Hello Successful Traders,
The stock (BMS) manifests a strong positive (bullish) trajectory, as previous history dictates numerous infiltration zones through Resistance Levels (Now Support). Acknowledge that there may be an imminent trend reversal within the upcoming weeks (or months). Await Confirmation Prior to Market Entry.
Resistance Level 1 - (56.00 - 57.00)...
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
SooOooOOooOOooO just going over my bad decisions today, really wasn't feeling the market today at first. Bullish close for most sectors, but started off with an iffy open - originally didn't plan on chase-trading anything seeing the lack of potential, but....... Here I am. Ticker riginally came up on bullish options scanner moving vol surges, then kept on watch...
BMS gapped up on strong volume. I am looking for a retest of the open on the gap to get triggered in.
Not sure if this get triggered in but it gives me 2:1 with a conservative stop and a conservative target
BMS coming out of an upward channel, and appears to be coming out of a previous Head & shoulder formation. It also has quite chunk of insider selling.
On the option side we would consider $50 April-17 Puts, last traded for $2
* Trade Criteria *
Date first found- March 7, 2017
Pattern/Why- Upward channel breakdown
Entry Target Criteria- Break of $48.17