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ABGX - Bullish Kicker?

 
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tab321
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PostPosted: Thu Nov 18, 2004 1:20 am    Post subject: ABGX - Bullish Kicker? Reply with quote

Criteria #4 states that a Bullish Kicker should never retrace into the previous day price range. So - how is ABGX a Bullish Kicker?

Not trying to be a pest nor argue with the author of the book. ABGX looks good to me and I would call it a Kicker. However, when does one ignore the criteria for "not retracing into a previous day price range" - is it because it popped above the 50 Day MA as well?

Look forward to your comments and I realize that all candle signals do not work out perfectly as stated by the criteria.

TBeard
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Thu Nov 18, 2004 12:20 pm    Post subject: kicker retracement Reply with quote

You are absolutely correct, a kicker signal should not retrace into the previous day's trading. In the case of ABGX, the 50 day moving average also becomes a factor. Note how trading below the 50 day moving average one day, did a kicker type signal the next day. Although the trading did come back into the previous day's trading range, the implication created by the kicker type signal was that there was a drastic change in investor sentiment.

The pure kicker signal does not have a shadows at the opens, however do not fine-tune the signals to a complete purity, analyze the results of what has occurred that looks like a signal.
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