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EFLN – Sweet Consolidation Taking Place Near the Top of it’s Channel
-Long term: I love how the past two months the price has stayed trading above the major resistance from the six months prior to that.
-Short term: I love the price banging on this .0014 resistance. The two month descending trendline was the initial trigger point I was watching, but the .0014 line is the real line in the sand that separates us from a breakout.
http://onlycharts.com/
JMBA – Long Term Symmetrical Triangle Pattern Testing it’s Trendline Resistance
-The price is butting right up against this long term resistance, and I can see it testing a breakout sooner or later. I’d like to see a tight consolidation range play out around here, either below, at, or above the trendline I drew. Definitely looks like something to keep an eye on.
-I can see it holding here and breaking out soon, but even a pullback here would keep the pattern intact, and it would give the support/dip buyers a chance to scoop up a position.
-I’d put the key resistance currently at 2.50, ideally a close above it with some decent volume.
http://onlycharts.com/
EFLN – Sweet Consolidation Taking Place Near the Top of it’s Channel
-Long term: I love how the past two months the price has stayed trading above the major resistance from the six months prior to that.
-Short term: I love the price banging on this .0014 resistance. The two month descending trendline was the initial trigger point I was watching, but the .0014 line is the real line in the sand that separates us from a breakout.
http://onlycharts.com/
DGRI – Starting to Flirt with a Breakout, Time to Watch Closely
-There was a little testing of a breakout in the last 20 minutes of trading on Friday, but there wasn’t enough volume to break resistance and hold above it’s new support, so that puts us in the wait and see category for this week.
-.014 is still the breakout point that I see, so any close above that with some decent volume, or an intraday break with follow through.
http://onlycharts.com/
CYCC – Wow, that’s Quite the Trendline Break!
-Any time a long term trendline is broken, it’s usually a good idea to pay notice. This one was one and a half years in the making, and today’s break was on significant volume and closed above resistance with authority. Advantage: Bulls.
-RSI is confirming the move with a break of it’s own trendline resistance.
-Sometimes these big trendline breaks takeoff right away, sometimes they trade sideways, and they can even come back to test the old trendline for support. I like buying any low volume pullback here, but if today’s high get’s taken out, that may be a sign that we’re in rally mode already.
http://onlycharts.com/
DGRI – Starting to Flirt with a Breakout, Time to Watch Closely
-There was a little testing of a breakout in the last 20 minutes of trading on Friday, but there wasn’t enough volume to break resistance and hold above it’s new support, so that puts us in the wait and see category for this week.
-.014 is still the breakout point that I see, so any close above that with some decent volume, or an intraday break with follow through.
http://onlycharts.com/
Found some good setups.
http://onlycharts.com/
This one already started to breakout today.
-Any time a long term trendline is broken, it’s usually a good idea to pay notice. This one was one and a half years in the making, and today’s break was on significant volume and closed above resistance with authority. Advantage: Bulls.
-RSI is confirming the move with a break of it’s own trendline resistance.
-Sometimes these big trendline breaks takeoff right away, sometimes they trade sideways, and they can even come back to test the old trendline for support. I like buying any low volume pullback here, but if today’s high get’s taken out, that may be a sign that we’re in rally mode already.
http://onlycharts.com/
JMBA – Long Term Symmetrical Triangle Pattern Testing it’s Trendline Resistance
-The price is butting right up against this long term resistance, and I can see it testing a breakout sooner or later. I’d like to see a tight consolidation range play out around here, either below, at, or above the trendline I drew. Definitely looks like something to keep an eye on.
-I can see it holding here and breaking out soon, but even a pullback here would keep the pattern intact, and it would give the support/dip buyers a chance to scoop up a position.
-I’d put the key resistance currently at 2.50, ideally a close above it with some decent volume.
http://onlycharts.com/
DGRI – Starting to Flirt with a Breakout, Time to Watch Closely
-There was a little testing of a breakout in the last 20 minutes of trading on Friday, but there wasn’t enough volume to break resistance and hold above it’s new support, so that puts us in the wait and see category for this week.
