Thursday, September 23, 2010

Line formation and new breakouts

Netflix and dollar tree broke out from line formation more than 6 months back and tripled in prices.

The new ones I found are Citrix (CTXS) and OPEN, that broke the line formation couple of months back. One has to pick stocks that have broken line formation recently rather than extended rally for maximizing profits.

In case of Priceline, it formed a V-formation at price 180 and it is now at 340, that was almost double the price in a couple of months. It needs to be seen how much more this rally is going to extend. I am guessing another 10-20 percent. 400 price is a good point to sell and get out.

JKS has tripled in price. It needs to be seen if it can keep moving up. Results are due in december when 3000% increase in revenue is expected. Good idea to hold the stock till then.

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