We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the Intevac Inc. (NASDAQ_IVAC).
I hope you are having a GREAT week !!!
This week let's take a look at a low priced stock that looks to have a good chance of turning into a high priced stock.
When trading stocks we use the Marketclub monthly green Trade Triangle to determine the trend, and then we use the MarketClub weekly green Trade Triangle for timing the trade.
IVAC has a MarketClub score of +100, so all three Trade Triangles daily, weekly, monthly are pointing up right now which puts the odds in favor of the bulls.
Since IVAC is has just broken out of the base you could buy the stock, and then exit if it trades lower and puts in a weekly MarketClub Trade Triangle sell signal.
You could also just watch IVAC and wait for it to have a counter trend correction, which would more than likely turn the weekly Trade Triangle red and then wait for the next weekly green Trade Triangle to enter.
As long as the monthly Trade Triangle stays green, you can use the weekly for entering and exiting trades.
The great thing about trading this way is that you are :
#1 - Trading with the trend.
#2 - Cutting losses short.
#3 - Will be in the stock if a big trend move happens.
So IVAC is an excellent Chart to Watch to watch, as the odds are with higher prices right now.
Thanks,
Jim Robinson
Profit Trading.com
