SVA

[phabrux]

Here is a up to date chart from SVA which show a possible Reverse H&S pattern formation.
I am still holding SVA and patiently waiting for the breakout of the Reverse H&S neck line  at 5.30$
Applauss for yours greats charts Melf Elf on SVA, I hope you allready recover your 1.6% lost!

[Melf Elf]

Here is a up to date chart from SVA which show a possible Reverse H&S pattern formation.
I am still holding SVA and patiently waiting for the breakout of the Reverse H&S neck line  at 5.30$

phabrux,

Applause for your patience! 

I hope you allready recover your 1.6% lost!

No, I haven't, and I want it back, too!    

We've got problems with the Inverse H&S scenario:

1. The Right Shoulder took out the low of the Left Shoulder (where I got faked out).  That's forgiveable and a great Bear Trap if SVA had gone on and broken out above the neckline.

2. The Left Shoulder formed over 20 trading sessions.  The Right Shoulder should be narrower than that, or at least close to it.  This Right Shoulder has gone on now for 28 trading sessions.  Technically, it looks "too wide."

3. The action since the "fakeout low" of 3.85 looks like a Bear Flag/Channel.  It still can resolve to the upside, but it looks weak since the April 26 gap toward the top of the flag, and the 50DMA still is below the 200DMA.

4. The weakness has me thinking that the April 26 gap from 4.23 will get filled, barring news that sends SVA rocketing higher. 

Because of the technical defects in the Inverse H&S scenario, I'm thinking that the pattern is more like an Ascending Triangle (brown ascending trendline...neckline is the top of the Ascending Triangle).

I'd like to see the 4.23 gap get filled, and see a third tag of the ascending line, which would validate that trendline as support.

On the other hand, since you're long and I'm not, I'd like to see SVA break out NOW. 

Good luck, phabrux!

[phabrux]

Thanks Melf Elf for your great analysis on SVA and applause.
By coincidence whatever paterns is in play: R H&S or ascending triangle,  would the breakout occur at the 5.28$ level, our target will still remains in the area of: 7.28-7.32$!
Amazing!
About the gap not filled, it could be seens as a sign of strong momentum?

Don't you think so?

[Melf Elf]

By coincidence whatever paterns is in play: R H&S or ascending triangle,  would the breakout occur at the 5.28$ level, our target will still remains in the area of: 7.28-7.32$!
Amazing!

phabrux,

Yes, that's right.

About the gap not filled, it could be seens as a sign of strong momentum?

Don't you think so?

It is showing some upside momentum, and it hasn't wanted to go down. 

I had to "move the chains" for the top of the Bear Channel for data point #4, to reflect the recent high.  Friday was a Bearish Engulfing candlestick, so we might go down and fill that gap next week, which still could work out fine if SVA holds near there, then rallies and breaks out above the top of the Ascending Triangle.

Technically, MACD and Relative Strength are well-positioned, so there's "room" for a selloff to the gap.

[Melf Elf]

Friday was a Bearish Engulfing candlestick, so we might go down and fill that gap next week

phabrux,

Two down days this week off the Bearish Engulfing candlestick last Friday.  The 4.23 gap all-llmost got filled yesterday.  The low was 4.27.

Technically, MACD and Relative Strength are well-positioned, so there's "room" for a selloff to the gap.

The MACD has come back to its signal line.  I'll show you that next.

[Melf Elf]

phabrux,

If SVA can hold at the gap/trendlines and rally, the MACD is well-positioned to bounce higher from near its signal line.

[Melf Elf]

The 4.23 gap all-llmost got filled yesterday.  The low was 4.27.

Bought SVA at 4.23 on the gap fill.  Stop: 4.04.  Risk: a loss of 4.5%

Try, try again...

[phabrux]

Congratulation Melf Elf, your SVA analyse on the last few days reflected exacly what did SVA: filling entirely the gap to 4.23, with a low of 4.13$.
I hope it will rebond from here!
And Got luck for your own trade!

[Melf Elf]

Congratulation Melf Elf, your SVA analyse on the last few days reflected exacly what did SVA: filling entirely the gap to 4.23, with a low of 4.13$.
I hope it will rebond from here!
And Got luck for your own trade!

Thanks, phabrux.  I hope that 4.13 is all it does on the downside.   

SVA needs to rally now, to get the technicals to turn up again.  Good luck to you, too!

[Melf Elf]

Stop: 4.04.  Risk: a loss of 4.5%

Try, try again...

phabrux,

SVA is at 4.06, trying to stop me out.  After I waited so patiently to buy it back, too!  Do you think this stock doesn't like me lately? 

 

[phabrux]

phabrux,

SVA is at 4.06, trying to stop me out.  After I waited so patiently to buy it back, too!  Do you think this stock doesn't like me lately?

In the contrary  Melf Elf;  SVA decide to keep you among his prefered sharesolders.
Stopping right before your stop loss! 
What a beautifull love story!   Lol!

Lets hope 4.05 is the LOD! and the rebound is on his way!

[Melf Elf]

Bought SVA at 4.23 on the gap fill.  Stop: 4.04.  Risk: a loss of 4.5%

Try, try again...

Stopped out at 4.04.  Loss: 4.5%

In the contrary Melf Elf; SVA decide to keep you among his prefered sharesolders.
Stopping right before your stop loss!
What a beautifull love story! Lol!

Lets hope 4.05 is the LOD! and the rebound is on his way!

phabrux,

I was TRULY in love when she stopped at 4.05, a penny above my stop, but it was a very short love affair.  lol.  SVA is a she-devil!  She got me again!


    EVIL...EVIL...EVIL...  

[phabrux]

SVA is at 4.06, trying to stop me out.  After I waited so patiently to buy it back, too!  Do you think this stock doesn't like me lately?

SVA LOD is now at 4,00!
So you where right Melf Elf, there is a bit of a tension between the two of you, but with a bit of Mediation and Patience, I think you might be friend again in the next future! Lol

Maybee, it is time for me to think of a exit plan too!

[akclide]

Hey Melf I know this is not the right forum for it but I needed your attention.ASYT has fallen about 25% today I see the support somewhere b/w 7.25-7.5. What is your opinion Thanks

[Melf Elf]

So you where right Melf Elf, there is a bit of a tension between the two of you, but with a bit of Mediation and Patience, I think you might be friend again in the next future! Lol

phabrux,

We'd need a lot of mediation.  I'm really ticked off at her.    

Hey Melf I know this is not the right forum for it but I needed your attention.ASYT has fallen about 25% today I see the support somewhere b/w 7.25-7.5. What is your opinion Thanks

akclide,

My apologies, but I not only don't have that one in my data base, I've never heard of it.  I don't like to comment on a stock unless I've done some homework, and that takes me some time, but "off the cuff," it looks like it's headed for that 7.16 - 7.23 gap from January.

It looks like it's coming down on "try to catch a piano thrown off the top of a building" volume, so be careful if you're thinking about buying it.

Sorry that I can't be helpful on it.  Good luck!