Dear all, In a weak market, I look for stage 4 breakouts and continuation pattersn (based on the famous Stan Weinstein). I try to look for bear flags that fall together with downsloping 50 day sma (or at least very close, a few %s). This is the case for UPS. After a last few good months for UPS, a possible bear flag is forming that coincides with a...
Dear all, Another name that is probably setting up for stage 4 in the energy sector, this time a uranium name: $CCJ. After consolidating a stage 3 for almost a year and forming, kind of a sloping head and shoulder pattern and loss of the longer term trendline this week, it is time for a stage 4 decline. Things to consider for a stage 4: - declining 30 week Ma...
JSE:GLN may be pulling back to the R80 area of value. For holders, it'll. be good if it can find support there. Otherwise it could be the beginning of its declining phase, that will be bad for holders.
Stage 4 still in progress with no signs of strength. - Confirmed Top - 🔴Dot + Red Trend Bar (bearish) - Fake Squeeze Breakout followed with a Confirmed Reversal - Squeeze Breakout + Weakness Arrow - Below Track Line ( Hight Intensity) At this moment we saw a dead cross between EMA 55/ EMA 200 and EMA 500 acting as a Support. For now all red.
Looking at the chart of NASDAQ:TSLA , it's now trading below the 30 weekly exponential moving average. Is the stock now in a stage 4 decline? I don't have a position here and not keen on owning the stock until it bottoms and trade above the 30 wEMA again.
Rejection at VPOC, 50% Fib Retracement & 30 week MA