Replies to post #103253 on Chart Patterns and Trends

[MrBigz]

Hey Allen and welcome to the board.

If you are interested in long term investments in penny stocks, then I'm afraid I'm not the person to ask for advice.

I don't believe in holding penny stocks long term, and believe most of them are scam companies with fake products and\or no real revenue and their primary objective is to print shares, dilute their stocks, enact reverse splits and do it all over again. Some are worse than others, and it is true that some are legit, but I just day trade or short term swing trade them.

If it is big board stocks you are interested in, then reply back and I may be able to help show you how to identify potential low risk\high reward long term trades, and can show you how to determine the key supports and resistances.

Basically, from a technical standpoint, you will want to find chart patterns (probably using weekly charts), and trade the pattern buying at or near the bottom of the trendline and selling if the stock cannot stay above that lower trendline.

If you are asking for code of some of my favorite scans\screeners, then I can provide them to you.

If you are interested in learning how to read and trade using charts, then I do have several videos I can post links to for you


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