Volume is building, and a bullish engulfing candle was formed, which pushed through resistance. The next test will be the .382 fib area @ 65.18 which has been choppy. See noted on the chart.
I am looking to purchase calls, this stocks PE ratio is below the sectors average.
After I published the formed wedge pattern of the ALB 2-3 weeks ago. ( )
Now the price seems to be going as forecasted and an opportunity for a short term long position has arised again.
The price has entered a consolidation period in the past week and it has formed a symmerical triangle (shaded in red).
By Bulkowski's conditions I have outlined the short term...
A very perfect falling wedge has formed over the passed few weeks and three days ago, the price closed for the first time outside the upper boundary of the falling wedge, indicating a continuation in the upward direction . Today was the first time we saw a full price range that was with a determined direction outside the trendlines, so it is a good place to get...
