AI
Friday, July 30, 2010 6:51:26 PM
To me the KATX chart now looks very nearly ready for another leap forwards...
Note the falling volume showing market indecision... to buy or to sell? No one can decide, so no one has been doing much of either. But now we're at the thin end of a near perfect falling wedge pattern*, so indecision time will shortly be over and we are very likely to see the market make its mind up one way or the other. The pattern indicates to me that the move will be upwards, with the timing set for any time next week or perhaps middle of the week after next at the very latest.
So purely on the technicals "we good", but of course just by chance the fundamentals all point to the same thing - big news to be released in the next week to two weeks.
Coincidence? :o)
All the above IMO of course!
*Falling wedge pattern - http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge
Note the falling volume showing market indecision... to buy or to sell? No one can decide, so no one has been doing much of either. But now we're at the thin end of a near perfect falling wedge pattern*, so indecision time will shortly be over and we are very likely to see the market make its mind up one way or the other. The pattern indicates to me that the move will be upwards, with the timing set for any time next week or perhaps middle of the week after next at the very latest.
So purely on the technicals "we good", but of course just by chance the fundamentals all point to the same thing - big news to be released in the next week to two weeks.
Coincidence? :o)
All the above IMO of course!
*Falling wedge pattern - http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge
