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Tuesday, May 30, 2006

DAKT - 053006; 30-minute chart

posted by Tom C:

This is a little out of the box, as X would say. I was watching the 30-minute chart of DAKT after a small gap up. The first two bars left long upper tails, and the 3rd-6th bars never penetrated the OR high. They also narrowed in range, and the 6th bar formed a "hanging-man".

My target was the bottom of the retracement zone (from the previous day's low to the opening range high) and the rising 34MA. It was hit at the end of the day.

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