Is AMSI is a shakeout? February Investolator recommended buy anytime, and it looked like it broke out of the downtrend line. Now it looks like it could fall back. Any thoughts?
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I believe AMSI is in a shakeout. I bought at 4 so I really hope it goes to at least 8. I just looked at the volume and it is high for the month of Feb & March. I really don't see how it could have been distribution, but I'm not certain.
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Maybe it's me, I am a new TW student so maybe I'm not seeing what you guys are seeing. But Looking at the chart....to me.....it looks like the opportunity in AMSI is over for now. It looks like it's going into the accumulation stage again.
MIT
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It looks to me like AMSI is in a "shakeout" phase. I have not been following the price progression of this stock as I have not made a purchase of it. If you have been following it and own it; following TW's principles, if in the next severeal days or so (could be two weeks) it forms a "cup and handle" (which is what a shakeout formation is called) you can stay in it. However, if the trend for AMSI goes back down toward its accumulation price (in a descending triangle pattern) it might in fact be done for now. You will know if a cup and handle are forming two thirds of the way through it's formation and you will be able to tell if you should stay the course. If it forms a cup/handle, I personally would buy at this 2/3 formation point. That way I will be buying at a lower price and resumption of the accumultion phase would "most likely" be confirmed, probability would be 96%.
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What exactly am I looking for in a cup and handle formation? When would it be at 2/3 formation? I would appreciate any further clarification. I am still trying to understand some of the terminology.
Thank You.
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Hello Phillip: You can look at FMBI.You will see a cup and handle. And to help study the cup and handle click on to WWWtradetrek.com-Then click onto technical on the tool bar. This will show you many different formations. Good luck
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Cup and handle ont hat web sight you gave to the board
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April 1 2000, 7:37 AM
Thank you for the help I too own AMSI and took a look at that sight, could you narrow it down on fmbi (dates) of this formation of cup and handle. Thanks in advance ....>>>>ARAPAHOE<<<..
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Imagine, if you will, a old fasioned coffee cup with a cut-a-way sideview (this will be the cup) "shakeout" formation. The handle is just a much smaller formation just as the cup formation ends (this is your shakeout phase)another smaller "handle" (which is a much smaller shakeout phase) comes right after the cup. You will know them because they look similar to a "U" for the cup and a much smaller "u" attached to the larger U they look just like a cup and the handle of a coffe cup. It is amazing how all shakeout phases look similar! You will be able to tell if it is a cup 2/3 of the way through. The little handle comes after the cup has formed. However, if AMSI should become bearish you will see the cup turn into a descending triangle or wedge. Whereupon it might resume accumulation, but the triangle has to point upwards in an ascending direction to signal that it can continue upward. Hope this helps you out Phillip.
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Sorry, in reviewing the chart for AMSI I would like to decrease the probability of a continuation of it's accumulation rise in AMSI to about a 50/50 probability instead. Rationale: Taking another look at AMSI's chart I noticed that there have been one or two shakeout formations in the past and they have gone on to make some minor rises. TW's literature does not cover this occurance, therefore I would observe caution in the case of AMSI's ability to resume a concerted accumulation after it's current shakeout stage. Especially considering the market's current disdain for most things Medical/Biomedical etc. As you know though TW says that this type of fundamental influence is mostly inconsequential.
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