Technical Analysis - Chart Pattern Recognition Series
I have had many requests from virtually all my colleagues to further explain what I look for in a stock in terms of technical fundamentals and chart patterns. I am far from an expert in this subject but I do not like seeing many of friends fail to maximize profits (or worse, loose money) because they don't recognize proper stock injection points, the only time I will buy a stock.
I have thus decided to start a stock chart pattern recognition series. In this series I will show you basic stock patterns and how they certain patterns tend to resolve bullish while other patterns will resolve bearishly. Recognizing these before they happen can make you a considerable amount of money.
I will talk about chart patterns such as Double Top/Bottom, Head and Shoulders, Falling/Rising Wedge Triple Top/Bottom, Flag Pennant, Symmetrical, Ascending & Descending Triangles and Price Channels. Oh and did I mention my personal favorite - The Cup and Handle.
I was hoping that with each segment in the series, my readers could try to find an example of the pattern and share with us how it resolved and if the resolution was in line with the technical prediction of how it should end. Also, if you have any other chart patterns that you would like to recommend, please post it in the comments section below.
On a side note, I would also like to mention that in two days I will be leaving out of the country again for a bit and apologize for the lack of Internet access that I will have. This time it is off to the remote Bahama island chain known as "The Abacos" to sail aboard the 45-foot yacht known simply as "The Seneca". I am lucky enough to be accompanied by my wonderful girlfriend for 10 straight days in paradise aboard this beautiful boat :-)
Stay tuned for the first of post of the chart pattern recognition series to come!