NEWR is forming a very nice inverse head and shoulders pattern. I've entered into this trade at $105 leading into the breakout. Breakout to take place if it passes $107 resistance level. Based on range of shoulders, I'm aiming for profit at $113-115 price level which is also resistance at the all time high of stock. Earnings are on May 13th after market, which...
NEWR seems breaking down forming a inverse fallen angel formation. It has very big insider selling. CEO and CFO ETC. Sold Big %'s over time.
We think it has very strong downside potentioal.
* Trade Criteria *
Date First Found- April 4, 2018
Pattern/Why- Inverse fallen angel pattern
Entry Criteria- Current price ($73.70) (hit April 4, 2018)
Finally broke out of the channel its been in for about 3 months. Hope to see more new highs in the coming week.
The market in general closed all time high today. This stock might be getting push from that - in that case it will just return to the channel in the coming weeks.
The stock did not see significantly higher volume when it broke out to new high - volume...