A head and shoulders top is not valid until the neckline is broken with a confirmed downtrend.
It is not unusual for breaks of the neckline to occur before a clean break is made and a downtrend progresses. Price of often tests the support of the neckline.
Short interest is low at 1.06%.
Strong stock so investigate before you invest. Waiting for a clean break...
The PEAD projected a Bullish outlook for $KLAC after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66.67%.
* Exceptional earnings quarter over quarter
* Incredibly strong up trend over the long term
* High 3-month relative strength of 2.87 in the Tech sector
* Pays out dividends
* Breaking out of a base on base pattern
* First base lasted ~8 months before breaking out
* Second base formed immediately after the breakout and has been forming for the past ~9 weeks
*...
Current price is at a decent distance from 52-weeks highs and lows, according to the formula: .
The system identifies more buyers than sellers at this time.
Company was also compared to its competitors and has higher than average score.
Here's the algo trader best strategy to trade.
Earnings are 4-29 AMC (after market close)
KLAC has experienced a throwback, which brought it back below long entry level.
I have owned this before and it was a roller coaster ride for sure! Just an FYI. KLAC can move a lot in one day, in both directions.
There was a hanging man during the throwback. A hanging man is bearish and they look like a hammer,...
Another cloud twist trigger like NXPI a few days ago, it'll be good to get another data point on whether these ones tend to be too late to be worth entering or if that was just randomness taking effect
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The PEAD projected a bullish outlook for $KLAC after a positive under reaction following its earnings release placing the stock in Drift A
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KLAC fell from a rising wedge but there have been multiple RWs since the bottom for KLAC
Possible stop below C
Volatile stock for sure and I am guessing it may pull back a bit more
Gr8 company
If I ever catch this on a near a bottom or ultra strong support, I would buy it
Not a recommendation
KLAC has traveling in a rising wedge from the bottom to the top. Question is how far she will fall
In the process now. I will go long when she finishes falling which may be at original B/O level at 184 to 185ish. Sometimes they do not fall far, just beware
Could be lower so keep an eye one it.
Not a suggestion,. I plan to buy when descent from Rising wedge is complete
Klac has reached break out and topped prior high. Broke out at 184.5ish The narrowing rising wedge is a bit worrisome. The stock has been in it since the corona bottom though and has not broken the bottom of the wedge...so maybe she wont fall out, but if she does I will buy more
Short is relatively low. just an observation
Earnings 8-3
Klac has broken out and hopefully she goes a long way
I've traded this one in the past and I think of it as volatile, but a healthy company
Earnings 8-3 AMC and they rarely miss
Break out for V Bottoms is over the prior high
Be safe/
Not a recommendation
