being long the abt from 38.5 calls, which is the yearly pivot I expected resistance from the YP and a move upwards, which seems to be taking place. target is 42 area. 1.10.17 (m/d/y) high was 41.62!!
It has been awhile since I last traded stocks, I have been focusing on mainly on the Forex market. I would like to add on some stock analysis here from now on. Why Abbot as my first analysis, we have been giving our kids milk powder from Abbot since they were born ;) (no I am not a spokes person from Abbot) hahaha
Price completed the Bat pattern at around...
A beautiful bullish gartley, i have open my position at 38.62 t1 hit but i aspect 42.80 for the final target. half position closet at 38.2 fibo stop loss at breakeven.
black line:
simply ab=cd pattern
red line:
difficult to trade!!!
important is 37,61.
if the level triggered is ur take profit at 43,7
look there for a reversal!
green line:
difficult to trade but best crv!!!
important is also 37,61 and 36,1 but not 35,28
AND
if the level triggered above 43,7 is it going up to new higher highs
how to trade?
look for a...
ABT recently broke the resistance of the down trend. It's coming down now to retest it (previous resistance which now is support). Probably should have waited until it will touch the trend line ($41-$42), but I got excited by the price meeting multiple EMAs and I initiated a long position at $42.
That chart comments say it all:
You need to know that investments are far more volatile than what people discuss and far more than most people can handle because you need to expect to see big declines from time to time because that's just what happens. If you borrow money to buy stocks, you will take too much pressure and face liquidation by the margin...
I'm honestly not sure what to think right now. We recently broke the neckline on a head and shoulder's pattern and we just broke the 200 MA. However, RSI is oversold and the wick stopped right at a resistance and just below the .618 fib line (I'm really not a fib expert). Since you are still in it, I think there is more downside back to 33.72, but then we may...
