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Vcppattern

$WEAT demonstrating strength with a DTL break and higher low $WEAT is looking really good here, showing classic VCP characteristics with volume dry up prior to a move up. Whilst not a true high tight flag (77% increase in 20d rather than 100%) the correction from the high point of the flag pole (25%) does fit this particular trade set up. Price and volume have been tightening nicely in the flag, with increased volume and price drift since mid-May. In spite of an extremely red day for the wider market, $WEAT managed to make a higher low, resulting in a downward trendline break The wider macroeconomic environment could help this trade immensely; the main wheat producers globally are China, Russia, the Ukraine, the US and the EU and each is likely to produce and/or export less for various reasons: Russia/Ukraine: Account for 30% of global wheat production, the current war is likely to dampen production and exports The EU is experiencing poor growing conditions with droughts and higher than average temperatures There's also the issue of fertilisers, which require natural gas to produce (Russia is also the world's largest producer of fertiliser) and harvesting the crop, which requires oil - both are at all time high prices with no signs of coming down soon
AMEX:WEATLong
by notprofessorgreen
Possible breakout to new All Time High from VCP characteristicSWCH shows a possible setup to new ATH (all time high) from a VCP characteristic. It is a relatively new name (IPOed in 2017) and since 2019 showing some real strength - last few days look like a consolidation at the top - no pump and dump. Key level is 31.80. To make the picture look better - i am missing a below average volume - sadly it is above average - so caution is advised. To train your eye - look back at 'cheat' VCP as we saw it back in March - and at that time we had nice volume compression. So ... you can keep it on your radar - though as always MANAGE RISK!
SLong
by MojePieniadze