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RE: Stage Analysis Beginners Questions-ROS.V - malaguti - 2019-06-30
(2019-06-30, 04:43 PM)briansmith456 Wrote: Hi,
I was hoping someone could look at ROS.V.
It had a 2 yr base and broke out big on huge volume and now is testing the 30 ema (fell on large vol to roughly 30 ema area-perhaps the large volume pullback is a red flag?).
When would one look to buy this given it looks like it is an opportunity to buy here as it retests the 30 ema area. It is a mining stock.
Thanks for your help,
Brian
it is indeed retesting the 30sma, however it has already done this not so long ago in April, when volume was retreating
now its back there again, having never got to the previous high, and this time volume increasing on the downside.
not good.
volume notwithstanding, the fact that price has failed to reach previous highs, after pullback if anything is an inherent sign of weakness
when would you look to reenter...when would you suggest?
where does price need to go to tell you its heading in the direction you want?
RE: Stage Analysis Beginners Questions - moneymaker - 2019-06-30
(2019-06-30, 02:38 PM)malaguti Wrote: Indeed correct, the last resistance (often the last high) will prove to be the breakout point. and then volume is supposed to confirm this breakout. please though go through the threads as has been mentioned on here, the ichimoku cloud (especially on the daily) will also highlight potential resistance. somewhat uncannily.
mark these on your charts, and then you're questions will help you, and help us in getting to the answers quicker
ISA has on his threads a 10 point checklist. go through them and at least have your own ranking criteria
we are happy to help, even though i gave you a hard time. its not for my ego but your journey.
My purpose on this forum is to learn, and I will be grateful to anyone willing to answer one of my posts, in whichever way they want. So don't worry about giving me a hard time, and thank you for sharing your knowledge.
I have a tendency to get excited when I see large volumes. But you helped me understand that I shouldn't buy on high volumes, but on breakouts confirmed by large volumes.
RE: Stage Analysis Beginners Questions-ROS.V - briansmith456 - 2019-06-30
(2019-06-30, 04:52 PM)malaguti Wrote:(2019-06-30, 04:43 PM)briansmith456 Wrote: Hi,
I was hoping someone could look at ROS.V.
It had a 2 yr base and broke out big on huge volume and now is testing the 30 ema (fell on large vol to roughly 30 ema area-perhaps the large volume pullback is a red flag?).
When would one look to buy this given it looks like it is an opportunity to buy here as it retests the 30 ema area. It is a mining stock.
Thanks for your help,
Brian
it is indeed retesting the 30sma, however it has already done this not so long ago in April, when volume was retreating
now its back there again, having never got to the previous high, and this time volume increasing on the downside.
not good.
volume notwithstanding, the fact that price has failed to reach previous highs, after pullback if anything is an inherent sign of weakness
when would you look to reenter...when would you suggest?
where does price need to go to tell you its heading in the direction you want?
Thanks Malaguti for raising the red flags. I was thinking enter if it bounces of the 30 ema but I guess with the red flags you raise that in itself would not warrant an entry, even if it does hit the 30 ema and start a bounce off of it.
Brian
RE: Stage Analysis Beginners Questions-MAI.V - briansmith456 - 2019-06-30
This mining stock has had massive volume. It is not too extended from the 30 ema (30 ema, 30 sma and 10 sma are turning up on weekly chart). I would look to buy if it breaks above 0.14 cents (right above the top of the cloud).
Price line is greater than SPX so it looks like this one is breaking out if I am not mistaken?
Thanks for pointing out any red flags or incorrect assumptions on my part. One of these days I hope to post a chart that is indeed worthy of a Stan Weinstein entry long.
Brian
RE: Stage Analysis Beginners Questions-MAI.V - malaguti - 2019-06-30
(2019-06-30, 07:32 PM)briansmith456 Wrote: This mining stock has had massive volume. It is not too extended from the 30 ema (30 ema, 30 sma and 10 sma are turning up on weekly chart). I would look to buy if it breaks above 0.14 cents (right above the top of the cloud).
Price line is greater than SPX so it looks like this one is breaking out if I am not mistaken?
Thanks for pointing out any red flags or incorrect assumptions on my part. One of these days I hope to post a chart that is indeed worthy of a Stan Weinstein entry long.
Brian
A very good pick in my opinion. I'd argue it has already entered stage 2
if you wait for a break of the cloud, you are waiting for a further 16% advance in price. if the sector is strong I'd be looking for it to close above 0.12
you could always enter half and then wait for a pullback and further break above the cloud. just a suggestion, but well done for a good example
the only negatives, are the multiple resistance points along the way.
0.16 looks rather ominous
RE: Stage Analysis Beginners Questions-MAI.V - briansmith456 - 2019-06-30
(2019-06-30, 07:59 PM)malaguti Wrote:Thanks for your suggestion, I appreciate the good point you made.(2019-06-30, 07:32 PM)briansmith456 Wrote: This mining stock has had massive volume. It is not too extended from the 30 ema (30 ema, 30 sma and 10 sma are turning up on weekly chart). I would look to buy if it breaks above 0.14 cents (right above the top of the cloud).
Price line is greater than SPX so it looks like this one is breaking out if I am not mistaken?
Thanks for pointing out any red flags or incorrect assumptions on my part. One of these days I hope to post a chart that is indeed worthy of a Stan Weinstein entry long.
Brian
A very good pick in my opinion. I'd argue it has already entered stage 2
if you wait for a break of the cloud, you are waiting for a further 16% advance in price. if the sector is strong I'd be looking for it to close above 0.12
you could always enter half and then wait for a pullback and further break above the cloud. just a suggestion, but well done for a good example
the only negatives, are the multiple resistance points along the way.
0.16 looks rather ominous
Brian
RE: Stage Analysis Beginners Questions-MAI.V - moneymaker - 2019-07-01
(2019-06-30, 07:32 PM)briansmith456 Wrote: This mining stock has had massive volume. It is not too extended from the 30 ema (30 ema, 30 sma and 10 sma are turning up on weekly chart). I would look to buy if it breaks above 0.14 cents (right above the top of the cloud).
Price line is greater than SPX so it looks like this one is breaking out if I am not mistaken?
Thanks for pointing out any red flags or incorrect assumptions on my part. One of these days I hope to post a chart that is indeed worthy of a Stan Weinstein entry long.
Brian
Is it not extra risky since it's a penny stock?
I always have Jordan Belfort's voice in my head saying: penny stocks? who the hell would buy that **** LOL
RE: Stage Analysis Beginners Questions-MAI.V - isatrader - 2019-07-01
(2019-07-01, 02:08 PM)moneymaker Wrote: Is it not extra risky since it's a penny stock?
I always have Jordan Belfort's voice in my head saying: penny stocks? who the hell would buy that **** LOL
Yep, much more volatility in these micro-cap stocks, and has more than a 4% spread. So personally I'd look for stock in the same sector with much greater liquidity and a tight spread that's showing a volatility contraction pattern. There are hundreds of gold stocks to choose from, so no reason to trade micro-caps if you don't need too imo.