Sunday, July 24, 2005

Stock Charts Mania

stock charts mania gives me a chance to dump some charts that i've collected over the week. i really dont have any opinions or predictions on these charts, i just drew out random stuff that i noticed... so don't take these very seriously. i'll run through each chart with a few words to let you know why i put it up. on EEEE, i saw a shark fin pattern emerging on thinning volume. i believe there's an actual stock pattern thats called Shark Fin or something like that. i forgot whats supposed to happen when theres a shark fin pattern, so look it up if it interests you. it could also be a symmetrical triangle i think, depending how u look at it. i posted up QQQQ because i was just practicing charting it against the s&p to look for buy/sell triggers. neat trick. i wonder if someone can perform automated trading on QQQQ simply by following these triggers? ie, buy at a buy trigger, then sell/short at a sell trigger. that would be a nice way to make money while you sleep. i posted up ARO just because it has such a gappy chart. its going to need some more volume to prevent from falling through the current support. finally, i posted up SGMS because i was using it to look for patterns in the MACD. watch and see if SGMS will pullback to its trendline support or if it will finally rally through its double trendline resistance. i hope these random charts were helpful to someone. please come back in the next few days because i've held back a few awesome stock charts that i will write dedicated blogs about later. so, you should really bookmark my site, add it to your bloglines, or suscribe to the RSS feed so that you don't miss out on these $$$ charts.


Blogger Frank Chiu said...

"Shark Fin"? Looks like a symmetrical triangle to me. Symmetrical triangles are continuation patterns and the breakout would yield a target price of the height of the base of the triangle + the price where it broke out (top of descending line when price broke out. looks like this one woud break out $2.50/sh. If you notice the up/down days volume, It's easily seen that down days are like half of an up day's volume (don't look at the days with crazy spikes, volume may be misleading on those) and thus show the supply and demand for this stock (bullish sign).

7/24/2005 06:53:00 PM  

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