Last weeks Watchlist Review $FMCThese go out each Friday for the following week Longby daytraderrockstar1
FMC - Double channel knife catch. Pullback - Double channel Status: Too many red flags for me to consider buying, or even put on my watchlist Horizontal S&R: 65 Channel S&R: 2 channels, neither holding very well. MA S&R: no Stochastic turn/crossover above 80%: yes. looks embedded AO pullback >0= 85: yes Price Pullback Fib >0.382: yes Next Earnings date: 10/27 Increasing EPS: missed, but in range Increasing Rev: beat Short Float: *stop 1 atr below swing low. ** first price target is 50% the move from entry price to previous high. ***No Biotech Any feedback is welcomed! Thx Cost basis: Stop: First price target:by SR6180
FMC POSSIBLE BREAKOUT FOR SHORTINGLooking at previous rising wedge breakout i've measured a retrace under 0.61 fib. The breakout occurred after 291 bars on weekly chart and happened with many gaps. Now we have a similiar pattern, time symmetry, a gap that's going to break lower trendline and volume increasing. Need to see a strong distance from lower trendline, possible gaps and more volume for confirmation. As a possible target i'm pointing to 0.61 fib area. Good luck for your tradingShortby cantestogo2