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.
Spotify is showing mixed signals with the formation of a diamond top which is indicative of a bearish reversal, evident on the chart. Also, formation of an island top which are a quite reliable bearish reversal chart pattern. The uncertainty in this chart may be evident to investors which choose to capitalise on this or sit out. Personally I use Spotify myself..
AKRX can be observed as detrended from its major trendline formed. However this may be recovered with the formation of an island bottom just below the trendline, potentially pushing the price back up into the buy zone. Islands are very predictable chart patterns of reversals in bullish markets (23/24) according to ‘Encyclopedia of chart patterns’.
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.
Clear island top and bottom, this island bottom represents a great entry point for long positions, possible rejection at MA level, leading to a cup and handle, islands represent a reversal point in the market. They are like a gem.
Islands form when 'prices gap up to the formation and then gap down at the same price level' this is what traders would call an island top, where the initial breakout is upward, forming the island seen, and then a drop back down to the water follows so to speak. With a 23/23 success rate in a bull market according to 'Encyclopedia of chart patterns' islands are a...
CNI has an Island Reversal pattern from a small gap down in early October to the gap up a couple of weeks later. Bullish momentum has continued with a couple of strong volume bullish days to show the transition. If the price can hold above $86.60 then the bullish momentum should continue.
ZS had a gap up due to earnings back on March 1st. The stock saw a rise in price within a bullish price channel but was creating a bearish divergence with the RSI indicator. Even with the pullback, the price remained in the bullish channel until it broke down in mid-August. Another earnings report in September led to a gap down that created an Island Reversal...
IBM recently gapped down after an earnings release. That gap down blew passed a previously existing gap from September 5th, leaving it open. Despite the earnings hit the stock did not fall below the previously existing support line dating back to June. If the stock starts finding some buyers it may be possible that the stock gaps back up creating an Island...
NYSE:WMT has been beaten around lately after a report found they were mistreating a group of 178 female workers. After a gap down, more selling off, and then a rebound just above the widely used 200-EMA, it is now seemingly gearing up for a a bullish reversal out of an island reversal chart pattern. Green line: island reversal trajectory Orange rectangle: Gap...
Moin from Hamburg as described in detail in the TC24 live trading room, the DAX is in a put situation (grey area) on a daily basis. There are many arguments for rising (e.g. interest rate cut USA) but also for falling prices - both chart technical and fundamental. The next few days will tell us more where the journey is heading. Perhaps the recently opened...
It's early days, but an island reversal could happen. I think politics will drive the price more than mergers and acquisitions.
Island Top in play almost exactly similar to January 1994 Platinum.
Chart says all. Let's get confirmation with a nice juicy red Bear Engulfing Doji. Sand P pivoted EXACTLY at 0.786 on 2812 today- fantastic! Pos: Shorted QQQ, Long TECS. Not investment advice, trade at your own risk, but it's where I placed my bets. Gaps tend to get filled, if gap up fills by gap down, we get island reversal with a graveyard... We at the end of...
I think that this might happen if we were to have a trade deal.
Chip stocks look waaay overdone, yet I don't think it's over. If you look at just 2019, this gap looks like an exhaustion gap, but if you look at the semiconductor ETF (SMH), you can see that it looks more like an island gap. Wait at least until SMH hits $106 before shorting chips. Also, chip stocks were strong last Feb/March. Not sure if SMH is worth chasing...
Per Bulkowski: Important Bull Market Results for Island Reversals Overall performance rank for up/down breakouts (1 is best): Not ranked Break even failure rate for up/down breakouts: 31%; 32% Average rise/decline: 32%; 13% Throwback/pullback rate: 54%; 55% Percentage meeting price target for up/down breakouts: 79%; 60% 32% up would get us close to 20
dji dowjones there are to many gaps in the chart and you now the rules of the gaps,one day the gap must be fill in,if we have a gap in 24570 so that could be an island reversal, this pattern can help the price to increse to upper atage and fill in oher gaps,