LYFT HAS FORMED A CONTINUATION HEAD AND SHOULDERS PATTERN AS IT LYFTS OF ITS LOWS. PATTERN IS NEAR COMPLETION. I WILL BE WAITING FOR A CLOSE ABOVE THE 200 DAY MOVING AVERAGE FOR AN ENTRY POINT.
ENTRY $51.16 AREA ABOVE 200 DAY MOVING AVERAGE
SLV IS FORMING A NICE HEAD AND SHOULDERS CONTINUATION PATTERN.
WHY I LIKE THIS CHART:
1. PRIOR TREND IS UP.
2. ABOVE 200 DAY MOVING AVERAGE
3. PRICE HAS RECENTLY SUPPORTED OFF THE 50 DAY MOVING AVERAGE.
MEASURED TARGET PRICE $18.76
EBAY - HEAD AND SHOULDERS TOP NEARING NECK LINE FAILURE.
EDWARDS AND MAGEE 3% ENTRY $33.38 - ENTRY PRICE IS SUBJECTIVE.
MEASURED TARGET - 27.80
I LIKE THAT THIS ISSUE IS BELOW THE 200MA FOR A SHORT ENTRY.
UEPS is close to competing a head and shoulders bottom. I really like this setup here as it will be pushing through the 200ma upon pattern competion.
Entry 1.5% above horizontal boundary 3.93
ENB has been forming a year long Ascending Triangle, I like how ENB has also broken the long term downtrend line here.
3% Horizontal Pattern boundary entry - $52.75
Measured Pattern price target - $65.08
ACWI Has reached my first target of 79.47 of the right shoulder rectangle of the larger Head and Shoulders pattern. ACWI is still showing great strength here and I am looking for it to continue on to reach the Head and shoulders target of $85.89.
XLI has been forming a massive head and shoulders pattern over the last year. Price is now just below my 3% breakout level of the horizontal boundary at $83.38 with a measured price target of just over $100
UCFC is showing a cup and handle formation here. I prefer to see a handle retracement of the cup at 50% for best results but non the less this is a cup and handle.
A #% entry of the horizontal boundary break for my entry would be $12.30 and a measured price target of $15.15
KHC has been crushed this year but now is showing in to the right shoulder of a Head and Shoulders Bottom.
Using the Edwards and Magee 3% entry rule I have an entry of $34.42 and a measured Target price of $41.55.
This one sits of the watchlist.