Utility Software (U) More than just a Bench Player
Interesting Harmonic setup(s) for Utility Software (U)
One Harmonic pattern is in progress (Bearish Shark) and one that is trying for the final leg of either a Bearish Bat or a Bearish Gartley pattern.
We will watch this for the moment and see if the Bearish Shark hits the $30-32 area.
Then we will reevaluate and if U resumes its upward trajectory to the $54 for the final D leg of the Bearish Bat/Gartley Harmonic Pattern.
A solid breach of the XB trendline should be the key to the final leg on this 4 hour chart.
Stay tuned !
Not Investment advice ... do your own due diligence.
S.
Note... Lots of potential movement tomorrow (Feb. 1) with a potential Fed rate increase ... be nimble and respect overall market trends.
One Harmonic pattern is in progress (Bearish Shark) and one that is trying for the final leg of either a Bearish Bat or a Bearish Gartley pattern.
We will watch this for the moment and see if the Bearish Shark hits the $30-32 area.
Then we will reevaluate and if U resumes its upward trajectory to the $54 for the final D leg of the Bearish Bat/Gartley Harmonic Pattern.
A solid breach of the XB trendline should be the key to the final leg on this 4 hour chart.
Stay tuned !
Not Investment advice ... do your own due diligence.
S.
Note... Lots of potential movement tomorrow (Feb. 1) with a potential Fed rate increase ... be nimble and respect overall market trends.
Comment:
An updated view....
