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Thursday, September 17, 2009 9:05:43 PM
WAMUQ ANNOTATED CHART****
WAMUQ has been basing for a while ever since the gap down, the longer the base the larger the move on the breakout. It technically triggered as a breakout today with a close above .20, but I'm looking for a break of .21 with large volume to confirm (High of the 8/31). Remember this gapped down so there is no technical data of where buyers and sellers are likely to load up on more shares or take profits in the area of the red arrows. So trade what the chart is showing you, not what you think/hope will happen. Think of it as a blue sky breakout. A very bullish signal occurred recently, the stock trading above the 200MA which is now uptrending, hasn’t happened in a while. Everything is primed for a breakout, RSI in powerzone, MACD bounced off the signal line, intradays. G/L lets hope for a breakout tomorrow.
WAMUQ has been basing for a while ever since the gap down, the longer the base the larger the move on the breakout. It technically triggered as a breakout today with a close above .20, but I'm looking for a break of .21 with large volume to confirm (High of the 8/31). Remember this gapped down so there is no technical data of where buyers and sellers are likely to load up on more shares or take profits in the area of the red arrows. So trade what the chart is showing you, not what you think/hope will happen. Think of it as a blue sky breakout. A very bullish signal occurred recently, the stock trading above the 200MA which is now uptrending, hasn’t happened in a while. Everything is primed for a breakout, RSI in powerzone, MACD bounced off the signal line, intradays. G/L lets hope for a breakout tomorrow.
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Ron Paul
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