All the online education stocks have been gaining consistently during an economic crisis.
Does anybody know why?
As a price action trader I only look at the price. The news will come later.
Chart patterns have their fare share of failed setups. No "edge" is perfect. Identifying the trade is the easier part. Trade and Risk management is where the heavy lifting is. I alerted to this setup when it was forming here
NYSE:UTI has been moving sideways for 3 months forming a well defined rectangle chart pattern. The stock has tested the $7.75 price level 5 times in the last few weeks. A break and daily close above that level sets the stock for a run to its chart pattern price target around $9.50, a 21% price increase from breakout level. Earnings coming up in 2 days. Add...
Universal Technical Institute, Inc. engages in the provision of postsecondary education. It operates through the Postsecondary Education and Other segments. The Postsecondary Education segment offers technical training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians as well as welders and CNC...
Entry level pre earnings preferably on break above resistance @ $ 6.09.
Target price at Fibonacci expansion level 1.414 @ $ 7.80.
This is a possible breakout play from a multiyear basing pattern.
A break to the upside could be explosive as could a drop.
High risk high rewards.
Company profile
Universal Technical Institute, Inc. engages in the provision of...
UTI is in a strong downtrend on daily chart but i'm looking for a short term wave up with a good potential gain, from 35% to 65%. Pay attention to the level posted on chart for a possible bounce. A strong breakdown under the lower rectangle invalidates this setup.
