There was a predominant uptrend at least throughout 2017 (it made about 45% after first breaking out in Jan '17). However, with the increased volatility in the general market and in this stock's price action specifically, the wedge pattern forming can be expected to progress for at least quick bearish pullback. That is where I'm placing my bets. At least if the...
NYSE:A (Agilent) is about to take off to the next box
The Agilent Tech stock entered a rising wedge pattern from a initial downtrend, suggesting a continuation of the downwards movement in the next few days or weeks as the compression is reaching its end.
Agilent technologies is showing a double top formation at the ~51.62 resistance level. - Decreased volume on second peak - MACD and RSI divergence. Enter short and expect to take profits above the new ~49.35 support line.
Although the entry is in the daily, weekly timeframe also merges soon, potenial entry zone for long distance runner, if not, still a valid early trend entry on the small daily-weekly time-frames. hopefully the upcoming momentum will be enough to distance from current location and proceed to the higher timeframes trend potential.