The Four Tops
As chart formations go, you don’t usually see a quadruple top or bottom. With
that knowledge, breakouts or breakdowns above and below triple tops will often
be a harbinger of a powerful move starting up, even on an intraday basis.Â
Yesterday, some of us were discussing this pattern formation in the TradersWire
Interactive chat room in Cabot Microelectronics
(
CCMP |
Quote |
Chart |
News |
PowerRating) on
the five-minute chart:
Â
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Minutes after the discussion, CCMP pops to the upside for 2
points.Â
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Some of the members in the room were able to take advantage of
this setup, which happened so fast that it probably would not have been able to
be alerted in time without the new interactive chat room. If you have not come
over and seen how this tool can benefit your trading, come on down!
Have a great weekend everyone!
Until Monday,Â
Duke
P.S. Many heartfelt thanks to all of you who expressed condolences
on the death of my wife’s aunt. Lala was quite a lady, and all of your
sympathies are much appreciated by my family!