The following chart we can see a double top pattern forming just by seeing the upper trend forming on point A we wait till it reaches the maximum high. Then on point B there is a change on the trend as it follows a down trend. Then it hits the support line we placed before and make the statement that if the line touches again the maximum high it will changer the...
After two months of consolidation, it's time to fly.
1. The breakout volume is not very attractive. (Bearish)
2. The relative strength line is near all time high. (Bull)
On a day where most stocks closed in the red and near their lows, WAL managed to reverse and close in the upper half of its price range. It did this on the highest daily volume in a month.
This sets up a potential short term bounce. If WAL can take out today's high of 48 either tomorrow or within the next day or so, and then confirm the move by climbing above...
This chart pattern can be seen in a few different ways, all of which are bullish. I see this as a potential inverted head and shoulders, a "VCP" (volatility contraction pattern), and a cup with high handle. For now the cup w/ high handle gives an advanced entry point right at 37.56 This can be played vs the 50dma which it has held since early August.
I like...
