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glock35ipsc
03-31-2006, 05:45 PM
Or anyone else for that matter.....

Just wanted some advise on something. I have been reading some Toni Turner books, and got to looking at a stock I own. I just want someone to verify what I think see.

If you look at AVNC, and look at the last two days, do the candlesticks form a bullish engulfing pattern?

I just want to be sure I am actually learning something..... or not :mrgreen:

Also, she talks about "clear" and "dark" bodies, but Stockcharts.com also shows "red" bodies. I figure on Stockcharts.com, clear and red = clear and dark in Toni terms. What does the black bodies represent?
glock35ipsc
03-31-2006, 10:10 PM
Anyone?
GDFLS
03-31-2006, 10:42 PM
Wish I could help you. I need a leasson in charts myself! I just wish there were a video or power point demo on charts.
roy
03-31-2006, 11:03 PM
I am new at this and I am no expert but I can tell that you got yourself a Bullish Engulfing. I validated it by checking Bullish Engulfing patterns at Stockfetcher.

Red solid means colose is below previous day's close. Black solid means close is above previous day's close.
mlegha1
03-31-2006, 11:16 PM
New to technical side too, but I think it is not a classis Bullish Engulfing pattern, the price action of the white candle doesn't completely engulf the preceding candle.However I think that the dark/red hammer that was formed by yesterday's price action marked a reversal(appearing in a downtrend) and the white candle from today further confirmed the hammering of the price up.
Mad Girl Investor
04-01-2006, 08:11 AM
http://www.stockta.com/cgi-bin/analysis.pl?symb=AVNC&num1=1&cobrand=&mode=stock

Yes it is a bullish engulfing. Look at the very bottom of this site to see. Nice pick!
TheChartGuru
04-01-2006, 09:15 AM
Or anyone else for that matter.....

Just wanted some advise on something. I have been reading some Toni Turner books, and got to looking at a stock I own. I just want someone to verify what I think see.

If you look at AVNC, and look at the last two days, do the candlesticks form a bullish engulfing pattern?

I just want to be sure I am actually learning something..... or not :mrgreen:

Also, she talks about "clear" and "dark" bodies, but Stockcharts.com also shows "red" bodies. I figure on Stockcharts.com, clear and red = clear and dark in Toni terms. What does the black bodies represent?

Yes, it is a bullish engulfing pattern. The last candle only needs to "engulf" or cover the previous day's "real body" not the top or lower shadows. The translation is that the last day must open lower then the previous day and close higher then the previous day. Red or dark candles, depending on the chart service, represent negative days and green or hollow candles represent positive days. I don't know why Stockcharts use the black and red candles to represent a down day. I'm sure their tech support could tell us

The Guru has spoken
jacobnbr1
04-01-2006, 09:42 AM
there is a real good story about these in sfo magazine this month. they call it "the j hook". they claim a pull back to a sma ( and avnc did pull back to sma9) with a dogi, spinning top and a bullish engulfing is a prime buy signal. there is some bullish buy signals being given here, imo. i am not sure if a bullish engulfing should be used as a stand alone indicator though??? they did however disregard the stochastics indicator as it said no buying.
glock35ipsc
04-01-2006, 10:22 AM
MadGirl - Thanks for that link, that site is awesome!!

Thanks to everyone else for your opinions! I really enjoy reading Toni Turners books, I am learning a lot.

As for AVNC, I think this stock is going to make people some serious money come the end of next month. They are working on approval of a once-a day dose of Pennicillian called Amoxicillin PULSYS. I am currently taking Amoxicillin for a tooth infection, and taking it three times a day really blows. Theirs will be a once a day dose.

For those interested, do some DD on this company. They are expecting an FDA approval on or around April 20, and if approval is granted (and it is expected to), this will be awesome! Listen to the last CC from March 8 or 9 if I remember correctly. Very convincing.

Thanks again to all those who replied!
teno4212
04-01-2006, 07:08 PM
This specific one is also called a White Marubozu right? because there are no shadows and it's pretty and white.
zyzzyva57
04-01-2006, 08:07 PM
I would want to see a firm $5.30 before I would buy
the_menace
04-01-2006, 08:16 PM
I would want to see a firm $5.30 before I would buy

By the time it hits 5.30 you most likely have missed the bus...big time! :)
Mad Girl Investor
04-01-2006, 10:51 PM
I would want to see a firm $5.30 before I would buy

Why?
NATHAN LLOYD
04-02-2006, 03:23 AM
To buy on a breakout from resistance or a trading range.
the_menace
04-02-2006, 03:44 AM
This could be another leg up but I'm worried about the 'weaker' volume on that previous close. That engulfing pattern makes it interesting though...I'd be definitely watching this one closely next week. BTW, that 3.50-.60 resistance is weak...so I probably wouldn't consider that a solid confirmation.
zyzzyva57
04-02-2006, 06:53 AM
http://stockcharts.com/candleglance/?GS,avnc|D|A12269
Mad Girl Investor
04-02-2006, 10:25 AM
Dont get the correlation between the charts you posted, Zz?

GS vs AVNC?
zyzzyva57
04-02-2006, 11:05 AM
Sorry I did not explain--The only correlation I meant was what I consider a near perfect chart ("gs") for comparison--That was all...

Thanks for reminding me to explain. I just keep "gs" handy to remind me what I like to see in a stock's snapshot (i.e., chart)...
glock35ipsc
04-02-2006, 11:32 AM
The reason for the drop last summer was the PIII trial failed. They have since identified what caused the failure (needed 10 days instead of 7, and the subjects need to eat a meal BEFORE taking the dose).

After reading everything I can find on them, and listening to their CC's, I feel very good about the results of this trial.