An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
There is a strong support level at 19.95. The price respected that level multiple times and it is expected it will do again. Moreover, the Gartley pattern was formed, which increases the probability of this setup.
T1 – 38.2%
T2 – 61.8%
Stock is breaking out of a channel. Great volume with a bullish gap. Retest gap, so wait for the pull back. Looking for the 200 EMA and the support/resistance level to hold it up. Also had great volume on the gap.
Strong Volume near 52 week low creating reversal momentum. 8.6% profit potential to the ABCD completion with confluence of the 50% fib retracement, 127% AB extension
Thought price did not print the projected price target, still the chance to see that achieved is very high. The Double Top pattern forms during an uptrend as the price reaches two distinct peaks at roughly the same price level. Volume reflects a weakening of the upward momentum, tending to diminish as the pattern forms, with some pickup at each high, less on the...
$CG setting up for massive short potential after a viscous gap fill attempt/C completion at .707. Remaining neutral until the short term trend line is violated and momentum indicators turn bearish.. Potential daily death cross on the horizon will aid the downslide flight to 1.41 BC projection at D.
Wave-4 played out as expected, with some nice profits. This is my projection for the next couple of weeks as wave-5 concludes this wave down. ADX is making the turn back to the selling side, while the SMI heads for the cross down. Wave-5 is confirmed by the Bullish divergence when the SMI fails to make a new low.
This is an analysis using the available data from...
