RE: US Stocks - Watchlist and Discussion (Premium)
(2015-12-10, 04:10 AM)mongoose1969 Wrote: OK...here is a new one. ZAGG appears to me that it's meeting all the requirements. Volume is up, price above 30 MA, MA trending up, relative strength heading in the right direction, price is above the "cloud". ProRealTime seems to show an upper resistance around $13.
Am I any closer to being better than 25% right?
You need to use the Logarithmic scale on your weekly charts and show the high and low prices, as you can't determine the suppport and resistance ranges otherwise, and it's very hard to see the true range of Stage 1 bases clearly without it.
Below I've attached a marked up chart for you, so you can see how I see the stock in terms of Stage Analysis, and to show that it's not just me marking it up with hindsight, I've attached the chart I posted on here on the 6th August 2014, that showed it was in early Stage 2A then, but still struggling through resistance. Which as we can see now with the updated chart that it took more than six months to get through the resistance and start to move higher. i.e. remember those opportunities costs again, as that's six months of your money tied up.
It recently made a new Stage 2 continuation breakout, but is very far from it's averages, and so would only be considered in the method currently imo, on a pullback towards support, as it's too far away from the trader and investor stop loss positions.
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.