Stage Analysis Forum - Trading & Investing using Stan Weinstein's Stocks Breakout method
US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts - Printable Version

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RE: Watchlist - Investor method - isatrader - 2013-12-11

CORT is attempting to make a Stage 2A breakout and today closed above it's July swing high on around two times the average daily volume. Relative performance is above it's zero line, but it's still within fairly broad ichimoku cloud resistance on the weekly chart and weekly volume is still below average currently. So not an A+ setup, but it has some of the key ingredients that we look for. Attached is the charts.

RE: Watchlist - Investor method - isatrader - 2013-12-11

CYTR is attempting a Stage 2A breakout on positive news for a new cancer drug they are developing called Aldoxorubicin. It had a massive spike in volume, 17 times the weekly average, relative performance has moved back above the zero line once more, and it's cleared weekly ichmoku cloud resistance. Attached are the charts.

RE: Watchlist - Traders method - isatrader - 2013-12-11

MLNK is rebounding from the Stage 2A secondary entry point. Volume on the pullback contracted and relative performance stayed above the zero line, so MLNK looks like it could test the 4.68 pivot high from October.

RE: Watchlist - Traders method - Tryst - 2013-12-11

(2013-12-11, 12:14 AM)isatrader Wrote: You need to change you scale type in the price settings to "Logarithm scale" as it's hard to see the price action in the bases after long declines using standard scaling, as you'll see on the attached same charts, they both had fairly sharp bases on the standard weekly charts, although you are correct that over the very long term they show more curved bases.

Thanks for the suggestion to change to 'Logarithm scale' on the chart.

Do you keep you charts at this setting, or just switch to it to see the price action more clearly at lower levels on shares that have dropped quite a lot?

I see that changing it to Logarithm Scale as put my trendlines out on the chart.

RE: Watchlist - Traders method - isatrader - 2013-12-12

(2013-12-11, 11:54 PM)Tryst Wrote: Thanks for the suggestion to change to 'Logarithm scale' on the chart.

Do you keep you charts at this setting, or just switch to it to see the price action more clearly at lower levels on shares that have dropped quite a lot?

I see that changing it to Logarithm Scale as put my trendlines out on the chart.

Yep, I've permanently switched to Logarithm scale now on my weekly and monthly chart as I find it much more useful than standard scaling on those timescales, but I still have standard scaling on the daily charts. It will affect your trend lines as your chart is now percentage based. But I barely find the need for trend lines anymore on the weekly as the 10 and 30 week MA do the same job without drawing loads of lines all over the place. So I only really use horizontal lines to mark pivot levels and top or bottoms of Stage 3 and 1 ranges, and the MAs for trend.

RE: Watchlist - Traders method - isatrader - 2013-12-12

A few US stocks from tonight's relative volume scan for the trader watchlist - WLDN, PTRY, ARCW, CNIT, HIMX, NRF, SNI

RE: Watchlist - Traders method - Tryst - 2013-12-12

(2013-12-12, 12:02 AM)isatrader Wrote:
(2013-12-11, 11:54 PM)Tryst Wrote: Thanks for the suggestion to change to 'Logarithm scale' on the chart.

Do you keep you charts at this setting, or just switch to it to see the price action more clearly at lower levels on shares that have dropped quite a lot?

I see that changing it to Logarithm Scale as put my trendlines out on the chart.

Yep, I've permanently switched to Logarithm scale now on my weekly and monthly chart as I find it much more useful than standard scaling on those timescales, but I still have standard scaling on the daily charts. It will affect your trend lines as your chart is now percentage based. But I barely find the need for trend lines anymore on the weekly as the 10 and 30 week MA do the same job without drawing loads of lines all over the place. So I only really use horizontal lines to mark pivot levels and top or bottoms of Stage 3 and 1 ranges, and the MAs for trend.

Thanks for the reply, isatrader.

Do MA's truly show a change in trend? If we take the CECO chart you posted yesterday, although it is on the Daily, the price action fluctuates over and under the MA, where as the slopped down trendline (resistance) truely shows a break change in trend when it is broken. In this case it gaps up above trendline resistance and leaves almost an island bottom. Its quite a bullish chart this one tbh.

   

Thanks for bringing Logarithm Scale to my attention as I wasn't aware of this feature, although I could see it in your charts by the price axis.

RE: Watchlist - Traders method - isatrader - 2013-12-12

(2013-12-12, 12:16 AM)Tryst Wrote: Do MA's truly show a change in trend? If we take the CECO chart you posted yesterday, although it is on the Daily, the price action fluctuates over and under the MA, where as the slopped down trendline (resistance) truly shows a break change in trend when it is broken. In this case it gaps up above trendline resistance and leaves almost an island bottom. Its quite a bullish chart this one tbh.

In my opinion they certainly help with identifying the Stage 2A breakout point, as if the 30 week simple moving average is still in a downtrend when the stock breaks above horizontal resistance from the last significant swing high, then it's still classed as being in Stage 1. So you don't have a move into Stage 2 unless the 30 week MA turns up also, or until it does, so horizontal trend lines are all that's needed really imo, as breakouts of downtrend lines only show a change in momentum not trend. As the trend change happens on the breakout to new highs above the Stage 1 base - i.e. the Stage 2A breakout point.