Chart 1: PMetal's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Chart 2: KSL's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Chart 3: YTLCMT's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Wednesday, September 14, 2011
PMetal, KSL & YTLCMT broke their uptrend line
The following stocks have broken their nice fitting uptrend line. The breaking of an uptrend line gives rise to two possibilities. It could be either a trendless movement or a downtrend. In a bearish market, the chance of a stock going into a downtrend is higher than the chance of it going into a trendless movement. Thus, it is prudent to sell or reduce our exposure once an uptrend line has been violated.
Chart 1: PMetal's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Chart 2: KSL's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Chart 3: YTLCMT's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Chart 1: PMetal's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Chart 2: KSL's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
Chart 3: YTLCMT's weekly chart as at Sept 14, 2011 (Source: Quickcharts)
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4 comments:
Hi Alex,
Can pls share how u added the trendline in charts from tradesignum? I've tried changing the template settings but none works.
Thks.
Hi Yondaime
I have a very crude way of plotting a trend line onto a price chart from Tradesignum. The steps are:
1) Copy the Image from Tradesignum.
2) Paste it onto a new Paint doc.
3) Select 'line' from the Tool Box & start drawing.
Besides Quickcharts, all the tools & links that I use regularly are available to the readers. I try to use the free stuff on the web instead of paying for them. After using charts for 15 years, I think the less sophisticated the method, the more reliable it is.
Thanks for the tip, Alex. After following your blog, I've started looking into TA seriously, and even got hold of a book on swing trading by Azizi Ali. Maybe you should come up with a book yourself ;)
Hi Yondaime
Hmmm, I will think about it.
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