marketfellow

2020 Actual Trade: Ascending Base Breakout (DOW)

NYSE:DOW   DOW INC
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  • Notice material sector ( XLB ) is among the leading sectors since March market bottom. Material kept rising from March to September non-stop
    DOW is one of the leader among mega material stocks from March to June
    Consolidation consists ascending base (higher-low) and resistance was set at 46
    By the end of ascending base, DOW crossed over 46 which triggered buying opportunity with sell-stop about 44-45
    DOW did not finish it rally straight up but made a pullback in October. However, 44-45 offered a support and strong rebound
    Then, it was a strong rally with a gap-up to its finish line +17% profits within 3 months

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