A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.
Hey guys, MIDDLEBY CORP is in a bullish push with low purchase volume made and a hammer candle shape. In TIMEFRAME M1 we see a dash with a return of traded buy volume, it goes to the top of the consolidation zone to test it. Great possibility of breaking out the price at the same time the zone then the bollinger to reach the second and finish on the next high....
Commercial equipment manufacturer Middleby (NASDAQ:MIDD) may not be the most logical investment in the middle of a pandemic that has closed restaurants around the nation -- but it's working out pretty well for investors today. Middleby shares are up a strong 16.3% at 3:40 p.m. EST after the company reported an earnings beat in the morning.
Instead of the $1.04...
Middleby Corp (MIDD - US) is in ABC pattern with C wave elongated. It completed wave 4 in complex correction. 5th wave is started moving down with relative high volume.
Over the next weeks or months I predict the price of Middleby (MIDD) could drop lower, following the confirmation of a possible double top or triple top pattern.
Target: 96
Stop: 120
Like the idea if you agree and let me know what you think in the comments.
