Bouncing off of support as well! Lets try this again :)
This broke out Friday, then appeared to be pulling back a little yesterday; but, it decided it still wanted to go this morning and is going strong. Not to mention a 50/200 moving average crossover is imminent.
This Head & Shoulders pattern seems to have a breakdown point in a very dangerous zone.
The financial sector is ready for another move up. After giving the appearance of weakening last weak, it bounced off of support and is now trending again, and ready to break out of Darvas Box with a little wind to it's rear, though it does have to contend with some earnings this weak from within it's ranks.
It just keeps getting better! If you didn't get in on the 20 ema/200 sma moving average crossover, then here is another opportunity as it closes the day breaking out of Darvas box.
THC has closed on the hourly without pulling back, and a move above the 20 ema is imminent.
Last Thursday BMY closed on what looked like a Darvas Box breakout, but it wasn't a buy Fri. because it looked like a fake-out. Today it is still breaking upward, so it's looks like a buy after not retreating from the morning high
Nice time to try again (see related ideas) as it bounces off of support.
You can enter on this pullback to the 200 ma, or you can buy when the 20 ema crosses the 200 ma, or you can wait to see if it breaks through resistance.
If this bounces off of the 20 ema, this double bottom will be a good entry for a nice little swing.
Some may call this chasing, but there is a lot of room left to climb.
Notice also the imminent golden cross, and the close at resistance. The first hourly candle closing above resistance should be a good entry for a nice little swing trade.
Add the current news events to the trend and you have yourself a buy!
The CMF still looks very bullish even beyond the breakout....nice.