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Thread: 8/20/08 Homework

  1. #1
    Inactive Member jchavez's Avatar
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    Find and post 1 Retracement Trade. Can be either Bearish or Bullish. The set-up should meet the criteria discussed in today's lesson.

  2. #2
    HB Forum Owner blancoarismendi's Avatar
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    I used the Eduscan -> Bull Area scan to find the stock ADVS. It's in the technology sector/Computer services group. Looking at the chart it looks like there was some heavy institutional buying on 7/30 and during the past week looks to be in a retracement. Lower highs and lower lows for 3 consecutive days then some sideways action. What do you guys think?

  3. #3
    Inactive Member VegasCharlie's Avatar
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    Bearish retracement for ATW.

    Co. has been sideways from about 4/21 to 6/24... then it dropped below the prior support. Also trading below the 20,50 and 200 MA.

  4. #4
    Inactive Member Cfaye's Avatar
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    Question

    Hi Guys, trying to find my way.

    I chose ADBE as a retracement trade, am I on the right track?

  5. #5
    HB Forum Owner blancoarismendi's Avatar
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    Wow ADBE looks pretty good to me.. it looks like the old resistance around $43.50 might turn into some new support. Nice one, I'll have to add that to my watch list.

  6. #6
    Inactive Member VegasCharlie's Avatar
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    Yeah ADBE looks like it's gonna pop in the coming days! Nice one!!!

  7. #7
    Inactive Member Cfaye's Avatar
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    Wink

    Thank you sooooo much!!!!

  8. #8
    Inactive Member jchavez's Avatar
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    My choice was FWLT. I've been trying to follow several stocks on the bearish side. The few trades I've made on the bullish side have turned sour. FWLT is certainly in a short-term downtrend with a few retracements in the pattern. Thoughts anyone?

  9. #9
    Inactive Member successful trader's Avatar
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    jchavez, it does look very good to me, as FWLT is definitely in a short-term downtrend. It seems to me that it is on the way back up.

  10. #10
    Inactive Member successful trader's Avatar
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    My choice is CF. It seems to be in an upward trend. It has been in an upward trend the past few days. It is being traded heavily.

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