Earnings 6-21.
This flag did not consolidate very long, or pull back as far as most flags do. A bull flag occurs in an uptrend and there needs to be a pole. There also needs to be a pull back that forms the flag. The flag pole needs to be long enough to support the weight of the flag. Tight flags that hang high often perform the best. Bull flags do not always break upward. Sometimes the flag appears half way through the price trend, but not always. Throwbacks hurt performance.
Possible stop below support line of flag. Looks like a pull back is coming as price has been moving up for quite a while without much of a break. Not overbought on daily RSI today. IS overbought on weekly and monthly RSI set at 80 verses 70. There are some brief consolidation zones on the pole that can serve as support when the pull back occurs.
No recommendations
This flag did not consolidate very long, or pull back as far as most flags do. A bull flag occurs in an uptrend and there needs to be a pole. There also needs to be a pull back that forms the flag. The flag pole needs to be long enough to support the weight of the flag. Tight flags that hang high often perform the best. Bull flags do not always break upward. Sometimes the flag appears half way through the price trend, but not always. Throwbacks hurt performance.
Possible stop below support line of flag. Looks like a pull back is coming as price has been moving up for quite a while without much of a break. Not overbought on daily RSI today. IS overbought on weekly and monthly RSI set at 80 verses 70. There are some brief consolidation zones on the pole that can serve as support when the pull back occurs.
No recommendations
Comment:
Volume should increase during pole formation, then decrease during flag formation. At break out an increase in volume is best as a rule.
Comment:
I do own this one but have owned it a long time. As a rule, it does not pull back hard, but it has had quite a run to the upside and everything changes. It would seem this flag would get a bit longer (o: