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Looks like KORS is breaking out of a high tight flag. Anyone care to comment?
It looks like it to me. "Starts with a a flag pole or a nearly vertical ascent ot at least 100% in four to 8 weeks. That's followed by a flag - a low volume pullback of 10-15% in 3-5 weeks. Oftern appears in a stock's early run, usually after a change has occured to dramatically improve a company's competiveness or fundamentals."
The run up isn't quite 100%. I don't know what the change may have been.
Well I tend to agree, it looks like a high tight flag to me, I went over all the examples in How to Make Money in Stocks, and in my Chart School book, looks like a high tight flag I added a bit to my early postion here, and will see how it works Out! Surprised everyone else is not all over this am I missing something?
How about it being a Short Stroke pattern - that's what it looks like to me.
Just a follow up. I see the paper hasn't made a comment to indicate a high tight probably because it doesn't fit the exact technical definition ie the flag is barely two wks in length. Of course the first consolidation of two wks doesn't fit the definition of an IPO base. So anyway I initiated a small position because the two wk pullback showed constructive action on every single day and I know that this purchase constitutes a riskier move which I am willing to accept.
which week of GOOG are you talking about
If I may, I'd offer the suggestion of:
*Understand how this Industry Group moves
*Find past precendent winners (Model Book) that you can model this current behavior from.
You may find these two aspects very important.
KORS is a beast. Trying to re-load long here above the 10-day (out since late friday). Today is promising :)
Question with high tight flag: when do you suppose to take profit on this if it does breakout coz I noticed looking back at the chart that the most it got is about 10 percent? Does a lot of stocks that exhibit this chart pattern breaks out on the upside? and what will be your stop loss on this one in case it goes south?
Is this stock as good as it looks --- it gets going and they throw another 20 million shares on it-----are we the pawn for the insiders?????
Should we buying to make Mike Kors able to keep taking out money and bouncing us down
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