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Hello Paul,
FWIW, there is usually profit taking around a new high so you will very
often see a pullback. A sustainable breakout usually consists of long up
bars closing on the highs accompanied by high volume punching right through
resistance. The move is more likely to resume if the pullback is on reduced
volume. In my experience, the way to play the pullback is to look for a
break above the high of the previous down bar. The stop should then be
placed just below the low of that bar. This is a relatively low-risk setup.
Regards,
Kevin
At 08:10 25/05/2007 +0000, you wrote:
>I have been looking at breakout and gap explorations that people have
>provided on various places on the web. But they don´t seem to fit when
>you look at the stocks they pick with the chart. Basically they are
>pretty worthless
>
>As I understand a breakout is when prices pass through and stay above
>or below an area of support or resistance. I don´t know but I would
>imagine higher than normal volume would be of importance.
>Has anyone such an exploration that fits these market conditions, is
>it useful and would you be willng to post it up here.
>Many thanxs
>
>PAUL
>
>
[Non-text portions of this message have been removed]
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