Daily chart. Short shelf life so far on this play. Looking for this to hold channel and break current downtrend (white line). MACD still needs a it of work but its starting to curl, RSI looks great. Holding and adding to this play in this area of support. Sell signal if lower channel support fails.
$SHG PEAD projected a neutral outlook for the stock after a Negative over reaction following the earnings release placing the stock in Drift C
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I found tihs pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 63%
TARGET (EXIT) PRICE = 24.85 USD
BREAKOUT (ENTRY) PRICE = 24.60 USD
DISTANCE TO TARGET PRICE = 1.00%
EMERGED ON = Oct 09, 10:00 AM (EDT)
CONFIRMED ON = Oct 09, 10:00 AM (EDT)
WITH CONFIDENCE LEVEL = 76%
Once the price breaks out from the top pattern...
Better fundamentals than I can find in Canada with a solid moat, payout ratio and good dividend payment. SHG is getting close to it's lower monthly range. This may still drop a bit lower but I will be averaging in on my position.