Danaher
Updated
Description: After the price gaped up above a significant resistance level which now acts as support it has formed a bull flag which retraced right to the support level. The trade can be entered immediately, the target is right around 296$ (1:1 Fibonacci extension of the former impulsive move) and the stop should be placed below the support area (244$).
Chartpattern: Bull Flag
Entry: Immetiately
Stop: 244$
Target: 296$
Stopmanagement: ATR Stops daily chart default settings
Risk/Reward-Ratio: 5:1
Intermarketanalyses: Due to the fact that we are probably seeing an increase in inflation which will persist for a longer period of time companies with a high amount of outside capital will underperform the broad market (especially the tech-sector) whereas stocks which are in the defensive sector usually show a relative outperformance
Chartpattern: Bull Flag
Entry: Immetiately
Stop: 244$
Target: 296$
Stopmanagement: ATR Stops daily chart default settings
Risk/Reward-Ratio: 5:1
Intermarketanalyses: Due to the fact that we are probably seeing an increase in inflation which will persist for a longer period of time companies with a high amount of outside capital will underperform the broad market (especially the tech-sector) whereas stocks which are in the defensive sector usually show a relative outperformance
Trade closed: stop reached
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