AJG, a high quality stock, currently shows sound evidences for a buy.
- Double bottom formed and bounced at 61.8% fib level
- Uptrend line (blue) intact
- Stoch crossed up
"marketcap ($bil)": 12.31,
"name": "arthur j. gallagher & co.",
"industry": "specialty insurers",
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
Price is likely to oscillate within the parallel channel.
Market is currently closed. No market activity presented so far. We ll try to find an entry price between 65.70 - 66.04 just after the opening bell.
Furthermore, a complimentary "If Done"...
nice simple setup
after breacking resistence at 45.5-46 price retested sucssesfully the area with a hammer candelstick in the weekly chart.
also price corrected 50% of last leg up
looking for a turnaround to new high
1st target at 48$
stop below 45$
Although this pattern is reliable, there is a bullish doji star formed Friday's price action. If price opens above Friday's close and closes above Friday's high this downside breakout is nullified otherwise, the security is a good short candidate with price target $31.50 or 9% downside move. Confirmation is needed Monday!