← Autodidact Archive · Original Dissent · JoseyWales
Thread ID: 18945 | Posts: 2 | Started: 2005-07-01
2005-07-01 22:25 | User Profile
I see what might be a pattern that is called an "Ascending Triangle" forming on the chart of NOC. This is a bearish reversal pattern. If it plays out correctly, in the coming weeks, we could very well see a drop below 50.
Time will tell
;=)
2005-07-02 06:58 | User Profile
The stock is right at its 50 day moving average on declining volume. Big institutions who actually are the ones who move stocks, not retail traders, key off the 50 and 200 day moving averages. However it is still in a bit of an uptrend.
Also there are difference of opinion on triangles. Triangles do mean a stock is ready to break out one way or the other, but some observers have found no correlation between the direction of the breakouts and the shape of the triangles.
[url]http://ichart.finance.yahoo.com/z?s=NOC&t=3m&q=l&l=on&z=m&p=m50,m20,m200&a=vm[/url]