks to it to the short term bullishness and today’s volume. I know the big line in the sand is up closer to $2.80, but this $2.50 range looks like something to pay attention to as well. It’s the highest close in the past few weeks, and my thinking is you have to jump over short term strength on a setup like this, because in many cases the momentum will pickup and carry through past the ultimate top ($2.80), and then you’re riding out the breakout with a killer entry point. It doesn’t always work out like that obviously, but that’s what I’m shooting for.
-Another option is to play this lower breakout and take some profits into the overhead $2.80 resistance. If it stalls and falls, then you still locked something in, but if it breaks you’re still riding out the rest of your position. It’s a bit more conservative, but I like that route.
http://onlycharts.com/2011/05/18/ned-pulled-back-consolidated-since-its-recent-move-testing-resistance/
BFHJ – Testing Multi-Month Highs w/Chart
-Did I catch your attention with the chart? I didn’t really have a purpose for making this one black, I just really liked the setup and wanted it to stand out a little. This ran hard back last summer, and after some hefty pulling back and consolidation, it’s now starting to give me those short term bullish vibes. Ideally some short term bullishness would lead to another sustainable move like last year, but we’ll see if that’s in the cards. I really like this play on a solid, volume backed break of .0016.
http://onlycharts.com/2011/05/18/bfhj-testing-multi-month-highs/
DKAM – Double Bottom Setup Starting to Test a Breakout/ Trigger Point
-You can see the two distinguished bottoms from March and April, and now the price is making it’s second recent attempt to trigger this pattern and make it official by breaking the high point between the two lows. .003 is the key line in the sand to watch and we could see a breakout pretty soon, but it’s now up a bunch in the past couple of days, so we still may see some profit taking before it really makes an attempt to blast through.
-Everything looks pretty solid on this setup, and the RSI is no exception with it trading right at it’s 52 week highs.
http://onlycharts.com/2011/05/18/dkam-double-bottom-setup-starting-to-test-a-breakout-trigger-point/
VKNG – Starting to Bang on this Channel’s Ceiling, With Extra Resistance from the 200 MA
-This has bounced back and forth in a very steady channel for the past few months, and now it really seems to be pushing hard on the top of the trading zone. It hasn’t broken through yet, but if it can squeeze out enough buying pressure to get cleanly above the resistance right here, then I think the odds of volume and momentum coming in soon after are good.
http://onlycharts.com/2011/05/18/vkng-starting-to-bang-on-this-channels-ceiling-with-extra-resistance-from-the-200-ma/
WHEN – Testing Long Term Resistance, Volume is Picking Up
-This area of resistance that the price has been bouncing off of for the past year+ is the last thing stopping it from hitting new four year highs. What makes me think this is getting close to breaking through is the frequency of the tests is increasing. It went seven months between the first and second test, four months between the second and third, and now it’s only been a little over a month and the price is barreling towards resistance once again (w/ volume). When support or resistance starts to get tested more and more frequently, it’s very often a telling sign that the price is getting close to busting through, and in this case it could be a whopper of a rally waiting on the other side.
-I’m always hesitant on playing a breakout if the price is up a good amount in the real short term, and just a few days ago this was trading in the low .003s, so ideally we see a bit of a pullback still and maybe a little consolidation before it busts through. However, if today’s volume and momentum carries over right away, then maybe this isn’t going to wait. While this isn’t trading at new highs yet, today actually looks to be the highest close since early 07.
http://onlycharts.com/2011/05/16/when-testing-long-term-resistance-volume-is-picking-up/
The recent rally was pretty overextended, but it’s pulled back, consolidated, and held it’s gained very nicely so far. It’s tested the 15 EMA a couple of times and the past couple of candles look pretty bullish by my standards, so I’m going to look to hop onto any strength here.
