The handle part of the pattern is taking on the shape of 2 month rectangle pattern with $12.50 acting as boundary resistance. Chart patterns that accomplishes 3 things when they breakout are ones that have the most chance succeeding. When the breakout takes place (daily close above $12.50), SSP will: 1) Close above its cup and handle chart pattern (blue line on...
Kohl's been trading in a well defined range for the last 4 months with $18.75 area acting as support that has been tested 4 times. The stock failed to put a meaningful bounce along with a strong market today. The lack of buying interest close to these levels could indicate the stock is ready to breakdown and start heading lower again. Sell short a clear daily...
Looks ready to breakout from its 3 months ascending triangle chart pattern.
NYSE:MLM is another stock showing relative strength and could be setting a breakout to higher prices in the coming days. A clear daily close above $230 resistance that has been tested multiple times in recent weeks will set the stage for the next leg higher.
With the market selling off the last 3 weeks, NYSE:NWHM been showing relative strength trading sideways to up. The stock has formed an ascending triangle chart pattern with upper boundary around $4.85 acting as resistance. The stock spent the last 4 sessions trading just under that level. The stock is also breaking a long weekly down trendline (red line on...
The right shoulder taking on the form of 1 month rectangle consolidation pattern. A daily close above rectangle resistance upper boundary would set the stage for a rally to test head and shoulders neckline (blue line). A daily close above the neckline will confirm the 6 month head and shoulder bottom and set the stage for a run to higher grounds.
NASDAQ:BYND been working on a 4 month rounded formation that is bringing the stock back to the $164 level. Volume pattern is showing aggressive accumulation during this period increasing the probably of a breakout soon without this pattern transforming into a cup and handle pattern (pull back before a breakout takes place). A strong daily close above $164...
HCAT has been consolidating it rally from Covid19 bottom forming a 3 months continuation head and shoulder pattern. $37 price level has been acting as strong resistance and was tested multiple time in the last few weeks. A strong daily close above that level will confirm the pattern and the breakout, potentially starting the next leg higher. A good opportunity...
Up 10% today in the face of a market that's been selling off. Watch the weekly down trending line (red on the chart) if a breakout takes place. Could see some selling in that area but that's 20%+ from breakout boundary.
Another stock showing relative strength that will most likely head higher if the market firms up at these levels. $12 has acted a strong resistance and tested multiple times in the last 5 months. A clear daily close above that level will confirm the pattern and triggers a long entry breakout trade.
Impressive relative strength on a casino stock! Keep an eye out for breakout trade.
Strong daily bar close above $65 will confirm the pattern breakout. Logical price target is around previous all time highs of $75.
Textbook bounce back to kiss the head and shoulders neckline. I alerted to this formation here
$GLD $GC_F Entered Breakout Mode from its descending triangle chart pattern. I posted about this development back on september 9th here. Close below support yesterday and followed through in a big way today. Price Target added to chart. post from 09/10 here.
Left shoulder and Head are in. Right shoulder in the making? Plausible and something to be on the lookout for.
The stock attempted to close above $75 and head into ATH territories but failed to do so on multiple occasions. The stock has now formed a 5 month trading range with $61.50 acting as support that has been tested 5 times. Selling volume has been heavy in recent days and the stock has closed below 200 MA 8 out of the last 9 sessions. A clear daily close below...
Broke out from its 3 months cup and handle pattern on Monday and tested breakout zone early in the session today. I was able to grab some shares @$20.29. Pattern price target added to the chart. I will be taking profits around $24.50 though which is just below all time high (if the stock ending making a run to that level). I posted about this consolidation...
NASDAQ:FRG formed a 3 month cup and handle chart pattern testing pattern boundary @ $26.75 multiple times and broke out last Thursday. The stock pulled back on Friday with the market selloff and is now testing the breakout level. This is a breakout pullback entry setup. Chances are stock will head higher to profit target around $34 considering the market...