(2020-01-22, 09:15 PM)isatrader Wrote:

(2020-01-22, 07:52 PM)Haugaard Wrote: I'm really liking Aphria right here. Breaking out above the neckline of a inverse head and shoulder formation and a flattening 150MA. Volume seems to be good, but not confirmed yet.

I'm concerned about the near overhead resistance and the overall negative sentiment on the sector. Both the MJ and HMMJ is trending down under it's 150 MA.

https://imgur.com/a/gXtxhu0

I'd like some opinions on this one.

It breaks a number of the method rules at the moment, especially the heavy near term resistance and still declining 30 week MA It's also still below a declining 200 day MA. Refer to page 96 in the book on resistance and you'll note a very similar chart pattern to APHA. 

So although the pattern you mentioned looks promising on a daily chart, on a weekly chart it looks less so imo. As you generally want to see a minimum of 6 months of basing in Stage 1, in order to let the resistance dissipate. So if you are looking at a daily chart then the moving average should be flattening for multiple months before the breakout and ideally have been rising for a bit. So you shouldn't see it down-sloping except at the very left edge of the daily chart. You also want to see impressive volume of at least 2x the weekly average if it breaks out, especially if it breaks out early. In which case you'd want to see much more than that for it to have the strength to move through the resistance.

I don't want to influence you if you are trading it, as it could breakout early as its a nice daily pattern. But in terms of the method it's only just starting to build a fledgling weekly Stage 1 base.

(2020-01-23, 03:19 PM)alphatech Wrote: ISA, I know I already said it and you must be tired to hear it :-) but this is very helpful.  How difficult would be to graph the sector below the stock so we can easy identify both stock and sector.  Thanks.

(2020-01-24, 12:15 AM)isatrader Wrote: I've been noticing multiple bonds charts breaking out of their consolidation patterns that have formed since September time, and tonight I'm highlighting multiple US Treasury charts in the watchlist as they are all showing potential to make a Stage 2 continuation attempt to new highs too. So could be some rotation occurring as stocks have been running hot for while.