We have a number of further stocks in recovery situations finally, after
a few weeks of lean pickings in the sense of waiting for breakouts from
cuv is one possibility, chart attached. Note how mid points create the
next tops and bottoms off past highs and lows. A break of the past tops
now and out of accumulation should see this stock attempt a move back to
the mid point of the extremes where news can be expected. (Do note,
this works better with stocks that have earnings, biotech and spec
mining stocks tend to spike a little more, however the mid points here
are working well.)
Same can be said for elx. Buying breaks of a sideways move are good
opportunities to take, a classic but simple and effective Gann trading
technique. Trade in the direction of the break.
So, along these lines, have a look at:
wal, watch the mid points on the way up
evz (bit thin), interesting volume building on the triangle, but again I
would rather see such a triangle near a past all time high of some time
itc has possibilities
alu, asz, although these are not clear accumulation examples.
Remember also, breaks into all time new highs tend to go higher, faster,
since there is no overhead resistance to slow down the move.
vhl, a flag forming, after a clear price and time overbalance, indicates
a change of trend now to the upside.
One stock to keep an eye on for a break into all time new highs, phk,
into water filtration, key concern for future years if they get their
technology right. Remember here, this is where gann can be really
helpful: there is no need to buy whilst the stock goes sideways below
the highs, wait for others in the market to tell you better fundamental
are arriving soon when buying forces price into an all time high. Said
Gann, never be in a hurry to buy, wait for the market to show its
direction. You can be sure insiders will know when this stock is going
to produce good news, they will force the price up. We just get on for
the ride by buying the break. And there is only 130 million shares on
issue: if the company gets it right, price will do the right thing for
buyers of the break.
So make use of STEX and put an alert on, just below those highs, and do
nothing else till it goes off.