I thought I had this idea before but somehow it didn't post. Trade void should price close below 67. Today already gave a few entry opportunities. There may or may not be more tomorrow.
Despite the sell off in broad market, EIX seems to be having a very nice day. Rejection of PPO crossover and weekly energy release should send this baby much higher.
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement close to 61.82% of Fibonacci retracement
NOTE: ENTRY RANGE AREA ABOVE THE ENTRY POINT, IS CALCULATED UPON 80% OF THE RECORDED PULLBACK BACK TESTED PAST PERFORMANCES
DETAILS ON THE CHART
DISCLAIMER: THIS IS A TECHNICAL ANALYSIS STUDY, NOT...
*What direction to buy this EIX stock or weekly option next week? Look at big picture or EIX weekly chart, last 8 years has been in a bullish trend, with noted Elliot Impulse Wave (12345) noted on chart. This chart, PA has been sitting at $80.00 (resistance) for last 6 weeks. RSI has been overbought & just turned down. On EIX monthly chart, major support is around...
Edison has drawn a double bottom, the pullback occurred last week. The probability of an uptrend to 74$ is measured as 92%. The signal is very strength an supported by RSI an William%R.
Edison International fired a long on Friday, which I bought. I suggest going long at the market with 1% max risk for a target of 76.54 and a stop at 70.81.
Check out some additional running setups in the related ideas below from Ivan Labrie and I.
This bullish continuation diamond has a measured target price $70 with a stop loss at recent swing low at and around $57.51. For real-time alerts go www.2waytrading.com
