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This is the weekly chart of TZOO and I am curious how everyone feels about this latest base. I see it as a third stage, V-shaped, Double Bottom base with several warning signs. The peak week (4/29/11) is an ugly bearish reversal, selling is extremely heavy on the left side of the cup w/ most weeks closing at the bottom of their range, volume is falling as the right side of the base develops, and the base corrects 50.4%. The trade also appears wider and looser than in the stock's prior consolidations (this base lacks any sequential tight trading weeks whereas the previous bases had some). WON says that sometimes leading volatile stocks may correct 50% during a bull market, but that charts correcting more than this tend to fail 5-15% beyond their breakout prices (HTMMIS, 4th ed. p. 113). I am not considering TZOO as a purchase but am very interested in any and all opinions you guys might have? Thanks. Brad
I'm not touching this one. > 50% deep; handle in the lower half of the base. most of the trade is in the lower half of the base; volume didn't really dry up in the handle or in the lows of the base. Good eps and sales acceleration might be enough to take it to a new high, but I don't know of a precedent that has such a deep base.
you see the breakout from what you ve labeled base 2? It made a nice 100% run and those that didn't get out on that nasty down day on 26th of April probably got out when the stock went under the buy point of base 2 , 16th of June :). So they run up 100% and then down to ground zero. It is reasonable to believe that because of that the stock will run a good 200% just to annoy people even more :)
I bought the stock on yesterdays break out based on somebody elses recommendation off the chart pattern and as a lead up into earnings. I will sell tomorrow. They report EPS on Thursday. I wouldn't normally have bought a stock like this because of the "V" shape and the handle setting up more than 15% below the top of the base. There is no play here if you are not already in. Far too dangerous, especially ahead of earnings. Some tech earnings have been good and AAPL is likely to be good tomorrow. EBAY reports after tomorrows close. I think it is worth it to buy EBAY in advance of earnings with a tight stop to see if it works on tomorrows open. EBAY is a double bottom with a handle. Breaking over handle today.
To all: Great comments. It looks like somebody is liking it above the &78.50 buy point (if you agree with my Dbl Bttm call). I am very content to sit on the sidelines and watch this one. Regardless of which way it ends up going, it is a good stock for discussion at all of our local IBD meetups. Brad
Ouch, it hurts my eyes. Looks horrible.. So much red.
it looks yummy, but things are thought different if people have been hurt like livermore. But Tzoo looks dangerous and third base is obviously to everyone. Profit taking will be occurred for those who have bought stock at $3.72 of January 3, 2009 bottom util $103.80 top
if that's a handle forming, its very deep :)
Agree with you all and it appears clear today that this chart is officially broken!
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