TradersForecast

MA pitchfork pattern analysis

Long
NYSE:MA   MASTERCARD INCORPORATED
The price will likely go up towards the point where 3 pitchfork lines intersect (see the blue arrow).

"Like it" if you like it! Add your comments, questions or concerns if you have any.

DISCLAIMER: Security trading involves substantial risk of loss. My analysis is not trading advice. Do your own research first and/or consult a financial advisor. I'm not responsible for any losses you may incur following my analysis.
Comment: There is a good chance that the price (and the market as well) will fall on Monday before resuming the upward move. Here's why I think so. I wrote an algo/strategy that gives excellent results for TECL (a leveraged 3x bull tech sector ETF). The version optimized for TECL gives 677,000% profit since 2012 in backtesting. The version optimized for SPY (and used unchanged on TECL) has about 50,000% profit (https://www.tradingview.com/chart/TECL/Q...) and this year over 90% profitable trades. Because it's so accurate it's a good gauge for the market. On Thursday at close the algo gave a bearish signal. Rather often fall follows the bearish signal one day late. For example, in forward testing the algo predicted the current fall on Sep. 1 but Sep. 2 the market went up and only on Sep. 3 the big fall happened (you can see that in the link here). Similarly, one version of the algo also gives a bearish signal on Sep. 21 and Sep. 22 the market was up and only on Sep. 23 it fell (and there is a long signal for close of Sep. 23). So the bearish signal from Thursday may very well mean that Friday the market would go up (which it did indeed; the algo also gave an intra-day bullish signal in the morning which disappeared later after the price went up) and would fall on Monday. However I expect this fall to be temporary (one day only) and I don't expect the price to fall lower than the lower pitchfork line and I expect a bullish signal from the algo at close on Monday.
I published my ToW indicator as an invite-only script. Send me a PM for an invite and you can use it for free for the rest of the year. Algo w/ 700k% profit since 2012 in backtesting! Join free https://discord.gg/wDTkRnS or https://t.me/TradersForecast

Comments

Great work, good luck
Reply
TradersForecast BakiShirzadi
Thank you, @BakiShirzadi! I hope I'm right, I have MA stock :) Good luck to you too!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out