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| Discuss breakout at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi Guys The idea behind this post is to Alert about possible breakout candidates. It ... |
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#31
4th September 2005, 08:43 PM
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Re: breakout
Hi Guys
The idea behind this post is to Alert about possible breakout candidates. It is not a recommendation to Buy. I am just sharing with you the study done by me. It is for individuals to see if an oppurtunity exists and captitalize on it. The Possible breakout is candidate is MAHINDRA UGINE STEEL. MAHINDRA UGINE gapped up on Friday with huge volume. Closed up 14.500 at 126.750. Volume was 1,652% above average. Friday’s Quote Open High Low Close Volume 114.900 134.700 114.900 126.750 866,680 TECHNICAL DETAILS Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish Moving Averages: 10-period 50-period 200-period Close: 108.43 106.65 98.61 Volatility: 84 57 68 Volume: 104,377 42,217 72,714 Technical Indicators The Stochastic Oscillator is 75.3363. The current value of the RSI is 72.11. This is an overbought Indication. The current value of the CCI is 256.This is an overbought Indication. MACD has generated a BUY signal. Chande Momentum Oscillator is 37.8893. SOME FUNDAMENTALS Business: Manufacturers and dealers of mild, tool, alloy and special steels. Financials The company has shown 46% increase in sales for the year-ended March 2005 compared to the previous year. PAT increased by 689%. However the 1st quarter of 2005-2006 shows a decrease of 3% in sales and 43.9% in PAT. EPS for 2005 was 17.9 compared to 1.9 for 2004 Share Holding Pattern as of June Promoter : 53.4 Mutual Funds : 5.32 Other Institutions : 9.89 FII : 7.25 Public : 19.06 The company declared a dividend of 30% and approved during the AGM in July The price chart is also enclosed for ready reference. Hope you will find this usefull. Please post your comment if any. regards karthik Last edited by karthikmarar; 20th May 2008 at 12:31 AM. 
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#35
6th September 2005, 09:42 AM
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Re: breakout
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Nice analysis,my friend.........keep em coming!! Saint
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#36
6th September 2005, 09:54 AM
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Re: breakout
Quote:
To put it simply,when a stock hits a particular level without being able to take it out,that level is termed resistance.When that resistance is taken out,it's called a breakout.Now this breakout should hold this particular resistance level which has now become its support.If prices pull back to support and then breaks through it and falls,this breakout is now a false breakout.This false breakout is also called as BULL TRAP. The Bull Trap is a failure pattern..........not only is it time to sell your long position,it also is time to short some.Vice versa with a bear trap. All the best! Saint
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#37
6th September 2005, 11:09 AM
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Re: breakout
Hi Proffessor Saint
It could not be explained better and simpler than this. No wonder somebody asked you in this forum if you are a Teacher.  Best regards karthik
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#38
6th September 2005, 11:10 AM
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Re: breakout
after a breakout how much fall below the support line is considered as false breakout?
does volume come into consideration when we try to determine false breakout?
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#39
6th September 2005, 12:39 PM
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Re: breakout
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Regds, Anu
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#40
6th September 2005, 01:49 PM
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Re: breakout
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Try this:- in MStock go to TOOLS>OpTIONS (application Properties)> General Tab. Find Workspace properties, here check restore workspaceon start up box. Try it & come back if u have a problem regards 4candles
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