RE: potential breakouts
(2020-07-14, 08:57 PM)komputeridiat Wrote: Why do you think it's 45.18 for Yeti's breakout? It already crossed the trendline albeit the volume is a bit weak.
It's forming what's known as a base on base pattern, as it broke out from a cup pattern without forming a handle, and so looks to be forming a high handle currently, and so the new breakout level is the pivot high of the handle.
(2020-07-14, 08:57 PM)komputeridiat Wrote: None of the other three has t broken yet, so if it did, wouldn't they all be potentially good stop buys?
They are all good potential setups in a strong group. And so any maybe a good potential buy if the volume comes in the breakout.
(2020-07-14, 08:57 PM)komputeridiat Wrote: Although Stan did value RS, he did not really mention what should be the actual values rather than their trends. He even said that the improving negative RS can also be considered a buy if it crosses the 0 line. However, he did mention the downside risk being important if all else being equal, stocks should be bought with a < 15% sell stop. Wouldn't FOXF and PII be great for that?
It depends which method you are using. The Trader method or the Investor method. As both has different stop loss requirements. But yes FOXF and PII have tighter potential stop loss positions currently as they are closer to their 50 day MAs.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.