After a brief excursion below the blue fork, price is now flirting with the lower parallel of that fork. A breakout above the swing high of 130.4 would push the price back into the blue fork and also trigger a fresh buy signal in the Point and Figure Chart.
The stock looks bullish across Daily, weekly & monthly time frame. Expect a swift move once price gets...
Price have danced beautifully on the handle of the pitchfork therefore it may guide further for the future price action. One may go long at this level with stop loss just below the low made recently for an immediate target of 490 and those who have patience can continue the trade till 540 with trailing stop loss.
The stock is having good frequency around Pitchfork and trend line. One can enter long here or on dips with stop loss of 1210 on closing basis for a target of 1315/1345. I know it is making lower low and lower high clearly in downtrend but trading a pull back expectation. It may achieve target fast in coming days. Divergence are also supporting the idea even if it...
Price rejected at the upper parallel of the blue fork, which is a bearish sign.
The Magenta Fork is a "Reverse Medianline". It has a lot of touches, strengthening its validity.
I would look for the next buying opportunity, if at all, at the lower parallel of the Magenta fork or at the medianline of the blue fork.
If not, price at least has to reverse the...
It is been observed that the price action breaks out from a previously trending Pitchfork channel on daily chart. It is indicating a bullishness in further price action and shall move higher levels if it manages to close above 82 price levels. It can also be called as a short term trend change.
Target: 86
Stoploss: 82
The stock is showing good frequency at the MLs so one can short at current level. The trade offers a good Risk to reward ratio even for the first target.
Look at the annotations in the chart. Plain and simple Andrews Pitchfork rules at play. Price has taken out a minor swing high, indicating a change in behavior.
Your guess is as good as mine wrt above question. If price breaks the lower parallel of magenta fork, it would be a failure and hagopian rule will be in play.
Price has been ranging for a while now. I have a What-if fork in place. Note the reversal bar off the lower parallel. Am stalking this for a potential long trade. the green and the orange colored line represent resistance / target.