-.014 is still the breakout point that I see, so any close above that with some decent volume, or an intraday break with follow through.
http://onlycharts.com/
LBSR – Super Tight Consolidation in Progress, Watch for this Triangle to Break
-The long term picture looks bullish thanks to that huge move last year, and now the price has had a chance to consolidate it’s gains. Three straight months of incredibly tight trading has me thinking this could pop hard in one direction or the other, let’s hope it’s up.
-RSI looks bullish since it’s trading above the recent trendline since February. Hopefully this is an indication of a breakout in price coming up.
http://onlycharts.com/
EFLN – Sweet Consolidation Taking Place Near the Top of it’s Channel
-Long term: I love how the past two months the price has stayed trading above the major resistance from the six months prior to that.
-Short term: I love the price banging on this .0014 resistance. The two month descending trendline was the initial trigger point I was watching, but the .0014 line is the real line in the sand that separates us from a breakout.
http://onlycharts.com/
LLEG – Tight Consolidation is Starting to Breakdown, Can it Still Make a Breakout Attempt?
-The price tightened and coiled up for months and months, and now it’s finally starting to break……… to the down side. This post breakdown consolidation should be watched closely. If it breaks to a new low, get out of the way. If it breaks back above resistance with some volume, I think it’s going to run.
-Key resistance is now in the .0049 – .005 range.
http://onlycharts.com/
IWEB – Broke Out of a Symmetrical Triangle, Has Been Consolidating on Support
-On a longer term scale, the symmetrical triangle breakout is a great reason to start looking for an entry. On a shorter term note, I want to see the most recent high point at .25 broken, which is what I’m looking at for a trigger right now.
http://onlycharts.com/
ATEC – Coming Back to Test Support After the Ascending Triangle Breakout
Things looked wide open last week when it was about to take off and start filling the gap, but it decided to come back and test support. We’ll see if support holds.
-RSI is now trading below some pretty key resistance, so I’d like to see it bounce here and get back above that trendline.
http://onlycharts.com/
WLGC – Bullish Consolidation on Top of the Key Moving Averages
-This has been struggling to build a base since it broke out last summer, and after eight months it looks like it’s been able to accomplish that.
-Healthy little spike in volume recently, which compliments the price breaking above the 50 and 200 MAs. .26 looks like resistance at the moment.
http://onlycharts.com/
-After a couple of candles traded on the north side of the channel, the breakout was quickly rejected on some heavy selling. I like going short on any test of resistance/ gap fill, but the other option is to go short if the price breaks to new recent lows. Ideally if the play is to short on new lows, we first consolidate here for a little while, then get the break of support.
http://onlycharts.com/
Long Channel Recently Broke Out, Now Trying to Bounce Off of Support
-Solid breakout in early April that quickly reversed and has come back to test the old breakout range for some support. It often works out that the more significant the support or resistance that’s been broken, the more likely the price is to come back and test it, so this move is pretty much textbook so far considering it broke out of a 8 month channel. The price has slightly dipped under the support, but I’d take a convincing move back above it as a strong buy signal. It’s just starting to test resistance, so we’ll see if this has any follow through.
-RSI is testing it’s support trendline just like the price is, so there’s no hidden weakness I’m seeing.
http://onlycharts.com
It’s a tight descending triangle looking like it’s starting to test it’s resistance. I love these long term patterns that play out, since they can often produce some pretty sustainable rallies.
-It’s knocking on resistance, but make sure you see an uptick in volume along with any breakout.
http://onlycharts.com/
Ugh, same here. Now watch it finally bounce without us.
-I like how the price has broken to a new trading range the past couple months and has consolidated here. There seems to be clear trendline resistance that the price keeps knocking into, so I’d watch for a strong move if the buyers can overtake that point.
-RSI already seems to be hinting at some underlying strength here, with the recent break of that RSI trendline.
http://onlycharts.com/
Possible Run on a Break of This Trendline & the 200 MA?
-This could be bottoming after two years of selling, so maybe it could have some significant upside to it.
-Ideally I want to see some more consolidation, then a break of the trendline and 200 MA, along with a healthy spike in volume.
http://onlycharts.com/
-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/
FWIW, this guy thinks it could bounce soon.
I drew out the inverse head and shoulders pattern, and confirmation would be a break of that neckline I drew, which coincidentally lines up nicely with the 50 MA. That makes the resistance at that level a bit more significant, which would also means more conviction if the bulls can trigger this setup.
