Stocks To Keep A Close Eye On
- Thread starter SavantGarde
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- Tags afl amibroker
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I was going through my charts saw something that I thought would be useful:
Point and Figure: Basically point and figure charts hide the price moves smaller than a particular value so if a scrip moves in a 50ptrange and the delta is 100 the moves are not added to the chart. It doesn't have a time axis so one month of moves in a narrow range of 50pts means that month will not add any info to the chart. However P&F charts are thus suited well for long term chart analysis.
It is extremely simple. Look at the BEL attached chart. The X (blue) are up moves and o (red) are down moves. So when the X's stop at the same level it is resistance and where the 0's stop it is support.
It has risen from it's own ashes in the computer age because of the simplicity it offer and convenience it offer when analyzing long-term charts.
Which brings me to the question: Savantji, Do you think BEL can find it's legs to continue it climb or is 1400 too much for it to scale.
Point and Figure: Basically point and figure charts hide the price moves smaller than a particular value so if a scrip moves in a 50ptrange and the delta is 100 the moves are not added to the chart. It doesn't have a time axis so one month of moves in a narrow range of 50pts means that month will not add any info to the chart. However P&F charts are thus suited well for long term chart analysis.
It is extremely simple. Look at the BEL attached chart. The X (blue) are up moves and o (red) are down moves. So when the X's stop at the same level it is resistance and where the 0's stop it is support.
It has risen from it's own ashes in the computer age because of the simplicity it offer and convenience it offer when analyzing long-term charts.
Which brings me to the question: Savantji, Do you think BEL can find it's legs to continue it climb or is 1400 too much for it to scale.
Attachments
Weekly charts are all screwed up after the 33% rally in 5 days. If that hadn't happened then I reckon it should have been about a 100 pts lower right now. Last time it couldn't even reach 1400 (fell short by 1pt). So if it hadn't happened I would say would should have been well below 1200.
Savantji, what to do?
Savantji, what to do?
Last edited:
Savant sir
u told me to wait till thursday this week my holdings are
Gujrat sidhee [email protected]
Assamco 100 @13.25
i have 800 more in wht shld be my next move
thank u
u told me to wait till thursday this week my holdings are
Gujrat sidhee [email protected]
Assamco 100 @13.25
i have 800 more in wht shld be my next move
thank u
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