Swing trading Canadian

[kirby49]

Don't know anything about the fundamentals or history of this stock, it just came up while I was scanning for possible shorts in the near future. Let us know what your DD turns up. The lines are the seven and twenty-one month simple moving averages. The usual 50 and 200 which come up on stockcharts are for dailies, so when used on long term weekly charts are themselves too long term. You could pick 10 and 50 month ma's or whatever you like. Notice that today though the high almost touched that previous high noted by the price label early in the year. No breakout, then gotta be a breakdown. Jesse's rules. Could also be a bottoming formation cup and handle forming and the handle will now form during accumulation and then breakout. Strange divergence and then convergence in the ADX indicator though has my gut churning that this whole run is a set up. If you look at the whole year 00, a long term cup and handle formed, but it became invalidated and broke down. During this time the ADX was showing the proper readings and it still broke down.

Ten thousand for a single board lot gives one little room to maneuver and with full margin will only get three board lots. Too rich for my blood, I'd rather play MFL!

So at least Vancouver will celebrate tonight. Time for bed.