On both the daily and the hourly chart, TPX has been creating a pretty nice divergence. I'm thinking this will be a position I sell by the end of the week depending on if it goes overbought and/or starts breaking daily moving averages. I don't use intraday MA's as I like to swing and, in my opinion, see daily MA's as the strongest of support/resistance.
TPX seems breaking out of a inverse H&S formation. It has broken out the neck line, retested it from upside & now resuming its upward move. We think it was good upside potential from here. * Trade Criteria * Date First Found- July 13, 2017 Pattern/Why- Inverse H&S formation Entry Target Criteria- From current label Exit Target Criteria- 1st Target $55, 2nd...
Buy TPX at $38 for short-term bounce.
Today we see an attempt to correct the current uptrend. This may result in the closure of the window even.
Tempur Perdic Inc. This stock gives us a good opportunity about both short and long. TPX is one of the top bullish stock of US Goods sector. Plan A: we buy after the price violates the top of rectangle and gives us a good candle. Plan B: we sell in the case the stock hit the top and start going lower after that. But untill this rectangle isn't resolved we need to wait
the upmove slowed down and we formed a reistance level @61.75 wehere we currently sit at its now either break or rejection of that level
Key points; 1) False break. Price shot through resistance (old highs) then reversed back underneath it. 2) ADX is too weak to suggest a strong weekly trend 3) Lower lows and lower close compared to last week 4) Weekly uptrend level has already been broken, and thus has transitioned into a sideways / range bound pattern. Thus selling high levels / buying low levels...
55 seems to be a toughie... most OI so far in Jan and Feb C