No gaps that are significan noted. No rising wedges noted. A high short percent is noted.
Possible target 2 88.75 then re-eval if old high is broken.
I have made a lot of money trading this stock in the past. I am not in it yet. Not a recommendation
Stop somewhere under C
To measure an abc pattern, they are easy to spot, draw the AB leg then the BC leg. Then when price breaks the BC leg trendline and an uptend is obvious..GO! Good chance you will encounter R at B. May take a few times but it will usually at least go up the length of the AB leg over the proposed B/O level. In a potential strongly trending market and expect to see 127.2% or 161.8% price extensions of the AB leg. You must know your stock and the mood of the market. You do need to know how strong your stock is to calculate it, and there is always Resistance at prior high and B. Some do not get in until B is broken. It depends on how cautious you are. Some sell at B. And this is not an exact science by no means. And the stock or commodity may hit C more than once. Just a guide
For a Cup an Handle/Know the cup depth. Also easy to spot. Know your handle low for support. Know your mid cup (subtract cup high from cup low, then divide by 2) to know if the pattern failed as a handle low should not reach no further mid cup. Plus for a volatile stock, mid cup may be your stop. For example, I used mid cup on SEDG. B/O is over prior high and cup depth is added to B/O..but all within reason. In a potential strongly trending market you may expect to see 127.2% or 161.8% price extensions of the cup depth. Look at existing resistance levels. and the trend on monthly for last 20 years. Does this stock stay in an uptrend as a rule, or does it have a history of deep pullbacks? IE..ICE has been in a strong uptrend for a long long time, BRKS has not...just an example is all. A V bottom is the same as a C&H just no handle low..but there is a V Cup pattern which is nice because you have a handle for support. Sometimes I can tell the stock will b/o or break prior high, so I buy early, but not text book trading of a cup and handle pattern and I do not recommend it. At times I buy at handle low due to support. Again not recommending that.
I think a lot of stocks are getting a pass on earnings it seems. This was a strong stock before the flu panic
This flu has done a lot of damage, not only to the economy, but also to folks who never even had this flu..like my mom )o:
Our reaction has been detrimental to a lot of people, as well as stocks. I for one do not work out like I used to. It is becoming harder and harder to stay healthy even if you do not have the dreaded flu that is going around. Then we have influenza season. There will be sickness on earth until the day I leave here and has been since the beginning of time
I am watching for now
Not a recommendation
Possible target 2 88.75 then re-eval if old high is broken.
I have made a lot of money trading this stock in the past. I am not in it yet. Not a recommendation
Stop somewhere under C
To measure an abc pattern, they are easy to spot, draw the AB leg then the BC leg. Then when price breaks the BC leg trendline and an uptend is obvious..GO! Good chance you will encounter R at B. May take a few times but it will usually at least go up the length of the AB leg over the proposed B/O level. In a potential strongly trending market and expect to see 127.2% or 161.8% price extensions of the AB leg. You must know your stock and the mood of the market. You do need to know how strong your stock is to calculate it, and there is always Resistance at prior high and B. Some do not get in until B is broken. It depends on how cautious you are. Some sell at B. And this is not an exact science by no means. And the stock or commodity may hit C more than once. Just a guide
For a Cup an Handle/Know the cup depth. Also easy to spot. Know your handle low for support. Know your mid cup (subtract cup high from cup low, then divide by 2) to know if the pattern failed as a handle low should not reach no further mid cup. Plus for a volatile stock, mid cup may be your stop. For example, I used mid cup on SEDG. B/O is over prior high and cup depth is added to B/O..but all within reason. In a potential strongly trending market you may expect to see 127.2% or 161.8% price extensions of the cup depth. Look at existing resistance levels. and the trend on monthly for last 20 years. Does this stock stay in an uptrend as a rule, or does it have a history of deep pullbacks? IE..ICE has been in a strong uptrend for a long long time, BRKS has not...just an example is all. A V bottom is the same as a C&H just no handle low..but there is a V Cup pattern which is nice because you have a handle for support. Sometimes I can tell the stock will b/o or break prior high, so I buy early, but not text book trading of a cup and handle pattern and I do not recommend it. At times I buy at handle low due to support. Again not recommending that.
I think a lot of stocks are getting a pass on earnings it seems. This was a strong stock before the flu panic
This flu has done a lot of damage, not only to the economy, but also to folks who never even had this flu..like my mom )o:
Our reaction has been detrimental to a lot of people, as well as stocks. I for one do not work out like I used to. It is becoming harder and harder to stay healthy even if you do not have the dreaded flu that is going around. Then we have influenza season. There will be sickness on earth until the day I leave here and has been since the beginning of time
I am watching for now
Not a recommendation
Comment:
Keep eyeballs on this one. Just not looking right for some reason. Be sure to have stops in place
Comment:
ABC patterns can become H&S patterns if they do not proceed with break up