novvoll12

SCHW – neutral – Falling wedge breakout triggers further upside

NYSE:SCHW   CHARLES SCHWAB CORP (THE)
2 0 0
SCHW             29.33 – neutral – Falling wedge breakout triggers further upside

SCHW             rallied through 2.5-month falling wedge resistance (from August 6’s 35.72 peak) to confirm a wedge breakout. In the meantime, breaking above the 28.80 range ceiling (October 16, 2015) completed a 5-week base over 26.40 (October 2, 2015 low), triggering further upside towards 30.45 (76.4% of the 31.72/26.40 fall) ahead of the 200 day moving average currently at 30.75. The 28.49 low (October 20, 2015) near the wedge breakout point should support dips. However, a push back below there would delay and risk 28.22 (October 19, 2015 low).
Outlook:
Daily: neutral (due to near-term low risk reward)
Weekly: neutral
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out