Buying up some Bullish Stock Charts for A Change. About Time!
Dec 31, 2008 Small Cap Stock Picks, Technical Analysis
Its been a while since i’ve seen any decent chart patterns in the stock market as since september the price movements in stocks were completely irrational and nearly impossible to predict as some new PR would cause hysteria in the markets just about every other day swinging the market in either direction yet mostly down.
Now it seems we’ve found some stabilization as stocks have cooled off a bit and chart patterns are beginning to normalize instead of looking at a chart and saying… What the fuck am i supposed to do with that?
Small cap Stock Pick Numero Uno : ????
Looking back at this chart since since there wasn’t much you could do with this stock chart as it was gapping up and down all over the place… Any short term trade that was a success was a matter of luck… Yet now we’ve had some “normal” price movements in the past couple weeks which havbe formed a bullish ascending triangle in this case. Looking at the chart here i think its very possible we could see this move back up and re-test the $100 resistance zone which would post a nice gain from here around $80. I’m going to fill a 1/2 position here Wednesday morning to test the waters and see what kind of action we can get using technical analysis here starting in 2009.
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Small Cap Stock pick #2 - ????
Next stock pick we’re looking at broke out from a symmetrical triangle pattern breaking out of resistance around $4/share horizontally. Though this made a pretty large move tuesday so will be looking to buy a position in this stock on a pullback near the midpoint of the breakout candle, which would be around $4/share. Volume was significant on this breakout indicating a higher probability of a continuation north from here. Looking to buy this wednesday on a pullback near $4/share
