We go long on the balance extreme completing and HS bottom pattern. These patterns tend to have a very high success ratio.
Given that we are entering November which is a beginning of a seasonally strong period until May and the Republican party gaining more influence which often spells more deregulation and other positive effects on banks there could be a potential for some uplift.
The stock is held by Warren Buffet but at much lower prices however his portfolio managers did add some at higher levels as well.
The pattern is one of the better performing chart patterns so I use quite heave size on this one. Earnings were positive and this is an earnings winner.
I expect it to start performing again some time next week.
It could have more potential than the target charted if we gain momentum but I would use that point as my first target.
Given that we are entering November which is a beginning of a seasonally strong period until May and the Republican party gaining more influence which often spells more deregulation and other positive effects on banks there could be a potential for some uplift.
The stock is held by Warren Buffet but at much lower prices however his portfolio managers did add some at higher levels as well.
The pattern is one of the better performing chart patterns so I use quite heave size on this one. Earnings were positive and this is an earnings winner.
I expect it to start performing again some time next week.
It could have more potential than the target charted if we gain momentum but I would use that point as my first target.