As I look at this stock, Diodes Inc. (DIOD), it looks like it's ready to sale higher on very high volume,.....or it could be a blow off exhaustion. Which do you think it is? All thoughts appreciated. Thanks.
Dan
Hi Dan,
I think you have a winner here...
The last session was a nice pattern breakout with very strong volume.
I'm looking forward to see the next few sessions on this stock ;)
Thank you for your observations.
But tell me, since I don't own it, would you buy this stock on a pullback to some price level and if so then where? What tactics would you deploy? For example, where would you sell it for a profit if it went up, and conversely, where would you "cry in your beer" and just sell it for a small loss?
Dan
Quote from: dan on May 16, 2005, 08:38:10 AM
Thank you for your observations.
But tell me, since I don't own it, would you buy this stock on a pullback to some price level and if so then where? What tactics would you deploy? For example, where would you sell it for a profit if it went up, and conversely, where would you "cry in your beer" and just sell it for a small loss?
Dan
Hi Dan,
The major breakout level was near $30, the short term support is $29, so in the case of a corrective short term move, this would be the best spots to buy DIOD.
Todays volume and move is a bit weak, so probably the traders are not confident enought on this breakout, and it may need to retest the k-values ($30 or $29).
Considering that a slow down below $29 would change the chart pattern, a rational stop price would be $28.50.
best regards
today's chart