Trading Methodology:
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...
SCHW broke negatively from a symmetric triangle to finish the 5th wave of the A wave. I am targeting the $35 region because it is confluent between a major resistance zone , the .5 fibonacci retracment level, the 1-1 extension from the 3 eave, and the-.236 retracment from the 3 wave. Target is the entire B wave.
Charles Schwab has gained considerable market share by challenging industry pricing standards. The launch of innovative products and services is expected to continue growth as cost conscious investors become more and more aware of their investment profits disappearing in fees. We are bias on the long side on SCHW despite the considerable fall in price from last...
Charles Schwab (SCHW)
Entering Mark Down Phase
Distribution Phase Observations:
-Upthrust (Failure to mark Up)
- Uptrend Line Broken
- Sign of Weakness (Fall Thru Ice)
- RS Negative
- FFI Negative
1st Target: US$42.96
Comments:
Trading risk will be reduced, if entry when price makes an LPSY to retest previous Ice (support-turn-resistance zone)
Risk:
A break...
Charles Schwab is Long. P/E is at 25.21. Currently at major support and turning up. ADX is low and turning up. DI Plus indicators (Plus and Minus) are crossing. DIMinus is going down and and DIPlus is headed up. Good buy.
So, this isn't the most respectable / reliable type of long chart setup, but in a market where everyone's selling - definitely, a good mid-longer term type of play without as much volatility for directional movement. The weakness in trend is easy to spot, so not only was it difficult to kind of gauge the realistic probability of what I expect the outcome to be...
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services and other corporate brokerage services. The Advisor Services segment provides custodial, trading, and support services as well as retirement business services. The Company offers a range of products to address individuals' varying investment and financial needs. Its product offerings include brokerage, mutual funds, ETFs, advice solutions, banking and trust. Brokerage provides a range of brokerage accounts with cash management capabilities. Mutual funds offer third-party mutual funds through the Mutual Fund Marketplace.
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SCHW
