AI
Friday, February 20, 2004 9:55:36 AM
Shac, are you enjoying the action in GETC this week?
GETC had it largest volume day ever on Tuesday ending with a large move up on the day. Gapped open on Wednesday with a nice pull back during the day, but closing near the high. I believe GETC had a healthy correction/consolidation on Thursday and closing a couple pennies off the low of the day.
There are many indicators day traders may use to determine if the breakout is solid and will continue. One I find interesting is the 50% rules and this held Wednesday and Thursday.
The close on Thursday was .25 x .27 with last trade at .265. Before opened today, the MMs have moved to .25 x .30
GETC has been consolidating at the upper range after its breakout on volume. This is healthy.
The 50% rule is in play. It is a way to measure the strength when a stock is in a strong up trend.
When you get a wide and volitile candle bar the next day it should never take out more than 50% of the previous days action.
For the 50% rule not to be violated, GETC could pull back to the 23 cent area.
greatday8
GETC had it largest volume day ever on Tuesday ending with a large move up on the day. Gapped open on Wednesday with a nice pull back during the day, but closing near the high. I believe GETC had a healthy correction/consolidation on Thursday and closing a couple pennies off the low of the day.
There are many indicators day traders may use to determine if the breakout is solid and will continue. One I find interesting is the 50% rules and this held Wednesday and Thursday.
The close on Thursday was .25 x .27 with last trade at .265. Before opened today, the MMs have moved to .25 x .30
GETC has been consolidating at the upper range after its breakout on volume. This is healthy.
The 50% rule is in play. It is a way to measure the strength when a stock is in a strong up trend.
When you get a wide and volitile candle bar the next day it should never take out more than 50% of the previous days action.
For the 50% rule not to be violated, GETC could pull back to the 23 cent area.
greatday8
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