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chartsrgood
04-01-2011, 03:37 AM
Thought I had found an interesting stock tonight, a very interesting stock when I spotted a beautiful reverse head and shoulders on WINN, Winn Dixie. I mean it really looked good. So much so my mouth I think was even watering!

Then I looked at the chart history. I have never seen anything like it. One after another the pattern failed every time about 5 or 6 times going back to 08 on the daily. There are about 7 of them on the chart. Unreal!

Own Real Money
04-01-2011, 04:54 AM
Were those failures you refer to due to the gaps?

Looks good with a limit entry of $6.80. Stop 6.49. Target $7.82.

But don't pay attention to me. I am not certified to give financial advice in any state of the U.S. or anywhere else. DYODD por favor.

chartsrgood
04-01-2011, 09:31 AM
I don't think the gaps had anything to do with it, jmo.

fwiw the trade set up you mentioned looks good... if it is going to hold the pattern 6.80 might be a little low to get it.

After a failure every time on this so far, I'm going to leave it alone.

On the fundamental side, the company is losing money and the insiders have a pittance of stock.

chartsrgood
05-08-2011, 10:24 PM
Were those failures you refer to due to the gaps?

Looks good with a limit entry of $6.80. Stop 6.49. Target $7.82.

But don't pay attention to me. I am not certified to give financial advice in any state of the U.S. or anywhere else. DYODD por favor.

fwiw
This is from about 4/1/11
The trade is still on if entered. Stock has not done much but have not been stopped out.