Day trading pre-market open October 2, page-9

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novice mum

585 Posts.

17

02/10/19

08:07

Post #: 40676280
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Originally posted by taughtbuffet: ↑

y'know

you lot dont think i know much about TA

well. to prove you all wrong, i'm gunna post a chart and give my indepth technical analysis

JIN

my analysis

i have detected a "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on Jumbo Interactive Ltd . This bullish signal indicates that the stock price may rise from the close of 25.70 to the range of 29.50 - 30.50. The pattern formed over 16 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend. A Symmetrical Continuation Triangle (Bullish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend.

Pretty smart huh?

oh, who am i kidding?

i'm just cutting and pasting what @Pomodoro just posted on the JIN page

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Well if nothing else you certainly put a smile on our dials at least once a day (you could chart that) - go JIN!!
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