IF IT opens LOWER tomorrow this is probably worth a short.
IF IT DOESN'T open lower, then it probably isn't.
There is also a potential bullish crab, bullish bat pattern(s) setting up. I have market their completion with lines and callouts on this chart encase harmonic traders are interested to trade these harmonic patterns in the future..
Shares have completed a bullish breakout and consolidated above the resistance of the ascending triangle formation and also the 61.8 retracement level, which was a key area within the past few months.
The breakout suggest continuation of the bullish trend that started from 2009, where the minimum measured target for the triangle is around 55.00 areas..
Be one...
Possible March OTM bought call opportunity to take advantage of positive bounce in this sector. Note there is housing data out next session which is worth delaying to see market response.
Old chart - a break above 44.40 could be bullish. VERY hard to trust these builder stocks and the upper band seems to be in the way here. One to keep on the radar
We could head even lower in the near term as price completed a bearish breakout below:
1) Head and shoulders
2)50-days SMA
3)Rising trend line for the latest bullish wave
4)The downside breakout was supported by strong selling volume
I will look for a retest of 37.75 support level, followed by areas near the 200-days SMA support at 36.50.
Good luck, join me...
