This sideways chop/channel has been keeping both the bulls and bears honest for a while now. I am leaning on the GREEN and ORANGE dotted lines (lookback periods) to maintain my bearish bias.
There are four sets of support and resistance levels that are displayed by Aspen Trading’s S/R Analysis Tool. Each one is unique to a specified period of time that we then...
Will the EverGrande Real-estate situation in China be the catalyst that pops our real estate bubble and slow down our homebuilder industry?
This was last year, when they listed their stock to the HK market and scammed retail money. Now they are out of cash again, and their bonds are worth less than 30% on the dollar.
If this thing collapse, it could be China's...
Price hasdipped through the bottom trendline of the risng wedge pattern. The bottom trendling narrows and ends at 51.93 This pattern is often bearish but is not valid unless bottom trendline is brokencausing a fairly deep pull back. A RW can be a very long term pattern. A strong stock can actually break up and out of this pattern..or fall through bottom...
$XHB Homebuilders ETF - Nearing Breakout
Level to watch is $49.22 - a close today above this level is bullish for the near term.
Target: $54-$56 by early September (assumes close today above resistance)
1. 11/15/2012 Daily demand zone confirmed
2. 60 Min Double bottom.
Buy : 25
If a Gap Up (See G1) breaks the down trend line, it will Confirm reversal in High probability.
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support....