Really no TA or opinion basis for this, just kind of amazed I've seen so many charts just this past week that look 84% similar in so many ways. ($FDS, $BIDU, $WLK, $CA, - just off top of my head now). For those who have no idea what the "Bubble analysis" project is - it's a LPPL (Log-periodic power law based model) conducted by idek what to call them -...
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
03JUN16 - Stock looks quite bullish approaching the top of the trend channel. Look for continued momentum into next week and possible breakout out from the trend / resistance line at $33 or pullback to retest channel lows at $25. The stock is quite volatile, look to wait after the pullback and close below the resistance level for entry to minimize...
Looks like a nice possible area to short for a nice move downward.
NOTE: Trading below 30.39 next week is essential for this down move to have true substance, and make it worth committing our funds to.
SL at 188,6% Fibo of XA legs
TP1 at 38,2% Fibo of Crabs CD leg confirmed by previous structures
TP2 Area at around 61,8% Fibo confirmed by previous structures
If the Hidden Divergence is complete we may see a continuation of this downtrend
Right now the Bat Pattern is still valid
It's early, markets change, but this is on my watchlist ;)