Second Installment: I thought I would share with all some charts that are, for lack of a better description, "Trending Now".
Disclosure - I do own TRNO-and added some more last week during the 900 point (DOW-Industrials) pullback.
As you can see from the chart above, TRNO-got even stronger.
This stock is only 1.15% off its 52 week high - and set several new highs last week. The trend is strong, but not as strong as-ADC.
From a non-technical perspective, the dividend yield is 2.80%, so this is a big attraction to institutions.
Let's review Don's TRADE-MAP approach:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach:
1. The Ichimoku Cloud is rising as well as the 89 day moving average . 2. Prices have risen above the cloud. 3. Prices are trading above the thick red Ichimoku Cloud Conversion line.
4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic , and this is strong. 7. The top middle indicator is vortex and it is strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is STRONG. 9. The green fractal arrows are up (not shown). 10. Look to the far right on the chart, around $25. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend.
A pullback is likely. A good entry point is the thick black line above the alligator teeth. This is the Ki jun-Sen baseline of the Ichimoku Cloud (right around $25).
I would like to close with three quotes from Emma Bombeck:
1. "When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left, and could say, 'I used everything you gave me'."
2. "Never go to a doctor whose office plants have died."
3. "When your mother asks, "Do you want a piece of advice?" it is a mere formality. It doesn't matter if you answer yes or no. You're going to get it anyway."
I hope this has been entertaining and informative. I hope all of your trades go well. Don.