A volume follow through should carry this one to 20. 20 is strong long term resistance and a psych resistance point.
good find.. That Chart looks awesome!
Increasing emphasis on reducing medicare costs has this stock propelling. This one is the best of the pack. Dont have a position now though I sold it for profit when it broke out and market was in doldrums in the first half of this year.
Yeah, nice retest to old resistance, now support. It's easy to buy this stock, risk is limited (stop if it breaks support at $15.10) and upside is unlimited. Another nice call eliteG, thanks.
nice chart captain ;) i decided to go with dark charts this week too.
i wonder what'll shakeout but I also see better patterns out there. Will at least use this for educational purposes.
Quote from: eliteG on June 27, 2005, 08:04:19 PM
nice chart captain ;) i decided to go with dark charts this week too.
i wonder what'll shakeout but I also see better patterns out there. Will at least use this for educational purposes.
Wish I'd seen this one when it broke out in February, 2005 out of a four year base. The breakout measures to $21+. Would have been a nice intermediate to long-term hold.
The mid-March to mid-May bull flag breakout put 17.73 IN PLAY.
The June Ascending Triangle will put 18.55 IN PLAY if we take out 16.83.
MDRX is up over 200% off its August, 2004, so if its going to $21, it might take awhile longer, but this one looks to have more upside in it. Strong bullish trend. Thanks, eliteG!
MDRX looks like a top to me as it failed to break above $17.00
http://www.wallstreettape.com/charts/custom/charts.asp?ticker=mdrx
MDRX just broke out of the Ascending Triangle, printing 16.84. Thanks, eliteG!
http://ts-lc.sc8.finance.lycos.com/1119984305531?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:MDRX&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=&Param1=&Param2=&Param3=&FontSize=10&LocaleID=0x0409
that volume is weak but I guess it could mean people are just not interested in selling at these levels :D Lets rock
another view:
Quote from: eliteG on June 28, 2005, 02:54:48 PM
that volume is weak but I guess it could mean people are just not interested in selling at these levels :D Lets rock
another view:
On the 5 minute chart, volume was about 1,000-5,000 most of the day. When it rallied from 6.64 to 6.85 breakout, volume improved to 30,000. Next 5 minute bar, on the move from 16.85 to 17.08, volume was 38.000. Don't know if there was news, but it started bookin'. Thanks, again. Applause. :)
jumpin in the pre :o
ALLSCRIPTS HEALTHC (NasdaqNM:MDRX) Delayed quote data Edit
Pre-Market (RT-ECN): 17.50 Up 0.53 (3.12%)
Quote from: eliteG on July 12, 2005, 09:04:16 AM
jumpin in the pre :o
Up almost 9% today. Nice chart, and nice pick. Applause!
Quote from: Melf Elf on July 12, 2005, 02:35:44 PM
Up almost 9% today. Nice chart, and nice pick. Applause!
What a beautiful chart this is. It's like a dance...
1...2...3...4....BREAKOUT.....1...2....3.....4...BREAKOUT....1..2...3...4...BREAKOUT.... 1..2....3...4....BREAKOUT....
All four targets MADE. It could be that it made a two-day island top this week, but it hammered off the up trendline (support) on Friday. I might jump back in this one on Monday, if only for a quick play to the gap at 17.90 since there's no pattern target.
Stop would be a close below Thursday's low of 16.91. From Friday's 17.28 close, the risk: 2.2% loss. I'd like to get it for less than 17.28, if I can. At any rate, it's on my shopping list.
Bought MDRX at 17.09. Stop is a close below Thursday's low of 16.91. Risk: a loss of 1%
It's currently 17.08 BID...17.09 ASK
Quote from: Melf Elf on July 18, 2005, 09:56:47 AM Stop is a close below Thursday's low of 16.91. Risk: a loss of 1%
MDRX closed at 16.93 yesterday, above my stop, so I held it. This morning, it took out yesterday's low of 16.77 so I sold it at 16.74. Loss: 2%
I had a 2% loss on this one in July (posted above). I'm thinking of taking another stab at it, only this time on the short side.
MDRX broke below a Bearish Rising Wedge on September 15. I think it had an analyst upgrade at the end of last week or early this week, and it has rallied for the past three days. MDRX now is back for a re-test of the broken wedge. It closed yesterday at 17.10.
Resistance:
17.18 - 50DMA, which has rolled over to the downside
17.36 - bottom of the broken wedge
17.39 - top of the Ichimoku Kinko Hyo Kumo (cloud)
Double Bottom (reversal) Pattern.......