CSGH chart: up-side break on a decending channel, typical pattern found on a lot of CGS stocks lately..the channel a short term bearish market perception that does not have anything to do individual stock fundamentals. (( this post is on CSGH chart thread ))
http://www.thestockbandit.com/descending-channel/ Descending Channel – Descending Channel Pattern Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices, but only after an upside penetration of the upper trend line. The stock will continue channeling downward until it is able to break either the upper or lower trend line. An upside break is bullish, while a downside break is bearish.
Context: Often found within an uptrend, but up close appears to be a minor downtrend. Appearance: This is a channeling stock with a downward tilt. The stock’s price action is controlled by two parallel trend lines. Above the stock is the primary descending trend line which connects consecutive lower highs. Beneath the stock is a secondary trend line, which also is descending as it connects consecutive lower lows. Price follows the path of least resistance in a descending channel, which is down. Upon reaching the lower trend line, the stock bounces until it reaches the upper trend line, which acts as resistance. Trading a descending channel in the most effective way is by waiting for an upside breakout to occur before entering.
Breakout Expectation: Channeling stocks within descending channels are only able to reverse course with an upside penetration of the primary descending trend line. The strength of this breakout, the duration of the channel, and the width of the channel will determine how far a breakout may carry. A downside breakout from a descending channel indicates a higher intensity of selling, and is a sell or short sell signal.
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