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Re: moores2009 post# 3937

Friday, 07/25/2008 8:36:17 PM

Friday, July 25, 2008 8:36:17 PM

Post# of 10963
It was pointed out to me by someone in pm that the overall chart pattern in the chart I posted is a rising wedge pattern, (the lines show it,) that is a bearish reversal pattern, I will give the definition from stockcharts.com chart school. Hopefully we will break out of that pattern and keep on going up, but I dont want to mislead anybody by my comments on the chart.

(stockcharts.com)
Rising Wedge (Reversal)
The rising wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.

I hope everyone does well with this stock.
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