Tuesday, May 19, 2009

Hamy Trade: THQI

Awesome bull flag setup. 3% above buy point, confirming strength with price and volume:


THQI Buy.png


"Mets - Look at RC's PPT blog post with a target. Also, refer to the rule of thumb about flag patterns: "the explosion in price then practically duplicates the original price movement of the “mast” formation." RC puts a target around 6.75, and the rule of thumb would duplicate the move from 3.86 to 5.19, a $1.33 move, to a breakout target of 6.58 "


Here's why i'm going to sell THQI at 6.45:




Resistance THQI.png


UPDATE 5/19: SOLD at 6.16. I think this has some room to run, but I don't have a real idea of what to expect for the overall market. I got cold feet and decided to walk away with 8.5%


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