Tuesday, August 30, 2005

Study 2nd day; PETS

So I predicted the following things on PETS yesterday:
1. go up to the descending resistance from the triangle 2. get out the triangle on the bearish side.
So PETS moved more or less like I expected; It went up strong and closed at 10,55
On the intraday however PETS got to 10,72 which is an intraday spike out of the triangle. So far so good. The thing which is making me doubt (a little) if I get this prediciton right on both points, is yesterday's volume; It was still lower than the previous moves up, but it was higher then expected.

Volume will be interesting to watch today; A move further up on low volume is a signal of weakness (and probably a false break out), a move down or consolidation on average volume (or more) is also a signal of weakness. For the stock to prove strong it has to; either go further up on higher volume than yesterday, or consolidate on very low volume.


4 Comments:

At 11:28 AM, Anonymous Anonymous said...

Thanks for offering this great service to learn about wholesale carpet. I have a website about wholesale carpet which makes me very interested in what you have going here. I think I am going to start up my own blog so I can spread the news! Thanks you are offering this great service!

 
At 9:43 AM, Anonymous Anonymous said...

I know, I know, your blog doesn't have much to do with dogs, but I did enjoy it, thanks.

If you do have a dog though you can get some great natural dog food recipes free, plus a new training video for dogs.

Why not take a chance on something good and visit recipes for dog food and treats

 
At 4:57 PM, Anonymous Appaloosa said...

Looks like your blog is pretty popuplar. Are you interested in links exchange?Appaloosa

 
At 4:50 AM, Anonymous open365dayz said...

Hi #NAME#. Just found your site via brazzier. Although I was looking for brazzier I was glad i came upon your site. Thanks for the read!

 

Post a Comment

<< Home