You decide your trade!! good luck!!
Hi Fellow Risk Takers, Here is a Reversal Breakout idea on CISCO (CSCO). (1) During 2008 crisis period, price of Cisco has plunged from around $33 to as low as $13.50 (-56%), which signals an obvious bearish trend. (2) Between March 2009 to August 2011, price has consolidated sideways in a large range ($27.50 – $13.50). We also note the formation of 2...
2 times 1.27 Fibo Ext + 88.6 Fibo retracement + ABCD on weekly + Big support + oversold (Divergence on weekly!) we should at least see a sideways movement for a few weeks, cause this is a pretty strong zone. after channeling we might see a bigger retracement to 400ish or maybe break down and continue trend, but i got into my longs about 162ish
EW has been on my watchlist for sometime. It was a great trending stock throughout 2014 but became of real interest when it it gapped up above the 2012 pivot high in October last year. Since October it has continued to trend up well, with several bullish flags but, over the Christmas period, has gone into a mini-range. This mini-range could well be a double...
If we were to reverse here, this is how I see it playing out. We've already broken the neckline of the most recent double bottom, so we may be experiencing a small retrace, followed by the price shooting up. This pattern was well-documented at the low of $255 and seems to be following it a la textbook. In the last double bottom, the price retraced to the...
The chart looks great on the daily as well. Look for today's volume and closing price for extra-confirmation of trend reversal.
In the Weekly Markets Analysis, I've mentioned 1.19 as the lowest level the $EURUSD can reach for me to consider the option that we are dealing with a false break to the 1.2 support zone. After two hourly attempts to break the 1.19 level, the $EURUSD still holds above it. A climb back above 1.2 - 1.21 can be the confirmation sign for a false break. Monitor it as...
Since breaking above the June pivot high, at the end of October, LNT has continued it's bull run. The June high was tested in November first with a double bottom chart pattern followed, in December, by a deep flag. However, both of these were within acceptable parameters for a linear trend so a longer-term buy position could be considered. Despite this I would...
CTAS has been in good uptrend for some time but had a fair bit of resistance to tackle before being considered for a long-term buy candidate. At the end of 2013 price finally broke through the 2002 pivot high ($56.62) and the weekly chart shows the subsequent retest (as a double bottom) converting previous resistance into support. Since the confirmation of this...
CNC gapped up on Friday, despite the overall bearish move on the US Indices. This was a quite significant move as there are a number of reasons to support a continuation of the uptrend - in the near-term at least. Firstly, price gapped up above 3rd December high of $101.83 and the $100 figure. Second, this also confirmed a bull flag formation or, if you prefer,...
PA marked the fork, reached the 78.6 - 141.4 confluence zone making a Double bottom. This support is very vulnerable and possible touch of TL is very likely. If PA reverses up, daily close above 1.0857 will confirm the Double bottom.
SBAC has been on a strong bull run since the beginning of 2012 and began to be of interest when it broke above $60 later that year. However, trading it from the daily would have required quite wide stops to accommodate the frequent, fairly prolonged and deep pullbacks. The set-up in the last few days looks promising but I would want to wait and see a more linear...
For just over a year XRAY has been trying to break through the 2007 resistance of $47.84. During this time a double bottom chart pattern formed on the weekly chart - which can be a strong indication of a continuation of the previous up trend. Since breaking through the $50 resistance zone in early November, price has retraced to test this line (with resistance...
GMCR broke through the 2011 high earlier this year, retested it in August and has since been in a reasonably linear trend. Since breaking through the more recent July high, price formed a double bottom on the resistance-turned-support line and is now in an established bull trend. This is not an opportunity for today, however, as earnings are due to be released...
LM reached a high of $140 in 2006 before plummeting to almost $10. Since then we have seen price bottom out (forming a cup and handle on the weekly chart) and begin a bullish wave up. During August and October a double bottom formation occurred - confirmed in November with a break of the neckline. The weekly double bottom presented itself on the daily chart as a...
Potential reversal in place with double bottom. Waiting for abreakout above aqua line - highest high in pattern. Could continue into new channel formation? Target profit limited to ~$7 (~15%) due to overhead resistance but could potentially breakthrough with A grade earnings.
There was a double bottom right at the key support zone. If market pulls back from the recent bullish momentum to 61.8% retracement level, we will have a 2618 setup to go long. At the moment, I'm shorting this pair (see idea in link below). Lets wait and see if market will play as per these ideas.
Looking for a continuation to the upside in the direction of the main trend (retraced 50% circa). Buyed at market on the first green candle close after the double bottom.