This stock's pattern is an intermediate-term trend correction to bottom formation that is near completion. It may head sideways for a bit, but when it does breakout of this consolidation, there is potential for swing style runs to develop.
A Dark Pool buy zone triggered at the bottom's lows. And there are Pro Trader footprints in each run out of a new low.
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TOP LINE SLOPING DOWN.
BOTTOM LINE SLOPING UP CREATING A VACUUM THAT WILL EVENTUALLY PUSH THIS ONE WAY OR THE OTHER.
NEUTRAL UNTIL BROKEN.
Diagonal support has held.
Harami star/bullish today.
No recommendation
Around 287-88 there is a hidden support. Since mid January this level has been tested from both sides again and again. At the end of March there was even an upside window opened. But the price came back 2 days later already. Since August it became a support finally.
Thus I am expecting a bounce back upwards to correct the decline since end August at least.
A bearish flag is complete. Price on trendline and just about 200 EMA. Breakout if stock moves up in the next couple of days. Breakdown if otherwise. Squeeze momentum indicator indicates more bullish trend than bearish.
Technology and Consumer Discretionary tend to lead the start of bull markets and Industrials should follow up.
The Industrials ETF AMEX:XLI is not outperforming the SP:SPX but, NYSE:ROK certainly is.
Maybe will be the sector's leader, is ranked #6 by IBD in its industry group ( AMEX:GAST ).
With higher lows and higher highs since June of 2022, Rockwell...
Higher lows with attempts to break through the weekly resistance. I'll be looking at it pretty hard if price comes back to under the $261 area. Target is the next weekly resistance following the trend.
If the trend is invalidated (close below the previous low on the weekly) walk away.
The PEAD projected a Bearish outlook for $ROK after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 57.14%.
ROK appears a bit stuck trying to get through prior gap down.
Possible Support not far below at bottom of gap down and handle low.
Negative Volume(volume on down days) is high. Positive volume (volume on up days which is the general public as a rule) is low. OBV (On balance volume) is perking up but is not high.
The 50, 100 and 200 moving averages are in...
Pattern recognized: Running flat Elliot Correction Wave.
Thesis: Bullish sentiment.
Conclusion:I struggled to chart this one, the patterns were distorted. I didn't take any positions.
My strategy: MEWT (MODIFIED ELLIOT WAVE THEORY).
***This does not constitute financial advice.***
Hey my friends, ROCKWELL AUTOMATION is at a very important moment in its history, we can witness a new historical high. It is in a bearish dynamic fake with a return of issued buy volume and an upside down hammer candle. In the TIMEFRAME M1 we observed a dash with a low volume of purchase executed it came to the top of the comfort zone to test it Great potential...
No rising wedges noted in yearly chart
LE=long entry. Possible Stop below C
NV is high and OBV is picking up. RSI is pointing up and is at 58.89 today. I keep RSI on 9/80 and 20
I see of a level S at 237ish and at the 50 SMA which is at 232.75ish today.
I have owned this since close to it's bottom after it caught the deadly flu (Speaking of the flu, I have...
