Cup and Handles Ascending TriangleTER is traveling in a channel that may be slightly narrowing but only slightly. During last pull back to 73.9ish it still rode the bottom trendline of this channel. I hesitate to call it a rising wedge at this point, just something I am watching.
Short interest is higher than I thought it would be so I analyzed this chart to see why. (Short interest is the percentage of share float that has been sold short but has not yet been covered or closed out. Short interest is an indicator of market sentiment. Extremely high short interest shows investors are very pessimistic.) Short interest is only 4.79% but a little higher than I thought it may be
Rising wedges can be bearish but are only valid if bottom trendline is broken. This trendline has not been broken.
There is an old high from 1999 of 115.44 that some do not find significant because it was so long ago. I think the market has a way of remembering stuff from 1999 so I am thinking there may be R there (Resistance)
TER broke up from an ascending triangle at 94ish. This upper trendline can provide support (S) later on. Both handle lows can also provide support
50 SMA is pointing up and looks as if it will cross up through the 100 sma
Realizing T2 (targets 2) are long term targets, pick an entry point that works for you if you like this stock. Pull backs always happen so I try to buy red and sell green. Support looks strong at 91to92ish and at 97ish. There are many levels of S in any chart. I look at charts like an x-ray of supply and demand.
I am watching for a pull back
Being right is a good thing, but the action you take when you are right is what counts (o: