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ATVI Pattern

 
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washedup



Joined: 19 Jan 2005
Posts: 2

PostPosted: Wed Jan 19, 2005 9:56 pm    Post subject: ATVI Pattern Reply with quote

I'm pretty new to Candlesticks and wonder if someone can help me with the analysis of ATVI. It looks like a top reversal but the volume is confusing me. Is this pattern a sign of some minor correction (pause) or more significant? HELP
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tab321
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PostPosted: Wed Jan 19, 2005 10:12 pm    Post subject: The Analysis of ATVI Reply with quote

Hey - I may be the dumbest on the board but I will give my two cents on ATVI. I wish I could tell you that I really knew what I was talking about. Take my comments serious or for entertainment only. If I am wrong, we will learn something and if I am right, we will learn something.

ATVI has had three gaps to the upside since its big run. It is in dangerous territory now. If you have profits, protect them. If it were me, I would set a stop and exit at any close below 21.30.

ATVI is 21% above its 50 Day MA and it has never stayed that extended for very long. A pullback is due. Nov 18, Dec 6, and Dec 21 were days when the Price was only extended 17 percent or so and it sure pulled back.

Today's candle is a Bearish Engulfing Candle so that tells you to protect profits and let a potential correction get over. It should come back to the 18 Dollar area or so before it resumes its uptrend.

NOW - I say all of that and I just messed up on TKO. I got out in late December just to watch is soar some more in January. You live and learn. Hopefully, we will learn something on this one. It is a good chart to learn from.

TBeard
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Guest






PostPosted: Wed Jan 19, 2005 10:16 pm    Post subject: Re: ATVI Pattern Reply with quote

washedup wrote:
I'm pretty new to Candlesticks and wonder if someone can help me with the analysis of ATVI. It looks like a top reversal but the volume is confusing me. Is this pattern a sign of some minor correction (pause) or more significant? HELP


Looks scary to me, a bearish engulfing at the top with stochastics turning down. If I was long I'd move my stop up to right below the middle of the big white candle (about 20.40). Or if you are more conservative, I'd move my stop just below the gap from two days ago.

http//stockcharts.com/def/servlet/SC.web?c=ATVI,uu[l,a]daclyyay[da][pb50!b200!f][vc60][iUb14!Lp12,3,3]&pref=G
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curt
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PostPosted: Wed Jan 19, 2005 10:17 pm    Post subject: Re: ATVI Pattern Reply with quote

washedup wrote:
I'm pretty new to Candlesticks and wonder if someone can help me with the analysis of ATVI. It looks like a top reversal but the volume is confusing me. Is this pattern a sign of some minor correction (pause) or more significant? HELP


Looks scary to me, a bearish engulfing at the top with stochastics turning down. If I was long I'd move my stop up to right below the middle of the big white candle (about 20.40). Or if you are more conservative, I'd move my stop just below the gap from two days ago.

http//stockcharts.com/def/servlet/SC.web?c=ATVI,uu[l,a]daclyyay[da][pb50!b200!f][vc60][iUb14!Lp12,3,3]&pref=G
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candlestick1
Site Admin


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

PostPosted: Wed Jan 19, 2005 10:43 pm    Post subject: ATVI Reply with quote

Observe the obvious, the stochastics are in the overbought area and today formed a bearish engulfing signal. The probabilities say to take profits and see how far back they pull it. There is nothing wrong with getting out when the charts say so and getting back in when the chart signals say to get back in
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abbo



Joined: 12 Sep 2004
Posts: 148
Location: australia

PostPosted: Thu Jan 20, 2005 2:29 am    Post subject: Reply with quote

I am a bit late on the reply given the impressive direction from people more knowleganle than myself. BUT
If I were in this stock I would get out
As for volume, it was high enough to say there is some serious action going on however from my experience I would say volume is less of an issue for stock falling in price. The price will go down under its own weight some times
When going long it is good to see a building in volume or at least a significant spike on the move as this fuels the engine by drying up the supply. The reverse for shorting does not seem so critical
This information is based more on my observations for option trading (couple of days in and out) however the conditions also seem to play true for equity moves over the longer time frame
As has been said on this forum before "trading is about maximising you portfolio return and not trying to get the maximum out of each trade" (or something like that). Perhaps your funds in ATVI could make a better percentage gain in another stock rather than trying to get a bit more out of this topping chart. Get back in later if you think it is still the best trade around
As for TAB321's TKO trade he could still have reentered the stock in early January and made a little but I am sure that money was elswhere and made even more. Thats the game- enjoy
Good luck
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