-Like always, watch for some confirming volume on any break attempt.
-Hammer and bullish harami on the daily chart today, that might mark a bottom to this shoulder.
http://onlycharts.com/
Descending Triangle Reaching it’s Apex
-It’s a gold play and it’s a tight descending triangle looking like it’s starting to test it’s resistance. I love these long term patterns that play out, since they can often produce some pretty sustainable rallies.
-It’s knocking on resistance, but make sure you see an uptick in volume along with any breakout.
http://onlycharts.com/2011/05/04/dgri-descending-triangle-reaching-its-apex/
Well, it certainly did explode today….. then totally give back most of it's gains. All in all a crazy day, with far and away the most volume it's traded in a session.
Negatives: Take one look at the chart and you'll see today's wick sticking out like a sore thumb, and the volume really makes it impossible to miss. The buyers were in total control and pushed the price up 100% with ease, then the sellers stepped in and whacked it all the way back down. It was a great initial move by the bulls, but the bears get the points for negating most of the rally and controlling the last 2/3 of the day.
Positives: The stock did close up 15%, and it's now trading squarely above the 15 EMA. Also, the RSI finally broke above the trendline resistance I'd been watching for a couple weeks now, which puts the chart into an "overall bullish position" by my analysis. At this point, further healthy consolidation on top of the 15 EMA and on the RSI/ above it's new trendline support, would be considered bullish by myself. Every once in a while a stock will make a second push right away after the first one get's rejected, but it's probably much more common to see consolidation before the second attempt.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/
I'm here and loving it! Hopefully our next stop is penny land after this pullback.
I like the overall setup because the price broke out of the symmetrical triangle in March, so now I'm watching for a solid trigger to take. I like the consolidation and wouldn't mind it tightening up even more, then maybe it'll try to break through this upcoming resistance. Right now, .25 is the next line in the sand to watch.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/#p164
About a month ago this broke out of an ascending triangle, and since then it tested support and consolidated on top of it's new support. Now this past week the price broke out of this most recent little consolidation range, though I don't really see a pickup in volume yet, which always worries me a little. Hopefully it starts to make it's way to new highs again, then the volume starts to ramp up.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/
This guy's playing hardball with the old fakeout breakout. Last week the price tested resistance, even temporarily blasted well past it, but has since come back down to test support. This would be the argument against being aggressive and playing a breakout without a confirming close above resistance. However, the next time you try it that way, that first confirming candle is going to finish strong and close way above resistance, so you can get screwed either way. If you played this thinking it was going to breakout and run right away, then I don't blame you if you got stopped out, but I'm keeping it on the watchlist for now. Ideally the 15 EMA holds up, and at least that last April low should hold, and then maybe it'll try for another breakout in a little while.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/
Since this is a bounce play, it's not going to be as easy to describe why I consider the overall setup to be bullish, considering one of my main criteria for bounce plays is a severe downtrend. This is a type of setup where I think an indicator like RSI can come in extra handy, since it might be able to alert you to some strength in the price action that may be difficult to notice. One example is with bullish divergence, where the price is setting new lows but the RSI fails to do the same, or may even form higher lows. Starting with the low from last December and moving down the ladder, look at all the new lows the price made in the past four months, then compare those points to what the RSI did at the same time. Steep lower lows on the price, but a steady series of slightly higher lows in the RSI, which is a big difference. The main thing I want to see now is for the trendline resistance to be broken on the RSI, along with some volume to go with it. There's little to no volume coming in right now, but considering how close the RSI is to breaking loose and how thin the asking sellers have been the past few weeks, I know it shouldn't take much to get the party started. First: RSI trendline needs to break (w/ vol). That would get my attention. Second: Resistance around the 50 MA needs to break. If that looks convincing, that could be a buy signal.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/
The breakout and rally from last summer on this was pretty ridiculous, going from low double zeros up to .20 in a short period of time. Since it topped out last September, it's pulled back and consolidated for a solid eight months, which makes sense if you consider the magnitude of the rally. Now the past three months the price has tightened up considerably and looks close to popping, and the RSI is confirming that sentiment with it's behavior. Notice how the price is still trading below it's recent trendline resistance, but the RSI is trading above the trendline from that exact same period. I'd put the trigger right on a break of that trendline and 50 MA range, so we'll say .33 needs to break.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/
What I like about the overall setup here is how the price has been trading in a pretty tight range the past two months, right near the top of the trading range from the prior six months. Up until March, .001 was the highest close since last summer, and for the past two month the price has more or less stayed above that point. It's a very bullish sign to me, so I think the next buy signal should have a good chance of success. I had the trigger point at .0012 up until now, but since it's a descending trendline for resistance, it's now getting closer to .0011. That's where it closed at on Friday, so it may be in play this week.
