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This one broke up above rising wedge on earnings . Long if sufficient pull back.
Rising wedges are usually bearish , but is often a long term pattern before stock falls out. So if you watch the market daily, you can just keep an eye on bottom trendline of rising wedge . Or you can ignore them. My trader friend says they are "too" bearish and can be bullish . We are all different. I do not like them if going long. Too many different stocks for me to trade without asking for possible trouble
I have seen a stock in a rising wedge beat the stew out of earnings and go down down.
Since the covid crash, rising wedges are everywhere. I rarely saw them before. Many stocks have already fallen out and recovered . Rising wedges are caused by a whole lot of buying without healthy pull backs. Seems to me at a certain point, there are no buyers left because everyone who was gonna buy already did. Then Boom! Down she goes. I guess it is a supply and demand thing.
Falling wedges can be bullish , especially at the bottom and can serve as a reversal signal if the stock breaks up and out of the falling wedge .
Earnings were good for this one. I like the stock. I do not recommend it, nor would I buy it today.
There was also a symmetrical triangle KKR broke out of. KKR would need to go to 31ish or lower to break the wedge pattern. But I see a very small gap that may hold at 32.3ish. A strong stock often only dips out briefly or maybe not at all I guess. Nothing is written in stone. Patterns are just patterns. Not the bible
Be safe! And this is just my opinion/everyone has one (o:
Rising wedges are usually bearish , but is often a long term pattern before stock falls out. So if you watch the market daily, you can just keep an eye on bottom trendline of rising wedge . Or you can ignore them. My trader friend says they are "too" bearish and can be bullish . We are all different. I do not like them if going long. Too many different stocks for me to trade without asking for possible trouble
I have seen a stock in a rising wedge beat the stew out of earnings and go down down.
Since the covid crash, rising wedges are everywhere. I rarely saw them before. Many stocks have already fallen out and recovered . Rising wedges are caused by a whole lot of buying without healthy pull backs. Seems to me at a certain point, there are no buyers left because everyone who was gonna buy already did. Then Boom! Down she goes. I guess it is a supply and demand thing.
Falling wedges can be bullish , especially at the bottom and can serve as a reversal signal if the stock breaks up and out of the falling wedge .
Earnings were good for this one. I like the stock. I do not recommend it, nor would I buy it today.
There was also a symmetrical triangle KKR broke out of. KKR would need to go to 31ish or lower to break the wedge pattern. But I see a very small gap that may hold at 32.3ish. A strong stock often only dips out briefly or maybe not at all I guess. Nothing is written in stone. Patterns are just patterns. Not the bible
Be safe! And this is just my opinion/everyone has one (o:
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