Comments on: APOL Flirting with Breakdown from ‘h’ Pattern http://www.thestockbandit.net/2009/11/06/apol-flirting-with-breakdown-from-h-pattern/ Trading blog for day trading, swing trading, and trading psychology Tue, 07 Feb 2012 17:25:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: uberVU - social comments http://www.thestockbandit.net/2009/11/06/apol-flirting-with-breakdown-from-h-pattern/comment-page-1/#comment-146777 uberVU - social comments Wed, 11 Nov 2009 03:14:11 +0000 http://www.thestockbandit.net/?p=1765#comment-146777 <strong>Social comments and analytics for this post...</strong> This post was mentioned on Twitter by thestockbandit: $APOL and the ' h ' Pattern - http://is.gd/4OVRo $$... Social comments and analytics for this post…

This post was mentioned on Twitter by thestockbandit: $APOL and the ‘ h ‘ Pattern – http://is.gd/4OVRo $$…

]]> By: TheStockBandit http://www.thestockbandit.net/2009/11/06/apol-flirting-with-breakdown-from-h-pattern/comment-page-1/#comment-146741 TheStockBandit Sun, 08 Nov 2009 19:57:25 +0000 http://www.thestockbandit.net/?p=1765#comment-146741 Hey Nat, Thank you very much for the kind words. Anytime I'm mentioned in the same company as <a href="http://www.thekirkreport.com" rel="nofollow">Charles Kirk</a> it's an honor. He is a good friend and a class act. As for APOL, yes it is a bit oversold, but it could remain that way. It has put in a rest since the initial selloff, and that rest looks to be getting resolved to the downside with Friday's turn lower. That tells me it's really struggling to bounce here at all, so until it clears the $57 area I still think the short-term path of least resistance is down. The 'h' pattern is one I've only been trading for a few months, and I haven't really come up with a universal projection for it yet. I would classify APOL as a unique situation given the big downside gap. With that said, I'd probably expect a measured move from the start of the 10/28 bar to the support level of the 'h', which is roughly $8. So a breakdown from $56 would take it down to the $48 area, which would correspond pretty well with a test of the 10/2008 low. A more conservative target would be above that low, but I still think it could easily undercut the $50. Hope this helps, thank you again for your comments and for reading the blog - have a great week of trading! Jeff Hey Nat,

Thank you very much for the kind words. Anytime I’m mentioned in the same company as Charles Kirk it’s an honor. He is a good friend and a class act.

As for APOL, yes it is a bit oversold, but it could remain that way. It has put in a rest since the initial selloff, and that rest looks to be getting resolved to the downside with Friday’s turn lower. That tells me it’s really struggling to bounce here at all, so until it clears the $57 area I still think the short-term path of least resistance is down.

The ‘h’ pattern is one I’ve only been trading for a few months, and I haven’t really come up with a universal projection for it yet. I would classify APOL as a unique situation given the big downside gap. With that said, I’d probably expect a measured move from the start of the 10/28 bar to the support level of the ‘h’, which is roughly $8. So a breakdown from $56 would take it down to the $48 area, which would correspond pretty well with a test of the 10/2008 low. A more conservative target would be above that low, but I still think it could easily undercut the $50.

Hope this helps, thank you again for your comments and for reading the blog – have a great week of trading!

Jeff

]]> By: Nat Robbins http://www.thestockbandit.net/2009/11/06/apol-flirting-with-breakdown-from-h-pattern/comment-page-1/#comment-146737 Nat Robbins Sun, 08 Nov 2009 01:45:12 +0000 http://www.thestockbandit.net/?p=1765#comment-146737 Jeff, I have a tough time ignoring the oversold factor here (around 2 on the 14,3,3 stochastics). Where would you put your stop? And is there a way to measure your objective with the "h" formation? Thanks for the help. You and Charles Kirk are the best. Nat Jeff,
I have a tough time ignoring the oversold factor here (around 2 on the 14,3,3 stochastics). Where would you put your stop? And is there a way to measure your objective with the “h” formation? Thanks for the help. You and Charles Kirk are the best.
Nat

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