This Week's Price Patterns
WBSN- Bull Flag Pattern. 3$ price target
CHRW- Descending Triangle. $7 price target
ODFL- Descending Triangle. 4-5$ price target
CDWC- Bull Flag. $6 price target
ATPG- Descending Triangle. $7 Price target
TRN- Descending Triangle. $10 price target?
Jeff, FYI ODFL is non-optionable, but it looks like TRN and perhaps SPG (an earlier pick of yours) are might be giving buy signals today.
Posted by Anonymous | 10/03/2006 12:15:00 PM
Great tip! These trades don't have to be option specific, but thanks for the heads-up.
Posted by Option Addict | 10/03/2006 12:18:00 PM
Also, BNI appears to have a flag-type breakout today. It has reversed its trend recently, and i feel offers a great entry point.
Posted by Anonymous | 10/03/2006 12:58:00 PM
ANDE - Descending Triangle with $10-$14 price target. It broke out in the last couple of days and looks like its working out nicely so far.
COG - Broadening Top Formation. You may want to use a 2 year or 5 year chart. Its a "Megaphone" type formation. I dont see these often bit I thought I would share for educational purposes. Do you agree Jeff ?
Posted by Anonymous | 10/03/2006 02:34:00 PM
Jeff, did you happen to catch the breakout today on the JCP ascending triangle? Took a few months to form but looks like a 7 dollar move potential on a 70 dollar stock which meets your 10% rule.
Posted by Mike | 10/03/2006 03:09:00 PM
Correction on ANDE, I meant to say $10-14 price move not price target.
John
Posted by Anonymous | 10/03/2006 09:03:00 PM
Ebay looks like an ascending triangle breakout today... or do I just want to see that?
Posted by Colabella | 10/04/2006 12:10:00 PM
tough to call EBAY an ascending triangle breakout since there was no prior uptrend, and ascending triangles are continuation patterns. I'd definitely call it a breakout, and there's definitely a trend change prior to it.
Posted by Anonymous | 10/04/2006 01:39:00 PM
I'd disagree Brett. There appears to be a nice intermediate uptrend, which is a qualifier for this trade. Ebay has been moving higher for the last couple months, so I think you're on to something Ab.
Posted by Option Addict | 10/04/2006 02:01:00 PM