Long when chart chills out
Has broken bottom trend line of bearish rising wedge
Long term uptrend
NV is high
Short interest is low
C&H patterns are only valid over long entry level
A Narrowing rising wedge is a technical pattern, suggesting a reversal pattern frequently seen at the top. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex. Using two trendlines – one for drawing across two or more pivot highs and one connecting two or more pivot lows. The 2 upsloping lines are in the same direction of the trend
Unlike a triangle, both trend lines slope upwards in the same direction. It represesnts too much buying without healthy pull backs, or irrational exuberance. Rising wedges are longer term patterns that flags or pennants and go on for at least 3 weeks, months or longer. A stock can break up from a RW, but the break up is often weak and short lived.
It is ok to trade stocks in a RW, as they can travel up for a very long time inside of one. Personally, I avoid them. Just keep an eye on the bottom trend line of the Rising Wedge pattern
Rising wedges can cause a shortage of buyers when the stock pulls back, because too many buyers on way up, so no one left on way down. Pull back can be deep. A strong stock will not fall as far as a weaker stock as a rule. It is an example of supply and demand. Characterized by negative touches to the bottom trend line
A falling wedge, often found in a down trend is very similar, but both trend lines slope down in the direction of the trend which is down
A FW can also signal a reversal in trend, but is often bullish.
Not a recommendation
Has broken bottom trend line of bearish rising wedge
Long term uptrend
NV is high
Short interest is low
C&H patterns are only valid over long entry level
A Narrowing rising wedge is a technical pattern, suggesting a reversal pattern frequently seen at the top. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex. Using two trendlines – one for drawing across two or more pivot highs and one connecting two or more pivot lows. The 2 upsloping lines are in the same direction of the trend
Unlike a triangle, both trend lines slope upwards in the same direction. It represesnts too much buying without healthy pull backs, or irrational exuberance. Rising wedges are longer term patterns that flags or pennants and go on for at least 3 weeks, months or longer. A stock can break up from a RW, but the break up is often weak and short lived.
It is ok to trade stocks in a RW, as they can travel up for a very long time inside of one. Personally, I avoid them. Just keep an eye on the bottom trend line of the Rising Wedge pattern
Rising wedges can cause a shortage of buyers when the stock pulls back, because too many buyers on way up, so no one left on way down. Pull back can be deep. A strong stock will not fall as far as a weaker stock as a rule. It is an example of supply and demand. Characterized by negative touches to the bottom trend line
A falling wedge, often found in a down trend is very similar, but both trend lines slope down in the direction of the trend which is down
A FW can also signal a reversal in trend, but is often bullish.
Not a recommendation