RE: Stage Analysis Beginners Questions
(2020-08-30, 02:31 PM)ianbate222 Wrote: Hi Isa do you mind quick takes on well.to and abt.to both on tsx with very strong sctr scores. Well.to has solid fundamentals and is an online provider of healthcare but extended from 10 may by about 35% so guessing a buy if it pulls back. Abt.to is in the software space close to a rising 10ma so was thinking a buy above all time high of 16.81.
I appreciate your thoughts,
Ian
P.S still watching your lessons and slowly getting the hang of it but realize your eye can very quickly pick through charts worth looking at and those worth dismissing based on your experience.
Yes, you're getting the hang of it ABT.TO would potential be a buy if it met the criteria on a continuation above the recent high. WELL.TO is extended and starting to pullback, so a technique that I use is to go down to the 2 hour chart and use the same relative settings as the weekly chart, and do Stage Analysis on that timeframe.
So for example on the 2 hour chart you can see it's entered early Stage 4. So you would wait for the pullback to finish its Stage 4 decline and start to form a Stage 1 base on the 2 hour timeframe. Which once it had formed, would then give you the levels to watch for a potential intraday breakout on the 2 hour chart. Which would then be the pullback entry point on the higher daily/weekly timeframes.
I've attached the 2 hour chart so you can see what I'm referring to.
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.