I have had this for a few weeks and there have been a few scary days for sure.
Support has held so far and my stop is at 102.77. Resistance overhead. Whenever a security has pulled back so far, I suppose there is always a bit of R overhead. Folks are stuck up there and in probable financial pain. It is not surprising when they will sell on rallies to relieve their wallet of the pain they are experiencing. It is hard to hang through it though and makes buying close to support important in most cases.
It appears C is C but next pull back day, or rainy market day, will tell the tale I suppose.
Not a recommendation.
Negative volume and OBV are both high.
Trading can be risky business, and I guess investing can be too. The market has been riddled with uncertainty, and it makes me feel, well, uncertain..lol. Nothing is a given that is for sure and Mr Market has not been handing us a whole lot of no brainers as of late (o:
The cup and handle pattern broke out a while back and targets were met before the deep pull back. There was also an inverse head and shoulders a while back.
Support has held so far and my stop is at 102.77. Resistance overhead. Whenever a security has pulled back so far, I suppose there is always a bit of R overhead. Folks are stuck up there and in probable financial pain. It is not surprising when they will sell on rallies to relieve their wallet of the pain they are experiencing. It is hard to hang through it though and makes buying close to support important in most cases.
It appears C is C but next pull back day, or rainy market day, will tell the tale I suppose.
Not a recommendation.
Negative volume and OBV are both high.
Trading can be risky business, and I guess investing can be too. The market has been riddled with uncertainty, and it makes me feel, well, uncertain..lol. Nothing is a given that is for sure and Mr Market has not been handing us a whole lot of no brainers as of late (o:
The cup and handle pattern broke out a while back and targets were met before the deep pull back. There was also an inverse head and shoulders a while back.
You have to find the pattern. There is an indicator on Tradeview that can assist and is called called Auto-fib which helps you get a feel for whether C is C. If it is, that indicator will line up with the 0 fib level at C. It is not always correct buy most of the time it is. You have to find the AB leg by finding the impulse wve up. A is at the bottom, and B is at the top of that wave up. BC is the pull back wave. Sometimes the BC leg can go down close to or to the A level. Then it is time to look for a double bottom. If C goes past the A level, it is not an ABC pattern and could be another harmonic pattern or just a stock trying to find a bottom.