I'm actually a sheep on this one from a reco by eztradin. He just had a beauty that took awhile. EVSI. I'm also waiting on VIGSF. Check out the following thread and educational IBox by Bill Panetta. He is a very good teacher whose technicals really let you know where you are in a stock--namely when to buy and sell. From his point of view, it is way early to buy HYTT but it could have potential when the news comes out. The set up is there in terms of the slow stoch (66,5,3) being above 50 and could move above 65 when it breaks out--an important indicator for a big momo move. And the MACD is hovering just below zero. Good luck. http://www.investorshub.com/boards/board.asp?board_id=2059
The thread is called Break Out Trading. Particularly check out
These sections:
BOT's FOCUS STOCKS: (1) Break Out Stock Setups: Stocks that consolidate near the upperside of the Bollinger Bands with the 5&10 moving averages acting as support. These tend to be the best setups for a big run on a break out. (2) We look for stocks that are trending above the 32 DMA Why? This is our Weekly Mommentum indicator, it puts us on the right side of the trade. Its our conformation of a strong trend. We look for stocks making higher highs & higher lows. (3) THE POWER OF THE 200 DAY MOVING AVERAGE Stocks that trade above the 200 DMA triggers a change in the long term trend, a trend reversal. (4) Break Out Trends - 200 DMA Stocks that are within 3% of breaking the 200 DMA on a daily chart. These are very explosive break outs Examples: UVCL 10/03, CESY 10/03, IVOC 09/03, ADOT 10/03 - Study those charts & you will see what happens when a stock crosses the 200 DMA. (5) Break Out Channel Stocks Stocks that has been basing in a channel for 6-12 months then break through top channel prices (i.e. SFAD chart Jan to July 2003)
HOW DO WE KNOW WHEN THE SHORT TERM MOMENTUM IS BREAKING DOWN: (1) Stocks Breaking Below 5 & 10 DMA Once a stock breaks below the 5 & 10 DMA in an uptrend, historically, the stock will tend to go into a short term consolidation pattern like 2-6 weeks, one can expect to see some kind of Symmetrical Triangle chart formation during this period of consolidation. It should also stay above the 32 day moving average during this period for conformation as well. Go to http://www.chartpatterns.com for education on chart patterns.
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