Falling wedges can be bullish if a stock breaks up and out of the wedge.
I think SO had an earnings miss as well
Rising wedges are almost always bearish and are caused by irrational exuberance..too much buying without healthy pull backs. This all catches up with the stock eventually when no buyers are left...ie WDAY fell out of a rising wedge recently. Many more...
Falling wedges are often bullish at the bottom and can indicate a reversal in the trend if price breaks up and out of the wedge pattern
Opposite of rising wedges which are usually bearish and are found at the top
Price has not broken the falling wedge upper trendline yet.
Not a recommendation
Price Target $60
EPS this Y +109%
Gross Margin +89.2%
Profit Margin +15.8%
52W High -23%
Short Float 1.1%
P/E 17.91
Div 4.69%
Lets see if it can maintain being over the 20dma, and if it can breakout of this wedge.
Just my opinion, not financial advice.. please do your own research!
I see a largely undervalued utility forming an ascending triangle. There is strong support ~53.50. Personally I am hopeful this value play, with a safe dividend yield will get some gov money from the 2nd round of stimulus. A catalyst around Vogtle or stimulus deal could help this punch on...
The market is kinda crazy at this moment, so I'm trying to buy some of the defensive stocks that I think will hold very well in the next few years. I will start buying @ $50-55.
