3SOF

Some people like to play cards, others like to watch movies, I amuse myself looking at stock charts. Specially when they have these kind of symmetrical forms:



Points number 1 and 2 look like two valleys representing a long term double bottom. Of course, chart students will tell «that pattern is too long, it has no validity, it's not confirmed yet», and they're probably right.

Looking at that long term chart we don't guess what a mighty powerful bull trend is going on right at this moment on DCEL:



Now go look at FORD and VPHM charts. Don't they look just like this one on DCEL?

White candle after white candle after white candle, always with volume above average. This stock is definitely «the kind that I want».

If the stock one day breaks above $10 we would have a technical setup for appreciation to about $20.  I've seen it before ...

A trend follower like me just needs to buy this stock and hold it as long as the trend remains bullish.

(This analysis was part of the Top 10 for Tuesday thread. At the end of the thread I've decided to buy DCEL for the 3 Stocks on Fire Portfolio)

I've started this new thread so later I can update the DCEL analysis everyday after the close until I sell the stock.

Nice call on DCEL. I have been tracking this one for over a year. In at 7+ but have been cost averaging down. I believe the recent activity is due to takeover speculation and also the Sprint deal annouced yesterday. But today they annouced they are putting 150 million new shares into the market. I am know rethinking that they are raising cash to either reduce debt or buy someone else. Take a look at TPC (Suncom Wireless) formerly Triton PCS. There could be a play here. Keep up the good work!!!

Amazing

Excellent 

Yesterday after the close we've had these news on DCEL:

Dobson Comm shares rise on quarterly forecast

This will prompt a gap up at the open. I bough just because of the chart, not because of fundamentals (which I didn't knew). So, bought by the chart, I'll take profits by the chart ... I'll be looking to sell around $6.64. That's the closing of a big gap down the stock made in the beginning of 2004.

Does the fact that this did not gap up as much as thought change your exit stradegy?

The gap was as I thought, the open was $6.25. Nothing on an intraday basis changes my initial plan. My plan is to take profits at $6.64, today or probably in the future.

The trend is your friend, gap or no gap 

Thanks for your post gowithahunch !

What an incredible uptrend on DCEL. I'm looking to take profits at the cosing of a long term gap, at $6.64. I like the reaction to the earnings news, of course the stock didn't held that big gap up after such an advance, but it didn't plummeted either, which is very bullish behavior, because with so many people sitting on so many profits it's incredible the stock didn't in fact go up on Friday.

I guess $6.64 will be reached next week, I hope so.

Not selling DCEL until this gap is closed. I must hurry with the updates because I want to buy something new for the 3 SOF portfolio today.

Again, I get to DCEL in a hurry, sorry for this. My selling point will only come when the gigantic gap is closed, at $6.64.

JP Morgan starts Dobson at overweight, hence todays action

Sold at $6.75, nice 28% profit in a few days 

Thanks for the info aussie !

great trade David! (applaud) thats how a trader gets it done  solid

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