EXT - Excite Technology Services

[jemma]

the idea is, when those beginners buy, they expect their stocks to sky rocket immediiatly after they buy.

it takes years to pick bottoms & thousands of dollars of losses to learn a lot of tricks to may assume that you're somewhere near the bottom.

action is coming soon & market testing is in process in my opinion.

Agreed IGO they are just testing the waters now.

Do you think that 8.9 seller is real or a fake???

 

[Sean K]

Will you guys value add, or go to the chat room.

 

[IGO4IT]

Agreed IGO they are just testing the waters now.

Do you think that 8.9 seller is real or a fake???

I don't know Jemma but defenitely his existance sitting there won't get him to sell if he wants to REALLY sell & more or less if you see the final result of his existence is still that buyers on 8.9c & above are mostly selling below 8.9c gradually 1 by 1 while the big order doesn't want to sell.

Yesterday it had the chance to find liquidity around 8.6 - 8.7c but didn't sell. May be that order got sucked in & got scared by yesterday's movement.

if that order moves or changes qty then I can tell you what's the purpose of its existance.

I'm watching carefully but so far looks positive!

 

[jemma]

Will you guys value add, or go to the chat room.

Please add value Kennas, we are waiting.

 

[jemma]

Will you guys value add, or go to the chat room.

Kennas, can you see a cup and handle pattern forming on the weekly?????

 

[Casual_Investor]

hmm jemma... still trading at 8.7... doesnt look like its gonna go up today

 

[jemma]

hmm jemma... still trading at 8.7... doesnt look like its gonna go up today

Casual, you have to take into account the overall market, can't you see the sea of red??

Come back at 3:45pm and comment then. :burn:

 

[IGO4IT]

hmm jemma... still trading at 8.7... doesnt look like its gonna go up today

the last half an hour of trading today will give us a lot more info about the mood & tomorrow's action.

You'll have to have more patience than 1 day .

defenitely its looking stronger than yesterday & support is giving me the idea that we are in the right direction...we'll have to wait & see!

 

[IGO4IT]

Kennas, can you see a cup and handle pattern forming on the weekly?????

Jemma, on the topic of the weekly chart.....am I the only one that can see that we've broken the 4 months downtrend this week?

 

[Sean K]

Kennas, can you see a cup and handle pattern forming on the weekly?????

Jemma, there is a vague one, on the daily, but on a bit of a negative slide. The cup and handle can be seen as drawn, but pretty sketchy. You can read into this what you like really.

Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential.

Cup: The cup should be "U" shaped and resemble a bowl or rounding bottom. A "V" shaped bottom would be considered too sharp of a reversal to qualify. The softer "U" shape ensures that the cup is a consolidation pattern with valid support at the bottom of the "U". The perfect pattern would have equal highs on both sides of the cup, but this is not always the case.

Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which is conforms with Dow Theory.

Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement is, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup.

Duration: The cup can extend from 1 to 6 months, sometimes longer on weekly charts. The handle can be from 1 week to many weeks and ideally completes within 1-4 weeks.

Volume: There should be a substantial increase in volume on the breakout above the handle's resistance.

Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup.

So on the chart, the depth and the handle length aren't that great. If true, and the handles resistance broken at $0.11, this will give a target of about $0.145. No blue sky on the chart. Yet.

 

[Joe Blow]

Kennas, thank you for adding some real content to this thread.

Too much ramping and petty bickering going on here for my liking. If that is what you are here for then please make use of the chatroom. Please don't clutter up this thread with posts with no content. It is not a competition to see who can post the most.

Thank you.

 

[IGO4IT]

So on the chart, the depth and the handle length aren't that great. If true, and the handles resistance broken at $0.11, this will give a target of about $0.145. No blue sky on the chart. Yet.

unfortunately, the same exact pattern exist in at least 10 other mining stocks since the May correction, they're all identical.

The interesting part is that buyers & pressure of demand is coming back to all miners at the same time....but also we can argue that fundemental events for all miners (or at least U prospects) were very close in timing to each other since its the reporting season now anyways.

on Last year's XJO chart we had the same dip in May but recovered end of July & defenitely we're recovering now but a bit slower on smaller miners.

 

[jemma]

Jemma, there is a vague one, on the daily, but on a bit of a negative slide. The cup and handle can be seen as drawn, but pretty sketchy. You can read into this what you like really.

Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential.

Cup: The cup should be "U" shaped and resemble a bowl or rounding bottom. A "V" shaped bottom would be considered too sharp of a reversal to qualify. The softer "U" shape ensures that the cup is a consolidation pattern with valid support at the bottom of the "U". The perfect pattern would have equal highs on both sides of the cup, but this is not always the case.

Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which is conforms with Dow Theory.

Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement is, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup.

Duration: The cup can extend from 1 to 6 months, sometimes longer on weekly charts. The handle can be from 1 week to many weeks and ideally completes within 1-4 weeks.

Volume: There should be a substantial increase in volume on the breakout above the handle's resistance.

Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup.

So on the chart, the depth and the handle length aren't that great. If true, and the handles resistance broken at $0.11, this will give a target of about $0.145. No blue sky on the chart. Yet.

Kennas and IGO,

Looking at it more closely, it is not a cup and handle pattern but a flag is forming now:

It appears to be in the process of closing the gap with the zone of resistance between 8.5 and 9.7. It is forming a flag rather than a cup and handle, and will be OK as long as the volume stays low (indicating usual profit taking). If it breaks above today's high tomorrow then it should rally, but if it continues to fall and volume starts to pick up then that's another story.

One thing we need to bare in mind is that if it breaks below 7.5 again it will not be coming back, for they rarely come back after the fourth attempt at support.

Hope that adds value to you kennas.

 

[Casual_Investor]

Kennas and IGO,

Looking at it more closely, it is not a cup and handle pattern but a flag is forming now:

It appears to be in the process of closing the gap with the zone of resistance between 8.5 and 9.7. It is forming a flag rather than a cup and handle, and will be OK as long as the volume stays low (indicating usual profit taking). If it breaks above today's high tomorrow then it should rally, but if it continues to fall and volume starts to pick up then that's another story.

One thing we need to bare in mind is that if it breaks below 7.5 again it will not be coming back, for they rarely come back after the fourth attempt at support.

Hope that adds value to you kennas.

so if im hearing correctly.. uve changed your perspective on EXT now jemma? So the talk about it breaking 11 cents now is pretty much out of the question...

 

[jemma]

so if im hearing correctly.. uve changed your perspective on EXT now jemma? So the talk about it breaking 11 cents now is pretty much out of the question...

No, I am not saying that at all Casual, you have misread my quote, please read the following on the flag formation and learn. IF you cannot understand it you should read more books and learn more. It is in consolidation only for a short time, read this:

A flag occurs when there is a straight up move in a stock. This movement is often nearly vertical, and at the very least is extremely steep. The move is so rapid, in fact, that on a daily chart a trendline can't be drawn. Typically, the move occurs on very strong volume and lasts a few trading days. Gaps will often be present within this part of the move.

This rapid upside movement is called a "flagpole." Gradually, however, buyers are no longer willing to bid the stock up. Sellers, many of whom are showing extremely nice profits in a short period of time, move in to nail them down. But rather than sell off sharply, prices decline very gradually as eager buyers who missed the initial move snap up the stock.

The flag is thought of as a consolidation pattern. A stock typically leaves a consolidation pattern in the same way it enters it. The flag is therefore expected to eventually move higher. What forms after the flagpole is the flag itself. Visualize the Stars and Stripes or your own national flag flying in a gentle breeze and you will picture the flag formation.

The flag part of this technical formation typically takes the shape of a parallelogram or a rectangle that is tilted on its side and is sloping downward. Very occasionally I have seen flags that consolidate at the top of the flagpole in a normal rectangle, and more rarely still I have seen those that slope upward. As the rectangle matures, there is typically a drop off in trading volume as the stock fades as a hot issue and other sizzling stocks with more recent news take its place in the minds of traders.

It is easy to lose track of the stock at this stage, as it is not "doing anything much." However, if the stock breaks out of the parallelogram, particularly on increased volume, then it is again likely to present a rewarding trading opportunity to the alert swing trader. If, on the other hand, the stock does not break out of the parallelogram in a roughly 15-20 trading-day time period, then it is likely the flag formation will fail.

 

[havingfun]

I'll be very sad if EXT drops off the planet cause it'll be back to watching neighbours re-runs.For all the bull**** sprouted its been entertaining.

 

[Casual_Investor]

Any predictions for tomorrow Jemma.. sorry to say but you were wrong today.. you sed low 9's.. (which is exacly what SDL did) not quite the case.

 

[jemma]

Any predictions for tomorrow Jemma.. sorry to say but you were wrong today.. you sed low 9's.. (which is exacly what SDL did) not quite the case.

As per flag explanation, it should just simply drift up and down between 8.5 and 9.7, so tomorrow if the market it good, should move up a few ticks to approx 8.9/9 cents.

 

[Casual_Investor]

i see.. and waht about the weeks coming ahead? Without another news announcement.. can i expect another breakout?

 

[jemma]

i see.. and waht about the weeks coming ahead? Without another news announcement.. can i expect another breakout?

Yes, expect breakout in approx 2 weeks time for another crack at 11 cents.