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Author Message  baggus Member Username: baggus Post Number: 1 Registered: 04-2009 Rating: N/A Votes: 0 Wednesday, May 20, 2009 - 08:36 pm:     I think maybe it will be a case of 3rd time lucky to see CBH going above 12.5c. I note the last two occasions that this stock made a move from about the 9c area it zoomed to abt 12c on good volume in 1 day then the very next day had nearly equal volume on the way back down.. However, yesterday's large volume and swift move action, again to 12.5c, has been followed by a day of slightly lower volume but not a lower close. Classic? pennant action over the last month both in its structure and decreasing volume action. Does anyone agree that this could mean CBH is about to break the 12.5c resistance and travel towards the top of the channel resistance line I have drawn on its chart? I'll be watching it over the next day or so to see what happens but if anyone has an opinion they feel they want to add it would be welcomed. Baggus  palace Member Username: palace Post Number: 866 Registered: 06-2003 Rating: N/A Votes: 0 Thursday, May 21, 2009 - 12:20 pm:     hi baggus i might be wrong but I am not sure if your bottom trendline is valid ,shouldnt it touch 3 times to be a confirmed support/trendline? cheers mick (Message edited by palace on May 21, 2009) C:\Documents and Settings\Michael\Desktop\flying pig.gif  baggus Member Username: baggus Post Number: 1 Registered: 04-2009 Rating: N/A Votes: 0 Friday, May 22, 2009 - 12:20 am:     Hi Palace....yes, valid point re: accuracy of trendlines. I guess maybe I was trying to highlight what appeared to be a classic pennant continuation action forming and show with some sort of validity the upside potential on breakout. Maybe you will be a bit more comfortable, as I am, with my revised chart below showing more clearly the pennant I was refering too, the base support line of that pennant and the subsequent // projection line taken from the peak of the pennant. Today's action comforts my opinion that participants are looking for higher prices. Do you agree? Baggus  palace Member Username: palace Post Number: 870 Registered: 06-2003 Rating: N/A Votes: 0 Monday, May 25, 2009 - 11:34 am:     hi baggus yes ,looks better i reckon ,not sure about that volume decreasing at resistance level , will have check that out,but my first thought is that it might retrace ,who knows ? good luck with it cheers mick Incredible Charts now with US Data AMEX, NASDAQ and NYSE data OTC BB and Pink Sheet stocks more than 500 market and sector indices FREE trial - Click Here C:\Documents and Settings\Michael\Desktop\flying pig.gif  flipacoin Member Username: flipacoin Post Number: 5 Registered: 04-2009 Rating: N/A Votes: 0 Monday, May 25, 2009 - 03:03 pm:     It has a lot of ground to go, but has it got the steam power? It looks like its slowing down to find it's market price.

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