-I think a nice and fairly aggressive buy signal here would be a clear break of the trendline from the past couple of weeks, as well as a break of Thursday’s candle, especially if there was a healthy little surge in volume.
http://onlycharts.com/2011/05/16/atig-huge-flag-pattern-testing-resistance-does-this-have-another-leg-up/
CGSYQ – Low Volume Q Stock Approaching it’s Recent Highs
http://onlycharts.com/2011/05/16/cgsyq-low-volume-q-stock-approaching-its-recent-highs/
I'm certainly watching that pattern and have been for a while, but I'm also watching a pattern on a longer term time frame too. Daily, weekly, and monthly charts are all lined up for something big here. IMO the strength on these charts, especially the longer term ones, is representative of the fundamental strength in the stock and company. I'm not a fundamental guy, but I believe that strength in a stock chart is usually representative of fundamental strength, especially longer term setups that play out. Here are a couple of charts on the weekly and monthly patterns being mentioned.
http://onlycharts.com/forum-3/stockfetcher-scans-and-members-watchlists/long-term-breakout-setups-based-off-of-the-weekly-chart/#p201
Hope so. Been waiting on this one to pop for a long time. The longer the base, the better the breakout tends to be. GLTY
Yes sir, I did say it broke support. You see there are at any given moment multiple levels of support and resistance. It broke out of the channel I drew, and has now fallen to the support of the 200 MA. Is that ok with you? Or would you like to further split hairs?
BTW, if I have no idea what I'm talking about, and I'm bullish on LLEG........ well put two and two together.
Hmm, perhaps you missed my point, tanner. Did I write that it broke all support? Nope, but it broke out of a key channel that had been in play for months. Yep, it's sitting right on the 200 MA, and I believe it's going to make a push back into and above the channel.
sigh
Thank you very much and cheers to you as well.
Thank you for informing me how you use charting, but your methods or abilities don't work or not work for everyone else. Charts reflect everything that is known and seen in price action, which includes everything you mentioned. Of course it's not 100% reliable, it's simply a tool to help skew your chances of a successful trade in your favor, if you're able to do so. I've been trading pinks/otcbbs/ penny stocks in general for years now as my primary income, using charts on them since the beginning.
Charts are only as useful and helpful as the trader who's using them.
Person A doesn't think they're effective for daily moves because he can't get desirable results.
Person B thinks they are effective for daily action because he's gotten desired results from them for years.
Would you say that they're ineffective for daily charts? Or that Person A simply hasn't found out how to make them work for him?
It's good that you found a way that works for you, but please don't tell me what does or doesn't work for me.
EFLN – Rejected by Resistance, Testing Support Now; Will 200 MA Hold?
-I thought this was going to have enough juice to break through the .0014 resistance these past couple of weeks, but shows what I know. Now the price is coming back to test some long term support, which now includes a 200 MA that has stopped declining and is starting to turn up. Short term the setup has taken a step back, but the bigger picture is still set up nicely for a big move, so I’m still keeping it on watch. .0014 is still the breakout point, but with the ask sitting at .0008, we’re a far way off from that now. Maybe it’s worth scooping up some shares here off of support, and seeing if that holds?
http://onlycharts.com/2011/05/14/efln-rejected-by-resistance-testing-support-now-will-200-ma-hold/
WLGC – Broke Key Trendline Recently, has Now Consolidated on Top of it & Primary Moving Averages
-You’ll notice that I highlighted the recent trading range from the past few weeks, and when I do that it means that I view the action as healthy consolidation located at an ideal/bullish spot. Generally it means that the price has broken some sort of key resistance, then is starting to build a base on it’s new support. After a key break of resistance, the price often needs a ‘feeling out’ period, where it needs to discover whether the market participants are going to accept this new trading range, so I tend to infer healthy consolidation at that point as it (that price range) being accepted.
-With the nice consolidation taking place at an ideal spot, now it’s a matter of waiting for it to wrap up and watch to see if resistance gets broken. There was a bit of a fake out that took place this week, with the price breaking the .25 resistance intraday, but failing to hold it for the close and officially triggering. After a failed move or a fake out, there often will be a correction or continued consolidation before the price tries to make another attempt.
http://onlycharts.com/2011/05/14/wlgc-broke-key-trendline-recently-has-now-consolidated-on-top-of-it-primary-moving-averages/
APPY – Broke Out in April, Consolidated and Successfully Tested Support, Starting to Breakout Again
-That resistance that was broken last month was a pretty big move by the bulls, and since then the price has come back to test the old resistance for new support, and this past week it started to breakaway and bounce off of the support range. Maybe it’ll start another consolidation phase here, but I’ll be happy if it can hold above the 15 EMA, then make an attempt to break the April peak.
