We have VMW approaching resistance to the downside on the quarterly chart at $150.18 with PT at 130.50. I have been seeing a lot of these breaking or tapping the quarterly resistance line only to turn around and go back through the consolidation area so watch out for that. I will be watching for it to go below 150.18 and hold there with maybe a slight pullback to resistance on low volume before buying. If the daily candle breaks to the downside and immediately pulls back through to the upside (as most breakouts to the up or downside have lately) I'll be taking a small long position as soon as the daily turns back green for a quick scalp targeting 152.89 as first PT. Please note I am waiting for the price to actually break through the resistance, trap the sellers, and reverse back through flipping green before I will go long. Throw your questions/comments below.
JC
JC
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Meant to say I'd be waiting "for it to go below 150.18 and hold there with maybe a slight pullback to resistance on low volume before selling." Not "buying"...
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Still watching VMW to the downside. Gapped down through the trigger today but we never sell on a gap down. Wait and see if it comes back and closes through the trigger (it did). Watching below the quarterly break of $150.18 aiming for $130.15
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Still watching on the quarterly but nothing super interesting happening right now.