http://onlycharts.com/forum-3/flipping-penny-stocks/flipping-penny-stocks-weekend-watchlist-update-may-2-6/
One of the first things I look at when I quickly glance at a chart is the price in relation to itself, or more specifically where it's been at recently. I like to look for support, resistance, and especially if those two can highlight a nice channel that's ideally getting tighter and tighter. Finally, I want to see where the most recent trading range is compared to the trading ranges prior to it, and I'm specifically looking for ones that are hanging out near (below, at, or above) prior peaks. With that in mind, look at EFLN and the overall price action. In Oct, it rallied a bit, hit the .001 range, then topped out. Four months later, a lot of volume came in, temporarily pushed the price past .001 up to .002, then was instantly rejected. While the move had more strength that the Oct push, it didn't have any staying power, so it was only a moderate improvement. Now in March there's a very noticeable but not too crazy increase in volume that pushed the price clearly above the prior trading channel, where now it's consolidating in the range that was rejected on the January push. Not only didn't it make a move, but it's still holding onto a respectable percentage of the gains. So those three pushes I mentioned are all steps in the right direction that are highlighting some strength in the price action, but the trading range is continually getting tighter still (best of both worlds: bullish strength + price not being overextended). If we see volume and a break of .0012, then I think this could pop.
http://onlycharts.com/forum-3/flipping-penny-stocks/weekend-watchlist-update-april-25-29/
I like how the price has coiled up into a tight symmetrical triangle, but I especially like the bullish action on the RSI, could be a major tip off as to what direction the price breaks from the triangle.
http://onlycharts.com/forum-3/flipping-penny-stocks/weekend-watchlist-update-april-25-29/
APPY – This broke out of the ascending triangle last month and is now back testing the old resistance for new support, which as we all know is an excellent time (as far as risk to reward goes) to try for an entry. I could see just picking some up here and giving it a bit of wiggle room, otherwise wait to see any type of strength here and hope some momentum follows right away.
IMMU – There's a nice six+ month symmetrical triangle forming here on the weekly, so it could be a big move setting up. It'll probably easier to time an entry off of the daily chart, but be aware of a weekly close above that trendline resistance.
Found these setups with charts and more over at the forums here.
http://onlycharts.com/forum-3/stockfetcher-scans-and-members-watchlists/sis-setups-below-5/
If you go through those threads, you'll see tons of current setups, plus lot's of educational material to read.
If all they were about was selling shares, then they would have raised the float a lot higher and a long time ago. It's been at 114 million for a while now, and I think that we're looking at a bottom here.
NED is one to watch. Ideally it can consolidate a bit more, then see a pickup in volume on a break of this resistance here around the 200 MA.
DEJ is another one to keep an eye on, though this one doesn't look to be as close to breaking out as NED. Based on the weekly and daily, it seems like it could consolidate a while longer in this range, but check out the weekly chart for a good idea of what's setting up.
Found both of these setups here w/ charts:
http://onlycharts.com/forum-3/stockfetcher-scans-and-members-watchlists/sis-setups-below-5/
Hmm, try this one then, not sure why that other one stopped working. http://onlycharts.com/?page_id=594/current-setups-patterns-and-members-watchlists/
Like I said, found that setup in this watchlist area, but there's some good informative reading material here too.
Gorgeous ascending triangle setup on RTIX. I found it over at this place. http://onlycharts.com/forum-3/current-setups-patterns-and-members-watchlists/sis-setups-below-5/#p26
Some pretty good reading material there too if you're looking for chart stuff and have some time to kill.