Earning 1-28 Before market open. Recently overbought with RSI set on 80 but is No longer overbought on daily, weekly or monthly RSI.
With the volatility of the market as of late, possible stop below upper trendline of triangle looks safest if you plan to hang and under the neckline if you are being more cautious. The ATR is 4.62. You can also multiply the ATR x 2 and subtract that from price and place a stop there. It does seem to me that price often pulls back some before earnings, but not always.
Average true range (ATR) is a volatility indicator that shows how much an asset moves, on average, during a given time frame. The indicator can help day traders confirm when they might want to initiate a trade, and it can be used to determine the placement of a stop-loss order.
No recommendation. Long entry level can be paramount. The red candle yesterday tested the neckline for support. I meant to circle it but forgot and you can't go back Bob (o:
Good judgement often comes from experience and experience can come from the mistakes we make (o:
yes it seems same on my scan 337+ if we get any good volume ... what you think about WEC , AEP ?? thanks
lauralea
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@TORNADOF5, they have similar charts with double bottoms and a cup forming/both have a cup trying to form/both may pull back a bit
TORNADOF5
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@lauralea, wow thanks i will put my eye on them ...
lauralea
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@TORNADOF5, Number one question I ask myself, does the security have a reason to move? This one does. Earnings soon and we know an earnings miss can negate gains. From what I looked at, this one has a good chance of beating the numbers. But even then, it depends on market conditions at that time and how well the news is received. So many unknowns and we can only make an educated guess I suppose. Earnings 1-28 BMO
what you think about WEC , AEP ??
thanks