Adobe is potentially working on carving a 3 month double bottom chart pattern. The downsloping trend line break could offer an early entry to this setup. Company is reporting earning Wed after the close. Most likely wont take any positions until that's out of the way.
Stock been consolidating for about a month and potentially ready to to breakout this week. One I will be watching closely.
Potential double bottom on $CMG is forming. Pattern entry is not until a break of the green line on the chart but early entries can be taken on the break of the down sloping trend line (blue on the chart).
Get this on your watchlist. Possibly working on its handle for a breakout setup.
Another gap trade I had on and exited full position today with 18% gain. Sharing as an educational post. Please see annotations on the chart. Thank you!
On the top of my watchlist and should be on yours. Setting up nicely.
A very well defined trendline trade setup. Daily close above it could signal the end of the a multi month pullback and start of a new trend up.
This is a trade that I took last week on Bank of America after its big gap. I am still holding the full position. Sharing as an educational post. Hope it helps folks wanting to learn and advance their trading skills.
Strong stock that might be putting in a base for its next leg higher. Flirting with the high set in november. Another couple days sideways here could do the trick and send the stock to test all time highs.
A hot IPO stock that could possibly be working on forming the handle of a cup and handle pullback pattern.
Keep an eye on this. Possibly firming up here, finishing the handle & heading higher.
Breaking out of one of these cup and handle patterns today.
Exact Sciences been on my watchlist since its earning gap on 10/27 when I finally initiated a long position @ $117.50 on 11/24. Trade setup is annotated on the chart. More of an educational post around how to trade gaps. Other gaps I recently traded includes $BAC, $SNAP and $LASR (might post educational posts around how the setups played out on these).
$DAR seems to like to rest, run, rest, run. It is resting now.
From the Covid-19 low, Fedex had a massive 230% rally. It pulled back a mere 13% and is now back testing its ATHs. The bottom line, big funds are not selling yet. Which means the stock is probably ready to start sprinting higher again after its short few days resting.
Nice little cup and handle after a big rally. Breakout will send the stock to new all time highs.
Days is not over yet, but it's doing all the right things. Annotations on the chart.
Facebook is building a 3 month symmetrical triangle but setting up an early entry before the breakout. Early entry is about Wed high @280.18 which is also the neckline of an hourly inverse head and shoulder chart pattern. Pretty interesting setup that could provide a much lower risk entry vs waiting for a breakout from the bigger 3 month symmetrical triangle!