Earnings 12-3 AMC..
COO was trading in a rising narrowing bearish rising wedge but has broken bottom trendline and price has fallen. Appears to be recovering. On average stocks fall 35% when bottom trendline is broken. A RW can be a very long term pattern and is not valid unless bottom trendline is broken, A RW takes at least 3 weeks to form...but usually much longer. Price bounces up and down between 2 rising and converging trendlines. A RW can break upward but may show weakness after the break to the upside. RWs can be bearish at the top can causes an imbalance in supply and demand. Not a great pattern to trade, just a pattern to be aware of if it is in the chart..
Negative Volume (NV) and OBV are both high showing interest...short interest is low..
The handle low (HL) and Mid Cup (MC) are both sources of S (Support)
C&H patterns are calculated by the depth of the cup. Long entry level is placed a tad over the resistance of the prior high..
Trade safely
Happy holidays!
The Cooper Companies, Inc. operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia. It also provides range of products and services focusing on women, babies, and families, including medical devices, fertility, genomics, and diagnostics and contraception for hospitals and surgical centers, obstetricians' and gynecologists' (OB/GYNs) medical offices, and fertility clinics. In addition, the company develops mechanical surgical solutions for skin closure; and offers PARAGARD, a contraceptive option, as well as provides assisted reproductive technology products, genetic screening and testing, and products within the general OB/GYN offerings. It markets its products under Biofinity, clariti 1day, MyDay, Avaira Vitality, and Proclear 1 Day brand name through a network of field sales representatives, independent agents, and distributors. The Cooper Companies, Inc. was founded in 1980 and is based in San Ramon, California.
COO was trading in a rising narrowing bearish rising wedge but has broken bottom trendline and price has fallen. Appears to be recovering. On average stocks fall 35% when bottom trendline is broken. A RW can be a very long term pattern and is not valid unless bottom trendline is broken, A RW takes at least 3 weeks to form...but usually much longer. Price bounces up and down between 2 rising and converging trendlines. A RW can break upward but may show weakness after the break to the upside. RWs can be bearish at the top can causes an imbalance in supply and demand. Not a great pattern to trade, just a pattern to be aware of if it is in the chart..
Negative Volume (NV) and OBV are both high showing interest...short interest is low..
The handle low (HL) and Mid Cup (MC) are both sources of S (Support)
C&H patterns are calculated by the depth of the cup. Long entry level is placed a tad over the resistance of the prior high..
Trade safely
Happy holidays!
The Cooper Companies, Inc. operates as a medical device company worldwide. It operates through CooperVision and CooperSurgical business units. The company develops, manufactures, and markets a range of contact lenses, including spherical lenses, and toric and multifocal lenses that correct near- and farsightedness, as well as addresses various complex visual defects, such as astigmatism and presbyopia. It also provides range of products and services focusing on women, babies, and families, including medical devices, fertility, genomics, and diagnostics and contraception for hospitals and surgical centers, obstetricians' and gynecologists' (OB/GYNs) medical offices, and fertility clinics. In addition, the company develops mechanical surgical solutions for skin closure; and offers PARAGARD, a contraceptive option, as well as provides assisted reproductive technology products, genetic screening and testing, and products within the general OB/GYN offerings. It markets its products under Biofinity, clariti 1day, MyDay, Avaira Vitality, and Proclear 1 Day brand name through a network of field sales representatives, independent agents, and distributors. The Cooper Companies, Inc. was founded in 1980 and is based in San Ramon, California.
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And as always, this is just an observation and trading before earnings is risky. Do not forget we are trading with a bunch of computers as well as people ..not sure what the ratio is..(o:
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also an ABC correction pattern on the handle
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Long entry is 365.80
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I think COO beat earnings but guidance was not to expectations..down early am, then up...shall see