SubscribeAll Posts Tagged With: "symmetrical triangle"
Broken Trends & Symmetrical Triangles?
A trick or two from the technical vault…
While I certainly appreciate a good fundamental overview of a particular stock to support a bullish or bearish argument, one cannot gain a greater understanding of timing mechanisms without honing in on the technicals of a stock.
In the chart of Schlumberger (SLB:NYSE) below, you can see two key technical setups, the first being the basic trendline. See how shares snuggled close to the line. Once the stock bounced off two consecutive uptrend points, we can then plot its trendline. In October, the trendline was broken and you could have immediately…
30Jan2008 | S. Oakes | Comments Off | Continued
Loading ...
