Price has retraced today after a big breakout to end last week (on the 4th try). Expecting some consolidation to let the 200MA catch up, but then we should be primed for another leg higher. Initial PT @ 57.
CHD seems not a normal stock but rather a life issurance. In fact since 1981 such stock has never stoped raising up even during financial crisis. This has mainly due to its business and management and after Q2 2018 price has definitley broken the lateral phase started in Q2 2016. Price thresold was at 53.88, the daily candle closed the session at 55.89.
CHD seems breaking down from an upward channel. It crossed down the lower channel line & seems it will go down further. We are looking for a quick short opportunity here.
* Trade Criteria *
Date First Found- May 1st, 2017
Pattern/Why- Upward channel breakdown
Entry Target Criteria- Break of $49.32
Exit Target Criteria- $48.25
Stop Loss Criteria- N/A...
After a string of higher highs and higher lows in quick succession to one another the price has begun to go sideways with shallower moves upwards and deeper moves downward.
A break below recent lows would certainly confirm a very high probability of a retrace back to the 0.382 fib which also lines up with longer term price support and would result in a lower low...
$CHD looks like it's being trimmed on the up moves. See Excess Demand Supply signals. I will be trimming back and trailing up. Should not drop until the green "A" flips to a red "D". At that time (if other signals have not flipped green) Supply signals 1 thru 5 will be in alignment. Then I'll pull the trim trigger. Technical resistance above is at the $91 +/-...
5' Wolfe wave potential pattern.
Sits on key support rising Wedge 5/9/13 uptrend_line and rising 200 sma.
Oversold Bounce is possible, from current price within Wedge.
Diagonal Line(potential profit target) not crossing 4 point, but front-run a bit higher on multiple rejections,
convergence with 3 point diagonal and Channel upper bound.
From the weekly chart for the last 23 years CHD , CHD continues to make higher highs , and tend to be above MA50 weekly . Price CHD in 1991 was in the range of $ 2 per share , while the current $ 66 per share , or within 23 years of riding 33X folding .
While EBITDA CHD itself up from just 75 million USD in 2000 to the current 705...