Mmmm.....Price Patterns

In this mornings presentation we looked through a pretty good list of flag patterns. I also noticed in the "comments" of prior posts that there were other patterns out there that some of you have been watching. If there are any others you would like to add, please post them here.

These are just a handful of random flags. Some have confirmed, some are awaiting confirmation. If you are unsure on how to handle flag patterns, click here.


SMG

HAL

WBSN

FFIV

NUE

MSTR

AKAM has a flag breakout today.

ANOTHER TYPE OF PATTERN

I have been reading 'REMINISCENCES OF A STOCK OPERATOR' and came across a paragraph that hit me. The paragraph is on p. 48-bottom.

"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!"

So there is hope!!! ;)

lori

NSC flag is also breaking out today.

AMAG Bull Flag breakout today. I have a target of $5.00 (Would anyone like ot confirm ?) I'm use the height of the flag pole as the estimate.

Additionally, KLAC is breaking out of a triangle today.

-M

just my comments, for what it's worth:

1) I don't see anything resembling a flagpole on AKAM. I see a possible support bounce from yesterday.

2) AMAG is just a little early yet on the flag break.

PMTI broke out today on STRONG volume. Measuring the flag conservatively (as jeff does), the target on this $49.80 stock is a $6 move to $54.

$50 could act as resistance here, but i love the risk/reward.

AMAG - I don't see a flag yet either. I would probably view this as a support bounce off of long term support (April's high). About the 39.43 level. I think I would also classify this as a higher low.

Tim

What are your thoughts on SUPX. I'm concerned that the flag is as long as the pole. It's had nice 5 to 6 $ moves. It's also bouncing off of the 30 DMA. This should easily return to the 46 to 48 $ range. Now we just have to wait for confirmation.

SUPX, It is approx. at two support lines now. The diagonal uptrend support line and retesting the bottom of the earnings candle. It bounced off this today. If it closes below either of these support lines very much or 2 days in a row I would walk away. There is also long term resistance at 46+.

Jeff mentioned on the WebCast to watch for MER. It broke resistance to form a new high on good volume and is almost setting on support.

XMSR may confirm a double bottom soon.

Could AKAM's breakout be a wedge breakout?

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  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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