http://onlycharts.com/2011/05/14/appy-broke-out-in-april-consolidated-and-successfully-tested-support-starting-to-breakout-again/
IHSN – Breakout in April, Followed up by a Month of Consolidation and Testing Support
-After the breakout last month that went past .015, the rally died out and came back to test support. So far it’s held up and the price action has been consolidating nicely on top of it’s new support range, so as long as that holds up, I’m liking the overall look to this chart. There’s a bit of resistance at .0105, and the longer it consolidates while staying under that point, the more significant a break of that becomes. Right now that’s where I’d put the breakout point at, but I’ll feel more comfortable with that trigger if it can continue to consolidate and the spread can tighten up. Right now there is little buying pressure, so the spread is going to stay wide until that changes.
-There are reverse merger rumors circling this stock, so any news on that front will likely blow this chart wide open.
http://onlycharts.com/2011/05/14/ihsn-breakout-in-april-followed-up-by-a-month-of-consolidation-and-testing-support/
LLEG – Broke Support and is Trading Below it, but it’s Still Only a Small Rally Away from a Breakout
-For months we watched the action on this consolidate and tighten up more and more, and a couple of weeks ago we were all let down when the price broke support and started to trade below it. Even though it broke support, it’s still been hanging out right in this general range for a couple of weeks now, and though it may just be a break before it really breaks down, it may also be a sign that it’s getting ready to pop back above this resistance. If that’s the case, the volume will likely come in, and it shouldn’t be too tough to break through the key breakout point, which right now I’d put just below .005. I can see it going either way, but the chances of a breakout here are still pretty good, the upside potential looks huge, so I think it’s well worth keeping on close watch.
http://onlycharts.com/2011/05/14/lleg-its-broken-support-and-is-trading-below-it-but-its-still-only-a-small-rally-away-from-a-breakout/
EYSM – Broke Out of a Symmetrical Triangle, Now Starting to Creep Up
-This had a huge breakout a couple of months ago, and since that big move it’s consolidated into the shape of a symmetrical triangle. This past week the price convincingly broke out of the pattern, and since then it’s held up and even is slowly starting to push it’s way up. Mid term I like the triangle break, and short term I like the consolidation on top of the trendline resistance and moving averages. It’s hard to argue what the specific breakout price would be here, but I’d say it could pop at any moment now.
http://onlycharts.com/2011/05/14/eysm-broke-out-of-a-symmetrical-triangle-now-starting-to-creep-up/
DGRI – Couldn’t Breakout This Week, Fell Back Inside it’s Recent Channel
-It looked like it was ready to bust out of the channel it had been trading in, but after peaking it’s head above the trendline, the price retreated and has now come back to trade below it again. I’d like to see it hold right here and make another attempt soon, but now that it’s back inside the channel, it may come back to test support again. The one thing that the recent breakout attempt was missing was any sort of noticeable spike in volume on the daily chart, so next attempt I’ll be watching for some confirmation.
http://onlycharts.com/2011/05/14/dgri-couldnt-breakout-this-week-fell-back-inside-its-recent-channel/
HEB – Can it Hold Above the 200 MA? Will it Break the .55 Resistance?
-This is one of those setups that may need a lot more time to play out, but I can see the potential for a move at any point. There’s a nice long channel in play here with the ceiling currently being around .55, so I’m watching for a break of that with volume. The reason I figured I’d add it, even though I’m not very convinced the short term action is heating up much, is because of the break back above the 200 MA on Friday. It had recently broken above it, tested .55, got rejected, but now it’s back above that long term MA. If nothing else, it’s worth watching and maybe setting an alert if you have the software for it.
HEB
LBSR – Testing Support on a Tight Triangle, but it’s Still in Striking Distance of a Breakout
-This is similar to LLEG in that it’s testing the bottom of a very tight consolidation pattern, though because it’s so tight, there’s not much distance between the price, support, and resistance. So even though it’s flirting with a breakdown, it’s only a moderate rally and some decent volume away from triggering and breaking out. It may break support and go swimming for some new support to test, but I think it’s worth watching closely to see if it can instead gain a bit of strength this week and breakout. I’d put the trigger range somewhere around .032, for now at least.
