I believe $JD is good for a bounce here with a target up to near the 50 week MA(blue). As you can see in the chart, JD has had a head & shoulders neckline break very similar to one in the past. In both instances the 7, 8, and 9 candles are trending upward. Presently, this week's candle is right on the 200 week MA (yellow). Using TD_sequential, we should see a 1-4 candle correction.
I think we see this correction begin next week. As of today it looks as if a diamond bottom is forming on the daily. Also, today had a bullish cross of the macd on the daily.
I am long 31.98 average.
I think we see this correction begin next week. As of today it looks as if a diamond bottom is forming on the daily. Also, today had a bullish cross of the macd on the daily.
I am long 31.98 average.
Comment:
added percentage drops from the neckline break to the lows. nearly identical.
Comment:
The week closed right on that weekly trendline at 31.30 thanks to some $200billion in proposed tariffs. A new yearly low was hit at 30.52. I Added about 7% to my position below 31 to bring me average to about 31.84. Nothing has changed with my price target of near the 50 week MA (blue).
Comment:
I have averaged down to $30.80. Weekly rsi shows oversold and lowest point it has ever been. We have made basically the same percentage retracement as the last H&S. I will continue to be patient. The arrest for suspicion of rape messed with this plan.
I dont see this dropping below $25. Best of luck to all.
I have averaged down to $30.80. Weekly rsi shows oversold and lowest point it has ever been. We have made basically the same percentage retracement as the last H&S. I will continue to be patient. The arrest for suspicion of rape messed with this plan.
I dont see this dropping below $25. Best of luck to all.