[Tryst]

It made it's second continuation move into Stage 2B imo last week after moving into stage 2A in October 2012 at 14.50p and is now retesting the recent breakout level, closing at 33.25p today, and hence has already had a Stage 2 advance of 129%.

Both levels of support that you've identified are fairly minor levels of support imo, as the breakout level only took a single attempt to break through it to the up side, and the 50 day MA can be support because a lot of people monitor it. So I think in this that there isn't any major level of support as it's also quite thinly traded, and hence you need to watch how the price reacts on this retest of the continuation breakout level. i.e. whether it stabilises and rebounds to new highs, and hence forms a lower risk entry point with potential for a close traders stop loss under the new swing low if that happens.

Thanks for the reply, Isatrader.

Looking at the charts breakout into Stage 2A, it pierced through the last stage 1 high made in March 2012 quite easily, pretty much in the same fashion as it has done last month (March 2014), though the support back in the first half of 2013 after the move into stage 2A looked to have held quite well, even though it took only one attempt break resistance and move into Stage 2A - the price even moved below the 30 week MA.

I know we touched on this in another thread not so long ago, but is it still classed as a staged 2B even though its broken out of the latest consolidation phase quite a bit away from its 30 week MA?

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Thanks ever so much for the reply to Tryst's message. This, looking at other systems, looks to have formed a classic Cup and Handle formation. Which, at the end of the day isn't too far removed from Weinstein's methods.

In fact, I have been devouring books of late and have looked at Livermore's methods and they all seem to follow similar patterns: wait for the breakout on volume, get in with a probe stake, go in again more when the next buy signal occurs and so on.

It a common thread in a lot of the books but I have to say the Livermore tends to be willing not to wait for the breakout for the initial bet sometimes if he thinks he's identified where the market has turned.

Hi MalcomSm1th, are you able to highlight on the NTBR chart where you are seeing the cup with a handle pattern? I can't see it myself on the weekly or daily.

Though, I can see one on a stock in the same sector which Isatrader has posted up recently, BEG.