Decisive close below the Head and Shoulder neckline support of around $14 to $13.80 will confirm the completion of the chart pattern and set the stock for a decline to test Covid19 lows.
NASDAQ:CALM is forming a 4 months ascending triangle. Multiple tests of resistance line have taken place. A breakout from this consolidation will lift the price off the 200 moving average and set the tune for the next leg up. There is a considerable resistance around $51 and if cleared, price should reach chart pattern price target identified on the chart.
2 months long #CupandHandle chart pattern on NASDAQ:SPTN . Daily close above pattern resistance will set the stage to a breakout rally up to pattern price target indicated on the chart.
While the symmetrical triangle is forming on the daily there is a reason why i would not trade this setup. Symmetrical triangle is about 1.5 months long (the consolidation period). I normally like at least 2 to 2 and half months long consolidation patters. My absolute favorites are ones that have consolidation patterns for 3 to 5 months.
Bought some FTS on Friday. Interesting setup inside the rectangle pattern. price tested upper boudrey resistance and pull back into 4 support areas conversing. 20 EMA, 200 EMA and small daily gap on July 15th AND short term breakout pullback! Worth a shot. I normally wait for the breakout but this one is interesting to watch how it will play out.
here we go. Chart pattern price target reached. One hell of a breakout. Keep it Simple!
That neckline of the developing head and shoulder price pattern is an important line for the bulls to defend tomorrow.
I posted about this pattern forming few days back and we seem to have gotten the breakout today from the #cupandhandle #chartpattern. If the market doesn't pull back hard from here (what? ), this one is heading higher and towards the #chartpattern price target. post from few days ago.
Just posted about AMD pullback to broken resistance (link below) and i bought some @59.36 today. Lo and behold, the stock was trading north of $63 after hours. Sold it for $63.20. Rectangle pattern price target is well above that but couldn't resist quick profits especially with earnings just around the corner next week. i'll re-assess in coming days (probably...
So everyone loved AMD yesterday but not so much today? So far, this is nothing but a pullback to a broken resistance. Keep it simple!
Here is another #rectangle #pricepattern that reached its price target.
Well, that was quick! AMEX:PPLT reached its #rectangle price target 1 day after the breakout. i pointed out this breakout yesterday.
Broke out today on good volume. Minimum price pattern target identified on the chart. Platinum formed 2 months classical #rectangle chart pattern with a breakaway gap in today's session. Expecting higher prices heading towards #rectangle price target.
Gold futures just tagged its rectangle breakout price target. A decisive break through that level will take gold towards testing its all time high which is just few dollars above! Keep it Simple!
CCJ #rectangle #chartpattern i posted few days ago broke out and reached its pattern price target yesterday. Text book chart pattern trading. Keep it simple.
You can still find some decent short setups in this crazy bull market. BEAT is forming a possible #headandShoulder top after its Covid19 recovery rally. I say "possible" as BEAT need to close below $40 on daily basis to confirm the top reversal. If the market pulls back (what?), this stock will most likely completes its classical #chartpattern and sets up a...
FTDR been moving sideways for about 2 months forming a well defined #rectangle #chartpattern. The breakout from the rectangle will coincide with a down trend-line on the weekly scale adding to the importance of the daily breakout. On my watch list for a long entry.
Plenty of good looking setups out there you just need to find them. Well defined 2 and a half months consolidation in the form of a rectangle #chartpattern. The stock will be trading at all time highs (ATH) if it breaks out to the upside. #ClassicalCharting, #KeepItSimple