IGT confirmed breakout

[Stocks4life]

making a run intraday

BREAKOUT CONFIRMED breakout above 17.57, no resistance in area just above.
Type: True breakout from double resistance.
Target: 18.66, 5.6% Stop: 17.3, Loss: 2.1%, Profit/Loss ratio: 2.7 : 1 - Good

source: http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=IGT

 

[blah12345678]

Oh BS.

This isn't a breakout stock.

The all-time high is over 49.41 set in on 2/26/2008.
There is resistance around 20.5-22.5, which is the peak of the the reaction after IGT crashed from 50 to 7 in 2008.

There is a big ceiling at 26.

You need to look longer than 8 months when identifying "breakout" stocks...

This stock has threatening thunder storms overhanging it, not clear blue skies...

 

[Stocks4life]

I find 8-12 months back enough for breakouts but everyone has their own opinions of what works for them.