Notes: * Strong up trend on all time frames * Great earnings QoQ * Created a break away island on last earnings report * Held the gap as support around 105.54 * Tried to break out of the base but pulled back to its 20 day line * Offering an early entry as it's close to its 20 and 50 EMAs * When I last mentioned this stock it was breaking out of a cup and handle...
1) I believe that the bullish wedge pattern (June-August) is still valid with the price target of 88. 2) Island Pattern, which is reversal and bullish. 3) Price to book ratio: 0.32 4) Insiders are buying the stock at these levels. 1st target: 88 2nd target: 104.85 (gap)
High timeframe so this could take several months to even get back to the gap fill but very nice high RR on this if it comes to daddy. Classic bearish island top into potential H&S as per Edwards/Magee.
Go long if prices take out today's high. Stop underneath the bear trap.
I love the idea to travel in the space as a tourist, and I expect that it is not just me. So after an IPO mania, there was consolidation with higher lows in 2020 and now there is an island gap on the daily chart. If this gap won't be filled than new highs will come. I hope to see that but be that as it may with the gap I consider this as a buy and hold...
Ubisoft has been stuck in a downtrend for awhile now, an initial island can be observed and linked to the current downfall of this stock. Currently the price is trading within a downtrend, where a second island bottom is present, which may lead to a reversal at the immediate support zone. Overall the bearish momentum, outweighs the possible bullish factors.
KHC has formed left shoulder and head, time will tell if the right shoulder is formed. Possible island bottom also. Rising MACD shows promise also.
Achillion has show some nice symmetry, this is mainly a result of the formation of a diamond and island bottom. A golden cross can also be observed increasing the bullishness of this chart. A recent merger has also been announced.
SWKS has formed an Island Gap, after retesting the prior support level above the low of the bottoming formation. The recent gap creates the Island Gap formation. This kind of gap tends to not fill easily.