The ascending broadening wedge pattern hit the target to the downside so correction may be complete. There is also a harmonic pattern that hit the 1.272 and that would be D if, in fact, I placed X at the correct level. I see confluence at this level because it hit bottom at the target I set for the broadening wedge pattern. But placing X for a harmonic pattern can be very subjective, so you may see X elsewhere which changes the fib levels.
I bought BOOM earlier this year and traded the cup and handle pattern. I have kept an eye on it since I sold it. Very glad I sold it when I did as that would be a long fall down.
I noticed most folks are very bearish on BOOM. Sometimes I like to buy when lots are bearish, but not always. You know how you can follow a security but you have no idea why? LOL
Boom tends to move with oil and gas.
Broadening patterns belongs to the family of wedge patterns and can break up or down like a triangle can. It is not necessarily bearish like a rising wedge often is, in this case it broke to the downside in the end but did briefly break to the upside. The direction of the breakout is random. Very often these patterns have partial rises and partial declines that are followed by a breakout. When price rises from the lower trendline and fails to make the upper trendline it is likely to breakout lower. When price falls from the upper trendline and fails to make the lower trendline then the breakout is likely to be upwards.
The breakout occurs when price closes on the outside of the pattern, above the upper trendline or below the lower trendline. Trade in the direction of the breakout.
The target is the highest high in the pattern minus the lowest low in the pattern.
No recommendation. Of course, the moving averages look awful )o:
DMC Global Inc. provides a suite of technical products for the energy, industrial, and infrastructure markets worldwide. The company operates in two segments, NobelClad and DynaEnergetics. Its NobelClad segment produces and sells explosion-welded clad metal plates for use in the construction of heavy, corrosion resistant pressure vessels, and heat exchangers for oil and gas, chemical and petrochemical, alternative energy, hydrometallurgy, aluminum production, shipbuilding, power generation, and industrial refrigeration industries. The company sells its products through direct sales personnel, program managers, and independent sales representatives. Its DynaEnergetics segment designs, manufactures, markets, and sells perforating systems, including initiation systems, shaped charges, detonating cords, gun hardware, and control panels; and associated hardware for the oil and gas industry. It sells its products through direct selling, distributors, and independent sales representatives. The company was formerly known as Dynamic Materials Corporation and changed its name to DMC Global Inc. in November 2016. DMC Global Inc. was founded in 1965 and is headquartered in Broomfield, Colorado.
I bought BOOM earlier this year and traded the cup and handle pattern. I have kept an eye on it since I sold it. Very glad I sold it when I did as that would be a long fall down.
I noticed most folks are very bearish on BOOM. Sometimes I like to buy when lots are bearish, but not always. You know how you can follow a security but you have no idea why? LOL
Boom tends to move with oil and gas.
Broadening patterns belongs to the family of wedge patterns and can break up or down like a triangle can. It is not necessarily bearish like a rising wedge often is, in this case it broke to the downside in the end but did briefly break to the upside. The direction of the breakout is random. Very often these patterns have partial rises and partial declines that are followed by a breakout. When price rises from the lower trendline and fails to make the upper trendline it is likely to breakout lower. When price falls from the upper trendline and fails to make the lower trendline then the breakout is likely to be upwards.
The breakout occurs when price closes on the outside of the pattern, above the upper trendline or below the lower trendline. Trade in the direction of the breakout.
The target is the highest high in the pattern minus the lowest low in the pattern.
No recommendation. Of course, the moving averages look awful )o:
DMC Global Inc. provides a suite of technical products for the energy, industrial, and infrastructure markets worldwide. The company operates in two segments, NobelClad and DynaEnergetics. Its NobelClad segment produces and sells explosion-welded clad metal plates for use in the construction of heavy, corrosion resistant pressure vessels, and heat exchangers for oil and gas, chemical and petrochemical, alternative energy, hydrometallurgy, aluminum production, shipbuilding, power generation, and industrial refrigeration industries. The company sells its products through direct sales personnel, program managers, and independent sales representatives. Its DynaEnergetics segment designs, manufactures, markets, and sells perforating systems, including initiation systems, shaped charges, detonating cords, gun hardware, and control panels; and associated hardware for the oil and gas industry. It sells its products through direct selling, distributors, and independent sales representatives. The company was formerly known as Dynamic Materials Corporation and changed its name to DMC Global Inc. in November 2016. DMC Global Inc. was founded in 1965 and is headquartered in Broomfield, Colorado.