lauralea

ABCD Double Bottom

Long
NYSE:GRUB   None
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2
GRUB may have found D but is not quite to long entry level..I plan to wait for LE level as I am trying to figure out why the shori is 11%..

I am not sure if there is good news on the horizon or not..I just looked at the chart is all so far..I now see a double bottom ..

Short interest is a bit high on this one..not sure why but I do respect their opinion..

Perhaps they are expecting a throwback..dunno..there was a bearish narrowing rising wedge but looks like GRUB has bottomed from the wedge pattern..I hesitate to press LONG..but I am..despite the shorties opinion

Do some research and have a plan..a good plan is one anyone else who trades can look at and reproduce your trade...

Not a recommendation


The 3 drive pattern can resemble abcd but has 5 legs and ABCD has 4 legs. Goal is to catch stock at it's low. It is a measured move down pattern
Comment: Possible stop below D, but 66.5 is a safer stop. I lost a stock, LULU today 5 minutes after I placed a stop and I rarely place stops! That is why I quit using stops unless I am in trouble. I know it is a good practice but hide your stop and try not to put it where everyone else puts it..MR Market will find it. Mr market often goes stop hunting right before a stock goes up I think..I had my stop at 258.5..Mr Market barely got it...but he got it all the same

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