Descending triangle. TDOC may be at the bottom if the bottom does not get any deeper. If support line is broken, then maybe time to run. Price is inside what appears to be a descending triangle. This is a neutral pattern until a trendline is broken and a trend has formed in that direction. Any triangle is a neutral pattern and can break to the upside or the...
Price tried to break neckline today on large volume. The top wick made it through but the candle body is barely above the neckline. A break of the neckline with a close above the neckline and an uptrend confirms this pattern. Possible stop under right shoulder (RS) as the daily low was rejected not far above the RS today and buyers came in. no recommendation
This is quite a bit past long entry level and AZO must have beat earnings. Perhaps if you are already in this it could help, or when a pull back occurs, you wish to get in, this chart could be helpful. The target is D. The AB leg is used to calculate targets. The CD leg can be shorter than the AB leg, the same length, or longer or an extension of the AB leg. ...
Possible stop under C/248. A is the handle low. There should also be support at the handle low. I love to see green, but often if there is a bit too many green candles, a pull back is coming. No recommendation
Kind of hard to be bullish on anything after a day like today. On the positive side, a stop would be close by. INTC was in a small wedge or pennant but fell out today. This could fall further but just does not look like it will go too much lower. But who knows? I suppose the next few days will let us know. Possible tight inverse head and shoulders. No...
Price is closing in on mid cup which is 3042.20. The handle low is 2959.17 which is lower than mid cup so the this pattern is corrupted by some theories. The handle low is not supposed to go below mid cup by some definitions. It does happen sometimes though and often the cup pattern recovers. Me has seen it happen (o: Just a rainy Monday even though the sun...
Also trading in a cup and handle and has pierced handle low. Perhaps a source of support. No recommendation. Bad red candle today but tomorrow is another day (o:
Double bottom and prior inverse head and shoulders which now has 2 right shoulders )o: So call in a complicated inverse head and shoulders (o: I guess the world of charts is not perfect. Bottoms like triple bottoms, double or multiple bottoms can mark important levels of support. Candle tails/shadows, especially long tails can show support and candle wicks/tops...
Complicated H&S with several shoulders. Short entry with a break of the neckline and a down trend. The neckline provides support, so often advisable to wait for price to go below this level. This pattern does not do well in a bull market. It does well in a bear market No recommendation
Earnings are today after market close. CRM is in a rising wedge but has broken up and out of rising wedges in the past without breaking the bottom trendline. The pattern is not valid unless the bottom trendline is broken. Down the road, after the break up from the rising wedge, CRM encountered a deep pull back and did break the bottom trendline of the wedge it...
Looks like a Bull flag is waving up there. There is also a recent divergence between price and RSI that some would like to be aware of. A flag is basically a pull back and may correct the divergence. Sometimes it can take a while for a divergence to show up. This is a bearish divergence as price went up and RSI slopes down. This divergence is also apparent of...
Pocket pivot today when price hit 166.01 which is very close to the prior 2 bottoms making this a triple bottom. I am not sure this is out of the woods yet and it's sector, healthcare, would also need to come in to favor for this to move. The point of posting this was to show the gap down closing candle that AMED incurred which is a bad candle to gap down on. ...
Triangles are a neutral pattern and are not valid until a trendline is broken with a trend in that direction. The bottom trendline is support and OSTK has been hanging out there on the support line for a few weeks. This can also be looked at as a strengthening of this support level, but as mentioned, a triangle, symmetrical, descending or ascending can break...
Possible double bottom. This pattern was looking like a bullish bat, but passed the .886 fib level and hit the prior bottom. Double triple and multiple bottoms can form solid support. It shows a level where bulls make a stand and were not letting price fall any further. I am keeping an eye out to be sure 2nd bottom holds. This can be a level of strong...
Volatile and I have noted it does not Always move with the coins. Price is hanging on to the bottom trendline of a symmetrical triangle today. This is a neutral pattern and can break up or down. If it were to break to the downside. I see the .786 below the triangle which may form a bullish Gartley, there is also a bearish Gartley. The Gartley is a common...
AAPL appears to be in another rising wedge and has broken the bottom trendline so the pattern is valid. AAPL is a strong stock and I think it will find support at a level within the wedge. It is not AAPL that puts itself in these bearish wedges, it is buyers who may need to chill, but how can one know? I get out soon after seeing the dreaded rising wedge but...
Bad news event causing a gap down 2 days in a row. Eventually WYNN will hit a bottom. Yearly low is 67.70. I like this stock and I am wondering if perhaps there has been a bit of an over-reaction to the news? Once this finds a bottom, hopefully there will be some consolidation which I do not see as of yet. Rarely would price gap down to this extent then come...
I am re-posting this because I really screwed it up earlier by not erasing stuff from older posts. Patterns change and nothing goes up forever, except gas, cars, houses and groceries (o: Looks like a Bull Shark but market has been in a funk so I am in an overly cautious mode I think )o: Today was a decent day but I am not sure if it was just a relief day or...