IBM recently gapped down after an earnings release. That gap down blew passed a previously existing gap from September 5th, leaving it open. Despite the earnings hit the stock did not fall below the previously existing support line dating back to June. If the stock starts finding some buyers it may be possible that the stock gaps back up creating an Island...
NYSE:WMT has been beaten around lately after a report found they were mistreating a group of 178 female workers. After a gap down, more selling off, and then a rebound just above the widely used 200-EMA, it is now seemingly gearing up for a a bullish reversal out of an island reversal chart pattern. Green line: island reversal trajectory Orange rectangle: Gap...
Moin from Hamburg as described in detail in the TC24 live trading room, the DAX is in a put situation (grey area) on a daily basis. There are many arguments for rising (e.g. interest rate cut USA) but also for falling prices - both chart technical and fundamental. The next few days will tell us more where the journey is heading. Perhaps the recently opened...
It's early days, but an island reversal could happen. I think politics will drive the price more than mergers and acquisitions.
Island Top in play almost exactly similar to January 1994 Platinum.
Chart says all. Let's get confirmation with a nice juicy red Bear Engulfing Doji. Sand P pivoted EXACTLY at 0.786 on 2812 today- fantastic! Pos: Shorted QQQ, Long TECS. Not investment advice, trade at your own risk, but it's where I placed my bets. Gaps tend to get filled, if gap up fills by gap down, we get island reversal with a graveyard... We at the end of...
I think that this might happen if we were to have a trade deal.
Chip stocks look waaay overdone, yet I don't think it's over. If you look at just 2019, this gap looks like an exhaustion gap, but if you look at the semiconductor ETF (SMH), you can see that it looks more like an island gap. Wait at least until SMH hits $106 before shorting chips. Also, chip stocks were strong last Feb/March. Not sure if SMH is worth chasing...
Per Bulkowski: Important Bull Market Results for Island Reversals Overall performance rank for up/down breakouts (1 is best): Not ranked Break even failure rate for up/down breakouts: 31%; 32% Average rise/decline: 32%; 13% Throwback/pullback rate: 54%; 55% Percentage meeting price target for up/down breakouts: 79%; 60% 32% up would get us close to 20
dji dowjones there are to many gaps in the chart and you now the rules of the gaps,one day the gap must be fill in,if we have a gap in 24570 so that could be an island reversal, this pattern can help the price to increse to upper atage and fill in oher gaps,
Centrica: Will this be a H&S reversal? H&S island formed at CNA. Will there be some substantive news in the future that causes CNA to gap up as well to complete the Island reversal?
Well, as I was reading about gaps in "Technical Analysis of Financial Markets" by John J Murphy last night, I was particularly interested in the section describing the island reversal pattern as that happened to be the section I was reading (and I have wanted to learn more about gaps implications for a while). As I also observed the futures market last night and...
The chart already completed an island reversal chart pattern on April 17th when the breakaway gap occur. The retracement after the gap is expected and yesterday candle (April 26th) shows a confirmation that it is getting bullish again. Expect some minor retracement before it continue to go higher with the first price target of 0.64 by using X-X method.
Given the recent price action of AAPL, GOOG, FB and company, this should come as no surprise, but if anybody needs more convincing of the bear case, here you go.
The same pattern appeared with the CAC40 a few months ago, and just a few days ago with the Dow Jones. Let's see if this would be a magical huge short opportunity or not ...
High conviction buy on text-book bullish island reversal with significant trading volume increase and bounce off lower band of upward parallel price channel, also with significant volume. The pattern emerge as the company announced the sale of one of its assets (the Portonave port for 1,3B BRL), significantly deleveraging the balance sheet as part of an asset...
CHUY moving strong with great earnings and gapped well. High today and this is an island reversal...this could cause a nice run, I bought Oct 35 calls and look for a decent move over the next few days....buying time but the options were 2.08 so BE is 37.08 at Oct x date....I have not eaten here yet but sounds like people like it as earnings go higher with revisions