I like to be always learning how to analyze and trade stocks and I've learned about the cup&handle chart pattern (http://www.investopedia.com/terms/c/cupandhandle.asp) from one member of our community, wheezledick (http://www.3stocksonfire.org/trading/index.php?action=profile;u=416).
Many thanks for him.
I believe RHAT, after generating a support area with a low on $10.44, is making that trend reversal pattern, take a look:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=954;image)
Considering this last advance we have an healthy pullback to the 50% retracement level and the uptrend is ready to resume now:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=955;image)
So I'm buying RHAT at today's open.
Everyday I will analyze RHAT after the market close until I sell the stock. I always tell I'm going to sell before I actually take action. You just have to follow the answers to this post.
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Thanks for the link to investopedia. Very nice site. Everyone that is serious about pattern trading needs to read up on this. It can only help you if not every member on this site.
Bought RHAT @$13.03
I like this one too. In at $13.11
Like XOMA , RHAT I fear is coming off a short term top. I'm in at $13.03 too. I have
no doubt they will resume to higher prices but I think our timing of entry
is a little off.
Trying out some of the daily picks. I need to study these more closely
before buying. I think they are good picks but my entries are amiss.
Cup and handle is just about in all the technical analysis books.
RHAT pulled back on lower volume, without damaging the short term bullish trend.
RHAT is having the same kind of behavior as TZOO, profit taking with low volume and no damage whatsoever to the technical picture. I expect the uptrend to resume in the short term.
Charts charts charts.... does anyone look at the company? Is redhat not a free computer service program that computer nerds instead of windows? I just can not believe this can be a booming company. Maybe im just bitter, sold this for 11, got bored with it 2 months ago.
I don't know, I don't know, perhaps puenthouse is right, I shouldn't be having business with this stock. I'm losing 2% now and wondering if when I make my exploration and filter of the market I won't find a much brighter spot for this 6.66% of total equity.
That's it, a good trade is profitable right from the start, cut the losses and let the profits run, I'm gonna sell RHAT Monday and buy another stock with the money.
Sold RHAT @ $12.69
Hot Dog !!! I got my email from David this morning. Looks as if the site programmer is on the ball <g>
tommyt mentioned RHAT on the Stocking Picking Board this weekend. Since it was a 3SOF pick, I thought I'd post the chart here, too, in case anyone still is following it:
"3 Bullish Pattern breakouts, Tommy, and on surprisingly good volume on Friday, in pre-holiday trading. RHAT also took out the down trendline from the July, 2004 gap.
The first two targets, just overhead in the 14.60's, are below the 14.80 gap, so that 2% gain shouldn't be a problem. Might pull back from there for a breakout re-test."
EDIT: Sorry, you have to use horizontal scroll bar at the bottom of the chart to see the right side ot it.
Thank you for the great chart, and good morning. RHAT up 9% in pre-market on 2 upgrades with $16 target from First Albany.
Quote from: Melf Elf on July 05, 2005, 04:58:18 AM
The first two targets, just overhead in the 14.60's, are below the 14.80 gap, so that 2% gain shouldn't be a problem. Might pull back from there for a breakout re-test."
Both Symmetrical Triangle targets: $14.62 and $14.68 MADE in early trading today. Thanks for mentioning RHAT this weekend, tommyt. Applause
RHAT currently is 14.74 BID...14.75 ASK, up $0.43.
(RHAT) > is now (RHT) and listed on the NYSE.......
Today's Chart
Changed Ticker Symbol
'RHAT' is no longer valid. It has changed to RHT