Ascending Triangles - Gotta love 'em!

[ScottishTrader]

AMD seems like a no-brainer for blue-chip tech right now -- I think you are bang on Basonista.  There is almost no doubt that the $24 AT target WILL be made within the next month or so, so if you have cash to spare, i'd say go for it.  And indeed I think you are right - its more than likely that the first half of 07 will see strong PC and chip sales due to the vista upgrade cycle.

From the 3 year weekly chart it looks to me like AMD is putting in the second leg of a W bottom pattern with a measured target of $35.  With a stop below $20 that is an excellent risk:reward!!

[basonista]

Maybe this should be posted under one of the AMD threads but which one?!? 

AMD broke through it's ascending triangle today and had a perfect tag on the red descending resistance only to fall back into the ascending triangle.  At least it's trying to break out and it actually held up pretty good in light of the redness of the markets today.

[Melf Elf]

Maybe this should be posted under one of the AMD threads but which one?!? 

basonista,

Nice one!  Applause.

There are four hits to the top of the pattern, three hits to the bottom, and the past two days, the lows are a tag of the big down trendline (blue).

The pattern measures to just below that 24.07 gap, if it can get going on the upside, into the 22.00s.

I'll check out AMD folders, and try to merge them.

[calven]

Remember ascending triangles have a flat top and an ascending support line - therefore the one you submitted is a symmertrical triangle and doesnt fit the pattern. 

[Terliso]

Perfect Ascending Triangle

[basonista]

Perfect Ascending Triangle

Nice, Terliso.  Text book example right there!

[Terliso]

HGR above $13.00 in play

[Ares]

How Significant are Ascending Triangles in a 1 minute chart?

[basonista]

How Significant are Ascending Triangles in a 1 minute chart?

All formations should act the same regardless of the time frame you are using.  Just figure out your price target based on that time frame and the formation and you should be good to go.  Obviously, if a stock is to make it's target, it will get there faster on a 1 minute chart than, say a weekly chart like what Terliso has posted above.

[Ares]

Basonista,
Thanks for your reply.
Ares

[calven]

Lets get this thread moving again!!!

Heres what I got for ya - KDKN.OB

Very speculative - chart to come once stockcharts.com gets back online

[ScottishTrader]

DRQ - AT breakout on the weekly timescale - major break of resistance - looks good!!!

[calven]

Lets get this thread moving again!!!

Heres what I got for ya - KDKN.OB

Very speculative - chart to come once stockcharts.com gets back online

KDKN going gangbusters  - up 15% today!

[Terliso]

Lets get this thread moving again!!!

Heres what I got for ya - KDKN.OB

Very speculative - chart to come once stockcharts.com gets back online

Great call Calven, applause.

[pompano]

Here's one that's holding mid-point support.....so far.  I have the target in the .50s