They just gave possitive guidance. I see bull flags but I have been known to halucinate.http://www.mobile87.com/swk.jpg
mobile,I don't see a vey good flag here on my daily charts. One thing I would suggest to you is that you *always* include and pay close attention to volume on your charts. Volume is critical to most of the patterns that you watch.On a flag, you want to see a high volume advance, followed by the "flag" shape on declining volume. What I see on SWK is a high volume selloff the first half of January, and a lower volume (relatively speaking) advance in the 2nd half. The "flag" may have been promising in the first few trading days in Feb, but the volume in recent sessions has not been what one would expect in an orderly bull flag consolidation. That's not to say that it won't head up, but technically speaking the odds do not appear to be stacked the way I'd want to play it as a flag.Have you read Edwards and Magee yet? If not you may want to read this:http://boards.fool.com/Message.asp?mid=16135438--Derek
Agree with Derek here, it's not too clear, especially the volume.Here is a pic with some notes:http://home.earthlink.net/~dbradford1/Charts/SWK020902.gifThere is no price projection there, just a suggestion that prices will continue to go lower.In essence, I would wait for the range break but I am not much of a risk taker.Regards,TAfool
Here's an update, albeit late, to SWK.The chart has some notes on it that pretty much explain my views. Actually, I like this one quite a bit now and will buy some on a pull-back, unless I get a wild hair and just go hog wild. As stated on the chart, any long taken now is likely to suffer a draw in the next few weeks but should ultimately turn out to be a great long play. 6 months to 1 year hold, maybe?http://home.earthlink.net/~dbradford1/Charts/SWK051203.gifTAfool
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