This is the 3rd time now that we have hit 18c. I have to say is that my holdings in AQO are now up to what I paid for them (17-18c). I had previously said that I was only holding them for a tax loss.....this is now been wiped out (which is good). However after seeing this stock go as low as 8c I'm now in the frame of mind to sell these if it doesn't break the 18c and just hold my free options (Which I have close to 1million. If it's going higher....I want to hold obviously!
If there is any chartist out there that could be so kind and give us your predictions from reading the past I would be grateful. My skills aren't great in them but I find them fascinating.....is that an ascending triangle?
Often a bullish chart pattern, the ascending triangle pattern in an uptrend is not only easy to recognize but is also a slam-dunk as an entry or exit signal. It should be noted that a recognized trend should be in place for the triangle to be considered a continuation pattern. In figure 1, you can see an uptrend is in place and the demand line, or lower trend line is drawn to touch the base of the rising lows. The two highs have formed at the top line. These highs do not have to have reached the same price point but should be close to each other.
The buyers may not be able to break through the supply line at first and they may take a few runs at it before establishing new ground and new highs. The chartist will look for an increase in the trading volume as the key indication that new highs will form. An ascending triangle pattern will take about four weeks or so to form and will not likely last more than 90 days.
How do the longs (the buyers) know when to jump into the issue? Most analysts will take a position once the price action breaks through the top line of the triangle with increased volume, which is when the stock price should rise an amount equivalent to the widest section of the triangle.
AQO Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held