LBSR
EYSM – Bullish Flag Pattern Starting to Break Away.. Is this Round 2?
-After the monster rally in February, this has consolidated for the past couple of months, but now it’s starting to breakout from that pattern. Today was the highest close in over a month, and the volume is just starting to pick up a bit. I’m pretty convinced already it’s setting up to run, but if I was a little more skeptical I may wait for a break of .03.
EYSM
I'm loving this consolidation on top of the 15 EMA.
http://onlycharts.com/2011/05/10/ihsn-update-long-term-consolidation-breakout-support-has-held-up-so-far/
ROSV – Coming to Life Out of Nowhere, Consolidating at 52 Week Highs
-Setups like this are just screaming to me that they want to try and breakout, with the past three weeks all trading at almost 52 week highs. For the past year the price has floated around on almost no volume, then out of nowhere a steady surge comes in and the trading is instantly transported to the next price level. It’s been a sloppy and illiquid trader for a long time now, but that could quickly change here if .11 gets broken and momentum comes in.
http://onlycharts.com/
AGEN – Room to Run if it Breaks Out of this Channel inclination
-I like this setup for a couple of reasons. First, it’s been trading in a nice tight range now for a few months, so it makes for a clean trade plan. That whole $1 range will be the key point of control being fought over, so there’s a good chance for bullish momentum if it gets broken. The second reason is that there looks to be minimal resistance, especially after that peak from January.
-I’m looking for all three to line up: A break of $1, a break of the RSI trendline resistance, and some increased volume behind the move.
http://onlycharts.com/
RNGC – This Flag Pattern Looks Like it’s About to be Tested for a Breakout
Today’s trading isn’t even halfway through, so I reserve the right to change my opinion if things drastically change before the bell. However, right now I think this looks like a solid breakout setup already starting to trigger, since today’s candle gapped and is trading above that key line of resistance (now support) around $1.05. As long as the bulls can now defend this new support in that area, I’m bullish on this play and looking for another breakout here.
-True, there’s that bit of resistance at $1.30, but $1.05 is a better trigger to play here, imo. It’s .25 cheaper, but it would still only be the second time in the last year it’s closed above $1.05 (so a valid trigger).
http://onlycharts.com/
Thank you. My guess is it stays in this range, below the peak last week but above the rising 15 EMA, which will fill out a nice flag, then possibly breakout from that. Just my guess at this point.
RLTR – Huge Breakout Last Week, Now Three Straight Low Volume Correction Days
-Just based on the candles from the past four days, obviously this stock is going to continue to be volatile (and risky). The run it had last week was on heavy buying, and the recent pullback has been on light selling, so that’s an indication this rally may not be finished.
-The RSI has had a chance to cool off and the 15 EMA has just about caught up to the price, so this could end up being the bottom of the correction (and the beginning of a bull flag?).
http://onlycharts.com/
IHSN – Long Term Consolidation Breakout, Support has Held up so Far
-I first posted this when the price was testing support and trading below it’s 15 EMA, but now it’s starting to bounce and trade above that moving average. I can see volume ever so slightly start to ramp up the past couple of days, and if that trend continues, this could end up flying.
-Can’t really put a breakout point on this trade quite yet, other than the April peak, though there’s still a ways to go before that is broken. I’ll just say I’m cautiously bullish as long as the price holds the 15 EMA, but will turn more bearish if it breaks.
http://onlycharts.com/
FCSC – Bullish Flag Pattern Setting Up, Still Consolidating
-A little late to the party at this point, but this bullish flag pattern can very possibly mean that there’s still another rally coming up. I’d argue that there’s resistance here from 1.27 – 1.32, so at any point if that looks like it’s getting broken with an increase in volume, then I’ll be looking for a breakout.
http://onlycharts.com/
IHSN – Thinly Traded but a Huge Consolidation Base and Little Resistance
-Thinly traded and extra risky, but if it can start trading back above the 15 EMA with an increase in volume, it could take off. There’s a huge base of consolidation behind it and little overhead resistance on the chart, so the possibility is there. May be worth taking a small position on if it starts to breakout.
http://onlycharts.com/