Chart patterns are very subjective. I see this as a symmetrical triangle, meaning it could break in either direction. But if I adjust my trend line, I also see it as a rising wedge, which is a bearish chart pattern.
Either way, I will look for a break above 45 for calls with a target of 50.30, OR a break below with a target of 41. Either move will be an amazing swing!
There are no certainties in the stock market. These names have shown good relative strength and accumulation volume . This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 25 total...
Hey guys,
Just a quick update on how my current trades are doing plus I put on a new pairs trade today; Long $KR / Short $K - Both are large cap food companies with a strong history of profitable pair trades using the Buy Sell Bands as I show in the backtest results.
Check in tomorrow for an update on how my trades are tracking.
Cheers,
Jared.
