Post by TradingForGod on Oct 6, 2004 20:48:48 GMT -5
Today was a potentially very important turning point for AZMN technically. After pounding into key support at the 40-day MA at 14.5 for several days, the stock turned around and finished higher yesterday. Today it followed through to the upside, finishing at 18 cents and breaking minor downtrend resistance. This sets the stage for an advance to new highs though it may take a little time for the rally to get organized. The prolonged sideways correction of the recent spike high at 22 has left AZMN with no trend and BB resistance is just overhead at 19.5. However, if 19.5 is bested I think that this stock can easily work its way up to the initial swing target off the July low. That is at about 27.5. It’s also very possible that Azco’s next rally will “extend” to the 1.618 Fibonacci objective at 35.5. That lines up really we longer term swing target at 37 cents we’ve talked about before. As CT and Savant have pointed out, this type of rally could very well be just a down-payment on a MUCH larger rally to come. Here’s hoping!
Polish wrote:"
I “think” the answer to this question is as follows. HDWR has been in a progressive rally phase since the mid-03 low at around $13. The first rally topped out at about $29, a $16 increase, and was followed by a corrective sell off to around $19. This was an almost perfect 62% (Fibonacci) retracement. The rally from that point has proceeded in an impulsive, 5 wave fashion and it is nearing the end of that 5th wave. The swing target off the $13 and $19 lows is at about $36. The primary swing target for the smaller sub-rally from $19, where the 5th wave equals the 1st wave in length is about 35.5. Pretty close I would say. That is an EXCELLENT place to take profits on length. By the way, this most recent new high has come on lower momentum, leaving a classic momentum divergence on the chart. That only adds to the toppy look to this chart. Hope this helps.
One final note: I have recently come across a website for a company called May Holdings. It is run by a man named Andrew Bullians. I have never met him. In fact, he lives in Belize! So this is not an endorsement of him or his company. But he has a very interesting vision for His life, one very near and dear to my heart, much like CT’s. He sends out a periodic newsletter and the most recent one caught my eye. I am including a link to it here for your use and enjoyment. It is very thought provoking. You can view it at www.injesus.com/Groups/ViewMessage.cfm?MessageId=RB006PKC&UCD=tkz. His website is www.fourwindsfinancial.net.
May God richly bless each of you,
TFG
Polish wrote:"
Thank you for your post on FBR was very helpful, I confess I am not a tech chart reader but trying to understand them better, I been buying as much as possible a stock HEADWATERS (hdwr) having a great run up since June after what appears to me it correction in April , May, At what level can I expect it next correction, Please feel free to post this e-mail
polish
polish
I “think” the answer to this question is as follows. HDWR has been in a progressive rally phase since the mid-03 low at around $13. The first rally topped out at about $29, a $16 increase, and was followed by a corrective sell off to around $19. This was an almost perfect 62% (Fibonacci) retracement. The rally from that point has proceeded in an impulsive, 5 wave fashion and it is nearing the end of that 5th wave. The swing target off the $13 and $19 lows is at about $36. The primary swing target for the smaller sub-rally from $19, where the 5th wave equals the 1st wave in length is about 35.5. Pretty close I would say. That is an EXCELLENT place to take profits on length. By the way, this most recent new high has come on lower momentum, leaving a classic momentum divergence on the chart. That only adds to the toppy look to this chart. Hope this helps.
One final note: I have recently come across a website for a company called May Holdings. It is run by a man named Andrew Bullians. I have never met him. In fact, he lives in Belize! So this is not an endorsement of him or his company. But he has a very interesting vision for His life, one very near and dear to my heart, much like CT’s. He sends out a periodic newsletter and the most recent one caught my eye. I am including a link to it here for your use and enjoyment. It is very thought provoking. You can view it at www.injesus.com/Groups/ViewMessage.cfm?MessageId=RB006PKC&UCD=tkz. His website is www.fourwindsfinancial.net.
May God richly bless each of you,
TFG
