Stock Charts Mania
By Johns Wu on Jul 24, 2005
This entry was posted on Sunday, July 24th, 2005 at 9:44 am and is filed under Annotated Analysis.
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“Shark Fin”? Looks like a symmetrical triangle to me. Symmetrical triangles are continuation patterns and the breakout would yield a target price of the height of the base of the triangle + the price where it broke out (top of descending line when price broke out. looks like this one woud break out $2.50/sh. If you notice the up/down days volume, It’s easily seen that down days are like half of an up day’s volume (don’t look at the days with crazy spikes, volume may be misleading on those) and thus show the supply and demand for this stock (bullish sign).