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Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
Uptrend
It was a very technical pullback to broken level and there is a good bullish candle as a trigger above the price level. set a sure SL for it and enter.
Uptrend
It is a typical pullback to a broken level and followed by a good bullish candle on weakly time. It's triggered for buying by setting SL at about 4600 and next targets are 5550 and 6500.
AHT (UKX) - It is in uptrend and impulse up. The 3rd wave of internal cycle seems finished (if not extend further), so expecting correction down as 4th wave before it resume the up trend as 5th wave. 4th wave would expected to be end near 3600 zone.
Give thumbs up if you really like the trade idea/analysis.
The Ashtead Group share price recently gapped up, and I expect based on previous gap fills for this gap to get filled in the next few days, giving investors the opportunity to short sell the stock for profit.
While I am expecting wave Y to develop with a swing low from the current point, an alternative way to see it is that it already happened with the low observed on July 31st and we are seeing now the first impulsive wave up (this would be confirmed if the price breaks the channel that contains the whole corrective structure. We'll see.
Reverse Head and Shoulders pattern formed showing two necklines one horizontal - neckline 1 - and one diagonal -neckline 2 - giving two different levels for closing long positions first at 2580 and second at 2640
Last post: May 22nd. See chart .
Review: Price was looking strong and bullish.
Update: Price pulled back slightly but looking strong once again.
Conclusion: We can look for opportunities if price breaks through the previous high.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Last post: May 2nd. See chart .
Review: Price continued to look bullish after breaking through the resistance level
Update: Price continues the uptrend and is still looking strong
Conclusion: We can look for opportunities when price breaks a previous high
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!...
Review: Price was using the 50 simple moving average as support.
Update: Price continued to make new highs
Conclusion: The overall trend is bullish and we will be looking for entry opportunities on breakouts.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Ashtead could be a perfect stock to play the broader market weakness since it has a bearish RSI/MACD divergence on 4-hour chart. The weekly MACD also shows a loss of momentum.
A major support is seen only at 1365. On the higher side, a daily close above the recent high of 1456 would open doors for continuation of the rally
AHT has outperformed the benchmark index and the support services sector over the past 3 months. The shares rank in the top 5 of our quantitative model. We therefore expect new highs from here. Stop @ 1302p, target @ 1542p
Ashtead Group PLC – Poised for Bullish break from flag pattern on weekly chart. This goes well with the fact that it derives a majority of its revenue (84%) from North America.
Nice rebound from rising trend line followed by bullish break from flag pattern could yield re-test of 2015 high of 1231.
Caution – Volumes have dropped
