TA: IONS - weekly chart /// LTIWEST - follow-on queries | Biotech Message Board Posts

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Msg  26154 of 33213  at  2/11/2019 5:45:15 PM  by


 In response to msg 26147 by  LTIWEST
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Re: TA: IONS - weekly chart /// LTIWEST - follow-on queries

 "One other question, if we see it break through $60 on volume would that look like a breakout? 

Lastly, I am very uneducated on TA and would like to learn more, any reading suggestions on Where to start?" 
On the weekly chart -
-there are three potential kinds of breakouts here -
1. Above a horizontal line ( 'overhead line of Resistance") at 59.61
2. Above a horizontal line (of overhead Resistance) at 65.51.
 (Both 1 ands 2 above have 'single point" touches, rendering them   as relatively minor)
3. Trend line ( overhead Resistance) drawn  by connecting a line from 65.51 through 59.50 and extending it to the right.
 ( #3 would trigger faster and more keen interest in the potential for further gains than #1 and #2) 
Do not expect that this will happen until after  the upcoming Full Sto behavior is outed 
Intial forays into the world of TA ?  -
- Best explanations on the internet - Stockcharts. com - Their Education  section
( All else is wishy/washy under explained and creates slovenly TA)
- Best , most thorough, explanations of Japanese Candlesticks - Any book  by Steve Nison, the man who brought
candlesticks to the US markets
- Best, most extensive , steamroller-your-brain investigations into both Traditonal
Western TA patterns and
their statistical likelihoods- Any book by Tom Bulkowski.
Do not even open one of his books until you have absorbed  some basic information elsewhere 
 Continuing submergence in the unseen world of TA -
- Best source for ongoing public TA being used as part of a 'techno-fundamental' approach to investing - IBD
There are legions of IBD followers. By learning how they think, one can anticipate just when
and where they may show up in a stock that both you and they follow.
- Best source for learning about the complexities of modern markets and just how little Retailers know -
"Modern Trader" Magazine 
Note: Back in 06/07 both IBD and Modern Trader (then "Futures') were talking about
the emergence of 'algorithms' and 'computer-based trading.'
Guaranteed that what Modern Trader is talking about now could break your head. 
(Everything else is just Flat Earth Society SSDD) 

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Msg # Subject Author Recs Date Posted
26159 Re: TA: IONS - weekly chart /// LTIWEST - follow-on queries LTIWEST 3 2/12/2019 12:08:42 AM

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