NASDAQ:ANAC   ANACOR PHARMACEUTICALS INC
48 1 0
I4
2 years ago
There is much more to add strength to this system, such as using lower indicators or Point+Figure charts, which is what I like to use. Also the way the gap is filled/ corrects to the 50ma is also another aspect of how to tell if the stock is strong and will most likely continue with its uptrend. I find corrections after gaps that have rounding tops makes the pattern twice as strong and if the gap isnt completely filled as in this case where it got early support from the 50ma and trendline. I also like to see the correction have relatively low volume and have more down days than up, which will be the case for most stocks.
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