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Joannie

10,993 Posts.

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25/05/21

10:50

Post #: 53393908
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Originally posted by rick64: ↑

Thanks HLL.
@Joannie
Re; that stock you are in.
I am still holding an investment parcel, but am also trading it on a daily basis which is helping to lower my average. What started me selling some was the double top followed by the lower top which was a danger sign to me. At risk of sounding pedantic, IMO the guy who portrayed this chart as a channel is mistaken in that there is only one touch on the lower line and using that line seems to start nowhere (orange). The pink line is a more likely candidate for the channel as there are two touches on the bottom line and it has a start point but even then those two touches were adjacent and on the same day. To me this is a Symmetrical Triangle (white), which together with the prevailing trend (yellow) is probably (not certainly) a continuation pattern. Volume is falling which is a positive, we need to see rising volume if it breaks to the upside, which is what I suspect people are waiting for.
Overall I will be holding as do not want to be out when news drops.
https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:symmetrical_triangle_continuation
Sorry for the interruption guys but anything posted on the thread will get poo pooed if not positive.

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Thanks rick,
Joannie
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