Bascially i planning to go long FMC in the near future, currently deciding on how much risk i am taking and where to cut my losses. I feel its currently a bit overboughts, so i can proably enter it a bit cheaper if i wait so around 86 usd would be perfect. I think setting my stop loss at 84 usd would be a good way of going to about it.
FMC is printing a bullish candle over candle price bar, near its 50 DMA, with my momentum/trending oscillators confirming the price move. I am going long FMC on Wednesday using a limit order (GTC-BUY-LMT) @ 94.42. I will have two trailing sell stops (GTC-SELL-STP) @ 89.99 and 87.61 to protect my initial invested capital in case FMC does not move higher...
My initial entry was at 44,18$ with soft target at around 94$. Almost got there and Elliot wave 5 seems to have topped out short before also seen by the divergence on AO. Now looking for rebound targets. sold a 3rd of my position at 89, for a quick double up :)
set new buy limits @ 63$, 60$, 56$ and 51$.
The recent bullish pattern if indeed is confirmed though it requires further scrutiny and not every pattern results big win, it may be a good to add your watch-list for a possible 17% upside gain provided that market helps it. The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head)...
Pullback - Double channel
Status: Too many red flags for me to consider buying, or even put on my watchlist
Horizontal S&R: 65
Channel S&R: 2 channels, neither holding very well.
MA S&R: no
Stochastic turn/crossover above 80%: yes. looks embedded
AO pullback >0= 85: yes
Price Pullback Fib >0.382: yes
Next Earnings date: 10/27
Increasing EPS: missed, but in...
Looking at previous rising wedge breakout i've measured a retrace under 0.61 fib. The breakout occurred after 291 bars on weekly chart and happened with many gaps. Now we have a similiar pattern, time symmetry, a gap that's going to break lower trendline and volume increasing. Need to see a strong distance from lower trendline, possible gaps and more volume for...
