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+--- Thread: Stage Analysis Beginners Questions (/Thread-Stage-Analysis-Beginners-Questions)
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RE: Stage Analysis Beginners Questions-anx.to - isatrader - 2020-07-05
(2020-07-05, 03:14 PM)marry123 Wrote: Hello,
I was hoping to receive input on where the proper buy point was/is for ANX.TO (gold miner).
Was the proper entry long at around 28 cents (I did not buy yet) and if it was around 28 cents would one wait to enter if it back tests around 0.28-0.30 or still not too stretched from the proper entry to buy at current level?
Thanks as always for your help.
The pivot point from January was at 28.5. So I would have said the first daily close above that on the 9th June at 0.29 would have been the entry point imo.
Also be careful of the spread on micro cap stocks. This has a spread over 1%.
RE: Stage Analysis Beginners Questions- SAM.TO - malaguti - 2020-07-05
(2020-06-30, 08:57 PM)marry123 Wrote: Hi,I think it has already, in my view there was resistance at the first red line, close to the original push through the MA, then price reacted to this resistance..albeit only slightly, then pushed through..thats the first sign
I was just wondering if this has broken out into stage 2a? It broke out from a long base on very good volume on the weekly chart so I assume this is a buy around current level?
Thank you for your comments.
then at the second pullback (and second sign), by now the 10MA has crossed the 30 (3rd sign), and past its second line of potential support which also happens to coincide with the weekly ichimoku
it has more resistance coming up for sure as its had a pretty rough history of constantly swinging up and down in a very large range
Hope this helps marry
RE: Stage Analysis Beginners Questions- SAM.TO - marry123 - 2020-07-05
(2020-07-05, 04:12 PM)malaguti Wrote:(2020-06-30, 08:57 PM)marry123 Wrote: Hi,I think it has already, in my view there was resistance at the first red line, close to the original push through the MA, then price reacted to this resistance..albeit only slightly, then pushed through..thats the first sign
I was just wondering if this has broken out into stage 2a? It broke out from a long base on very good volume on the weekly chart so I assume this is a buy around current level?
Thank you for your comments.
then at the second pullback (and second sign), by now the 10MA has crossed the 30 (3rd sign), and past its second line of potential support which also happens to coincide with the weekly ichimoku
it has more resistance coming up for sure as its had a pretty rough history of constantly swinging up and down in a very large range
Hope this helps marry
Thanks Malaguti for pointing out proper entry points. I won't chase it now but may look at it if it pulls back. It will be interesting to see what gold does now that it is around triple resistance of 1800 going back many years.
RE: Stage Analysis Beginners Questions-imp.to - marry123 - 2020-07-07
Hello,
I was hoping to confirm whether the correct entry long is a break of the trendline (around 0.50). It has built a nice double bottom base for a year now so I a assume the trigger long is a break of the trendline over 50 cents on a weekly closing basis (I guess perhaps one could have bought it on a break of around 0.35 but then there is that large trendline that still needs to be broken).
Thank you.
RE: Stage Analysis Beginners Questions-imp.to - isatrader - 2020-07-07
(2020-07-07, 04:39 PM)marry123 Wrote: Hello,
I was hoping to confirm whether the correct entry long is a break of the trendline (around 0.50). It has built a nice double bottom base for a year now so I a assume the trigger long is a break of the trendline over 50 cents on a weekly closing basis (I guess perhaps one could have bought it on a break of around 0.35 but then there is that large trendline that still needs to be broken).
Thank you.
The Stage 2A breakout level was at 0.39, so it's through both the buy level and the initial pullback level, as it is already about 20% above that currently.
My main concern with a stock like this is again the bid ask spread, which from looking at todays trades has ranged between 2 to 6.5%. So this means that you immediately start the trade -6.5% down plus trade entry and exit costs. Spreads like this will eat your account alive over time.
So I'd recommend focusing on stocks with much more liquidity, and that have a very tight bid-ask spread of a maximum of 1%. But ideally less than 0.25%. As trading costs are one of the biggest factors to consider if you want to be successful.
Filter out all stocks below $5 and that have average volume of less than 400,000 shares a day as a starting point. As penny stocks are not a good idea.
