NASDAQ:COST was over-speculated by retail groups. Extreme angles of ascent do not hold. The severity of the recent angle of ascent due to speculation warned well ahead of time that COST would have a meltdown when buyers evaporated. The first strong support level is at the black line. The Weekly chart shows stronger runs up than down. Costco is frequently...
This stock has dipped and slid through its support, which was not a strong support level. There is minimal support nearby. And the support above is now a moderate resistance level. There was some mild rotation in the Volume Oscillator and Money Flow indicator patterns followed by pro traders selling. The reversal candlestick pattern failed. However, the risk...
Pushing over top of Bolly Band. 400 pips above the 50DMA. Last time we saw this it gave up 100 pips in 2 days. But it could still go to the 0.786, another 100 pips above. After a melt-up like this the price may continue to creep higher for days, then give a retracement, printing a 'fishhook'. PA on 6/15 was astonishing. Opened and closed twice thinking; "That...
A speculative hypothesis where all the information is not yet in to determine certain channel lines. BUT this is not based on NOTHING. Topping patterns are appearing EVERYWHERE and negative divergence of 3 degrees are clearly visible (not this chart) which I will post soon. Again a speculative hypothesis that seems to be playing out.
Axis Banks seems to have topped out. The selling volumes seem to be picking up again similar to it's previous fall. The support levels are likely to be broken on another retest and the stock may be headed for 450 levels over the coming year. View stands invalidated on break of highs of 867
signs looks toppish at the moment as has been whipping up and down the 200 day moving average for the past 3 months. Could continue to range between 272 - 315 (give or take several points) for another few weeks or even months until it breaks either way. watching 272 which was the support for the past 2 months, each test at this support will bring in less and less...
NYSE:MGM has a big rounded top pattern that looks ready to break. Today's bar pierced through the trendline convincingly and I think it is ready for a big drop.
Looking at the Total US Stock Market (VTI), we can see an obvious arching formation to the Covid-crater rebound, like the decaying upward trajectory of a thrown ball. This trend is characterized by short intervals of consolidation followed by breakouts that exert less upward momentum than the prior breakout. Each of those consolidation phases knocks the rebound's...
Massive divergence and megaphone pattern in the weekly chart doesn't look promising for the next 6-12 months
The June decline appeared to be impulsive, given the 3 consecutive lower lows. But because the beginning of that decline was taken out, that leaves a flat on the table (3-3-5 structure). I suspected that from the beginning because the last wave was not a clean impulse, which meant it is likely a b-wave low. This looks to be an ED (ending diagonal), or the entire...
Just happened minutes ago, the topping pattern of a High, Low, Lower High, Lower Low, Lower High, and then a Lower Low just completed and then it gave up and did a huge Markdown. MACD has given an earlier indication of a drop, after pattern completion. THIS IS a topping pattern, and it is of high probability that the S&P500 topped out. Now waiting for it to...
Trading Range sideways patterns have slowed the ascent of CTAS as it reaches new all-time highs. The stock is at risk of a Flat Top formation.
Topping Reason: 1. Long Term Weekly Resistance Level 2. Completion AB=CD 3. Completion of Rectangle Box Pattern Breakout 4. Topping Candle Pattern - Evening Star + Engulfing Candles 5. Elliot Wave 3 retracement 6. Monetary Easing Policy Start
Microsoft has been under heavy distribution and has begun a risk of top formation. The markets opened with a downside gap this morning due to Chinese markets imploding. This is a high risk factor for a potential bear market catalyst. Any US company that has a high revenue source from China is at risk of serious downside runs during such a crisis and for as long as...
Target and Best Buy reported earnings today and their stock values fell, TGT worse than BBY. The retail brick and mortar stores are the last group to report each season. The ubiquitous AMZN has put most of this type of store at risk of total displacement as consumers prefer the ease and speed of online shopping over driving to a store. Technical patterns are...
Essent Group LTD is in the Financial Services Sector under Specialty Finance. This is a relatively new industry that is going to have growth in the next decade as more specialty finance services companies go to IPO. The opportunities come from Cloud Technology’s second phase of new displacement technologies, such as Artificial Intelligence. ESNT is working on a...
Bottom / Top Finder just gave the signal to go long a couple hours ago, and already have topped out over a 4.0 risk/return ratio! With no top signal yet, we are holding the position for proper exit. Both false signals shown could have been exited in profit but since the indicator did not signal it, we consider it a stop loss hit for those 2. (17/19 correct is...