Technical Analysis is Increasingly Popular
Technical analysis is one of the most basic and well-accepted approaches to investing. Developed in the early 1900s by Charles Dow (of Dow Jones Industrial Average fame), technical analysis is the study of market action. Using charts as the primary tool, a technical analyst forecasts future price trends of securities.
Security prices move in trends. This principle underlies technical analysis. Trends, however, do not last forever. As prices change direction, they tend to form recognizable patterns on the chart. These chart patterns often herald a predictable outcome in a security's price, enabling investors to identify new trading opportunities, or to confirm opportunities identified through other means, such as fundamental analysis.
By analyzing a security's historical prices, technical analysis allows investors to position themselves in the market. For the technical analyst, the past is the key to understanding the future. The essential tools for the analyst are the chart and the patterns formed on it.
Fast, Simple, Timely Access to Chart Patterns is Needed
Investors need fast, simple and timely access to chart pattern information from hundreds of thousands of financial instruments, from around the world, in order to make better trading and investment decisions.
The triangle pattern, also called the "coil," appears in three varieties:
1. ascending,
2. descending, and
3. symmetrical,
Ascending and descending triangles are also referred to as "right-angle" triangles.
Generally, a triangle pattern is considered to be a continuation or consolidation pattern. Sometimes, however, the formation marks a reversal of a trend.
Symmetrical triangles are generally considered neutral, ascending triangles are bullish, and descending triangles are bearish. From a time perspective, triangles are usually considered to be intermediate patterns. Usually, it takes longer than a month to form a triangle. Seldom will a triangle last longer than three months. If a triangle pattern does take longer than three months to complete, Murphy advises that the formation will take on major trend significance
What does an ascending triangle look like?
Converging trendlines of support and resistance give all three patterns their distinctive shape. This occurs, Kahn explains, because "the trading action gets tighter and tighter until the market breaks out with great force."2 Buyers and sellers find themselves in a period where they are not sure where the market is headed. Their uncertainty is marked by their actions of buying and selling sooner, making the pattern look like an increasingly tight coil moving across the chart.
As the range between the peaks and troughs marking the progression of price narrows, the trendlines meet at the "apex," located at the right of the chart. The "base" of the triangle is the vertical line at the left of the chart which measures the vertical height of the pattern.
An ascending triangle - the "flat-top" triangle - also shows two converging trendlines. In this case, however, the lower trendline is rising and the upper trendline is horizontal. This pattern occurs because the lows are moving increasingly higher but the highs are maintaining a constant price level.
To Learn More About This Pattern Review This Tutorial
Several Examples Of Trending123.com Portfolio Stocks Are Below
Hess Corporation, together with its subsidiaries, engages in the exploration, development, production, purchase, transportation, and sale of crude oil and natural gas. The company also manufactures, purchases, transports, trades, and markets refined petroleum, natural gas, and electricity, as well as offers distributed-electricity generating equipment to industrial and commercial customers. In addition, it owns a refinery through a 50% joint venture with HOVENSA L.L.C., as well as terminals and retail gasoline stations. The company markets its refined petroleum products to motoring public, wholesale distributors, petroleum companies, governmental agencies, and public utilities; and natural gas and electricity to utilities and other industrial and commercial customers. As of December 31, 2006, Hess Corporation had approximately 832 millions of barrels of crude oil and natural gas liquids; and 2,466 millions of thousand cubic feet of natural gas, as well as 1,350 HESS gasoline stations. The company was founded in 1920. It was formerly known as Amerada Hess Corporation and changed its name to Hess Corporation in 2006. Hess Corporation is based in New York, New York.
FLIR Systems, Inc. engages in the design, manufacture, and marketing of thermal imaging systems and infrared camera systems worldwide. It operates in two divisions, Thermography and Imaging. Thermography division produces systems that provide temperature measurement and thermal pattern, and other diagnostic capabilities used for various commercial, industrial, and governmental applications. Its cameras incorporate temperature measurement capability, enabling the user to perform various diagnostic and analytic activities. Applications for these cameras include electrical and mechanical preventative maintenance, process control, test and measurement, and scientific analysis. Imaging division offers various products, which enable the user to see in darkness and through various types of obscurants, such as smoke, haze, and fog. It offers hand-held imaging systems, as well as fixed mounted products for ground, airborne, and marine applications. Imaging products primarily include hand-held systems used for reconnaissance, surveillance, and law enforcement; stabilized gimbal mounted systems for fixed and rotary wing aircraft applications; fixed mounted ground systems for security and surveillance applications; and maritime systems designed for saltwater environment. These products incorporate additional sensors, including visible light cameras, laser rangefinders, laser illuminators, laser designators, and image analysis software. The company's customers include military, paramilitary, and police forces; original equipment manufacturers; commercial manufacturers; research and development facilities; universities; industrial companies; utilities; and news gathering agencies. It markets its products through direct sales, independent representatives, and distributors. FLIR Systems has a strategic alliance with Pelco, Inc. to offer thermal and visible light security surveillance systems. The company was founded in 1978 and is headquartered in Portland, Oregon.
Research In Motion Limited engages in the design, manufacture, and marketing of wireless solutions for the mobile communication market worldwide. The company provides platforms and solutions for access to email, phone, short message service, organizer, Internet, and intranet-based corporate data applications. It also licenses its technology to handset and software vendors to enable these companies to offer wireless data services using the BlackBerry Enterprise Server and BlackBerry Internet Service. The company also enables various third party developers and manufacturers to improve their products and services with wireless connectivity. The company offers its products to carrier partners, resellers, and end users. The company was incorporated in 1984 and is headquartered in Waterloo, Canada.
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JL,
Thanks for going the extra mile and getting the STV update out and online early. Alot of information in one update...truly one I hope everyone reads at least once (or maybe 8 times)!
I noticed it this morning before 7am AST/11am EST (Sat) so got a jump start on my weekend "homework".
I know you had a lot to get organized for you trip to the Money Show so was very pleasantly surprised to see an update for Sunday already in place.
Wish you the best in Vegas and look forward to any reports from the Money Show that we may receive.
Linda