RE: Stage Analysis Beginners Questions-imp.to - marry123 - 2020-07-07
(2020-07-07, 05:38 PM)isatrader Wrote:(2020-07-07, 04:39 PM)marry123 Wrote: Hello,
I was hoping to confirm whether the correct entry long is a break of the trendline (around 0.50). It has built a nice double bottom base for a year now so I a assume the trigger long is a break of the trendline over 50 cents on a weekly closing basis (I guess perhaps one could have bought it on a break of around 0.35 but then there is that large trendline that still needs to be broken).
Thank you.
The Stage 2A breakout level was at 0.39, so it's through both the buy level and the initial pullback level, as it is already about 20% above that currently.
My main concern with a stock like this is again the bid ask spread, which from looking at todays trades has ranged between 2 to 6.5%. So this means that you immediately start the trade -6.5% down plus trade entry and exit costs. Spreads like this will eat your account alive over time.
So I'd recommend focusing on stocks with much more liquidity, and that have a very tight bid-ask spread of a maximum of 1%. But ideally less than 0.25%. As trading costs are one of the biggest factors to consider if you want to be successful.
Filter out all stocks below $5 and that have average volume of less than 400,000 shares a day as a starting point. As penny stocks are not a good idea.
Thanks Isa for pointing out the proper buy point. I will focus on stocks that are above $5 with volume over 400, 000 as you suggest, in addition to small spreads. I realize these penny stocks are very risky and can collapse as quickly as they go up.
RE: Daily P&F Breakouts and Breakdowns in the US Market - komputeridiat - 2020-07-14
Hello, I'm hoping to get some feedback on my screening for potential breakouts
These are 4 tickers from Recreational Products/Leisure:
YETI, BC, PII, and FOXF.
They all feature above and rising 200 days MA and >0 relative strength to SP500. The trendlines for all approximately 1-2+ years.
Yeti has technically already broke out with some weird volumes. Weekly volumes don't seem that impressive and seems false, however daily volume was more than 2x the prior 5 days at 2nd day of breakout.
I'm seeing potential breakout for BC, PII, and FOXF at $66.125, $105.62, $90.125 respectively and stop losses at 18, 16, 14 percents respectively.
YETI if bought at 41.5ish can be stop lossed at 20 percent.
While they all seem great, PII seems the best out of all.
What do you think?
RE: potential breakouts - isatrader - 2020-07-14
(2020-07-14, 07:25 PM)komputeridiat Wrote: Hello, I'm hoping to get some feedback on my screening for potential breakouts
These are 4 tickers from Recreational Products/Leisure:
YETI, BC, PII, and FOXF.
They all feature above and rising 200 days MA and >0 relative strength to SP500. The trendlines for all approximately 1-2+ years.
Yeti has technically already broke out with some weird volumes. Weekly volumes don't seem that impressive and seems false, however daily volume was more than 2x the prior 5 days at 2nd day of breakout.
I'm seeing potential breakout for BC, PII, and FOXF at $66.125, $105.62, $90.125 respectively and stop losses at 18, 16, 14 percents respectively.
YETI if bought at 41.5ish can be stop lossed at 20 percent.
While they all seem great, PII seems the best out of all.
What do you think?
Hi komputeridiat, welcome to the site. I moved the post to the Beginners Questions thread
YETI is on my focus list currently as I did a big post on twitter at the weekend as it has strong fundamentals as well as a reasonable technical pattern and is in one of the strongest groups, that's been strengthening consistently for the last month or so.
Here's a post I did on twitter that has more details: https://twitter.com/stageanalysis/status/1282440004715851778
The breakout point would be a close above 45.18 imo, but I'd want to see a breakout on increased volume.
From a Stage Analysis perspective YETI is the strongest, as it's making new all time highs with no overhead resistance, whereas PII is still just under the YTD high and still -30% or so below it's all time high. Relative strength is weaker also, but it is making a good looking cup and handle pattern. BC is similar, but closer to its highs, and FOXF is the group leader with the strongest IBD composite ranting, with YETI the second in the group.
As they are all quite similar patterns in the same group I would do a relative strength comparison of the stocks to each other, so you can use the Mansfield Relative Strength, and change the comparison to each stock, and then see which is the strongest, and you would simply wait for a proper entry point.