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Bullflags

Is TNY trading in a Bull Flag or Symmetrical Triangle?Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle, but is also often angled down away from the prevailing trend. Another variant is called a bullish pennant, in which the consolidation takes the form of a symmetrical triangle. The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole. It is important to note that these patterns work the same in reverse & are known as bear flags & bear pennants, but the bullish volume recently indicates that it's unlikely to result in a bearish outcome... Only time will tell, and when it comes to Tinley Beverages, "My favorite time frame for holding a stock is forever." Warren Buffett On a Macro level Tinley has held their share price impressively well comparable to "any cannabis related stock" over the past 4 years boasting roughly 523% gains... On a Micro level we're potentially seeing a trend change from bearish to bullish, indicators that support my narrative is the recent Triple Bottom pattern that's linked to this chart. Also, the increase in buy volume indicates that short sellers are either losing money in their positions to the downside, or they're running short on shares available to short, or they've simply reached their target buy in price... Keep in mind hopium is a schedule 1 narcotic & has killed many Moon Boys in the cannabis sector during 2019.....
CSE:TNYLong
by ScotianBot
TSLA @ Record hi & Breaking out of next bull flag! Short SqueezeTesla is killing it on execution and deliveries, short interest has gone down from record highs to 20% but $ value has actually grown by $2.3B to a record because shorts are shorting at much higher prices. Longs are sitting on Fat gains and will not sell by end of year. Shorts will cover to offset other huge gains which will cause more shorts to squeeze.Tesla is also releasing FSD preview in "Holiday Update" by end of year (maybe over the weekend), and Tesla will report Record Delivery numbers on Jan 2/3rd. All Indicators are also triggering buy signals... A Perfect storm. This is about to blow up!!!
NASDAQ:TSLALong
by BrandonOsborne
Is COT trading in a giant Bull Flag?Maybe a descending triangle as well, but seeing the recent bullish upward since Goldman Sachs recommended a buy rating from neutral. It actually appears as though COT has formed a Triple Bottom, which also appears slightly as a Ascending Triangle. The triple bottom is similar to the double bottom chart pattern and may also look like ascending or descending triangles. When STZ entered the Cannabis space they used Goldman Sachs to broker the deal. Goldman Sachs went bullish on Cott a in July, and why? Well, we know Goldman Sachs is supportive of cannabis via the previous brokered deal with STZ & Canopy. They'd be privy to any Safe Banking & States Act regulations, so that may simply be the answer, front running Cott's entry into the cannabis space? Cott has sold off several assets over the past couple years & have some cash to spend, and seeing so many previous Cott employees in the Cannabis space leads me to believe they may make a surprise entrance into the sector..
CLong
by ScotianBot
DT - Cup & HandleDynatrace has not been actively traded for very long but the daily chart has created a cup & handle pattern which just needs a breakout for confirmation. The backside of the pattern can be interpreted as a bull flag that would have broken out during today's trading session. Notice how the RSI held the 50 level as well as the stock exits an oversold condition. The Sector, Industry, & stock all have relative strength against the SPX as well. My first two price targets that are noted on the chart are Fibonacci extension levels. The third target is based on the bull flag breakout while the fourth target would be if we receive confirmation of the cup & handle breakout.
NYSE:DTLong
by Chartimistic
When Might Bitcoin Be Ready To Resume Its Bull Trend?Summary •Potential Bull Flag continues to form, with Bitcoin falling as much as 52.9% from its 2019 peak. •Nevertheless, a drop below the most recent low has Bitcoin next targeting the $5,900 to $5,427 price support zone. •Recent weekly bearish moving average crossover adds to likelihood of further downside. Bitcoin (BTC/USD) topped out at $13,868.44 in June of this year, thereby completing a 343.2% advance off the December 2018 corrective low of $3,128.89. That low ended a 1-year 84.3% decline off the bull market bubble top of around $19,892, reached in December 2017. Two weeks ago, Bitcoin completed a 61.8% Fibonacci retracement ($7,231.40) off the June high as it fell to a low of $6,526. That low put it 52.9% below the 2019 peak. Bull Flag pattern The price correction since the June high has been normal and well-constructed, forming a potential bull flag trend continuation pattern. This can be seen as the falling parallel trend channel in the enclosed charts. Given the significant advance in the first half of the year, and the related signs of a trend change from bearish to bullish, Bitcoin has a good chance of eventually triggering a continuation of the new bull trend. The 2019 rally exceeded several prior swing highs and the 10-week exponential moving average (ema) crossed back above the 34-week ema. Have we seen the bottom? The question now is, has the bottom of the retracement been reached or might Bitcoin pullback further than it has so far? There’s no way to know this ahead of time but we can identify some important price levels to watch going forward. As long as price stays above the $6,526 swing low, there is a chance for an upside breakout of the bull flag. If the falling trend channel is to further evolve and retain its general shape, a move up to at least the top trend line seems possible in the near-term. A decisive daily close above the downtrend line is the first sign that a bullish breakout of the flag could be in the works. At that point, additional signs of strength will be needed. Watch for a daily close above the most recent swing high of $10,540.49 for confirmation of a bullish breakout. There is also a monthly high at $9,600 from November. Bitcoin has not had a move above a prior month high since the June peak. A move above a prior month high would be an additional sign of a change in the downtrend pattern, to an uptrend. If we see further weakness Alternatively, notice that the 10-week ema has just crossed below the 34-week ema, after being above it since early-May. By itself this is bearish, and supports a bearish scenario if Bitcoin falls below the most recent swing low, thereby triggering a continuation of the downtrend off the 2019 high. If that occurs, next watch for signs of support around the $5,900 to $5,427 (78.6% Fibonacci retracement) price zone, and then for indications of a bottom and subsequent bullish reversal.
COINBASE:BTCUSD
by BrucePowersCMT
IWM - Potential Bull Flag PatternThe Russell 2000 ETF has seen a price run-up since early October as it emerged from an oversold condition. The recent pullback has created what may be a bull flag (magenta trendlines) that is close to breaking out. The IWM also seems to be gaining some relative strength vs the SPX which should bode well for this ETF gaining in price. Upon further evaluation of this daily chart, I might also be able to make a case for an Ascending Triangle pattern (orange horizontal trendline + magenta rising trendline) or a "W" bottom pattern (black trendlines). Regardless of which pattern you accept, all of them are bullish in nature. I have labeled two potential price targets I am looking at using the Fibonacci Extension tool again. I used the 50% , 61.8%, & 100% levels for these price targets.
AMEX:IWMLong
by Chartimistic
SPX: Possible Paths to ATH from 2nd of Three DrivesOF course this is pure guesswork and sheer speculation. Maybe the ATH is already in on Friday. Although futurez are up as I write this, their fair values point to nearly the same prices we saw near the close Fri PM. I marked this chart idea as Neutral, although it's really short-term bearish and longer-term bullish, until it becomes Bearish again in 2020. A lot of new money will have to flow in to push higher from here, market is already in overbought condition. It is a 3-Drive pattern, and an EW Ending Diagonal Triangle (see Mark Rivest post on the EDT for detailed insight- very fine analysis, kudos Mark and ty!): I show two alternate paths in my idea. Many others, of course are possible: Although overbought atm, but irrational exuberance could simply parabola up to the 1.62 Fibo at 3124, before distribution; or a bull wave pullback could begin this week and carry index down to retest the lower channel TL (in pitchfork). A last desperate parabolic climb to stratospheric prices is likely to occur in January, two years since the last time we saw that in Jan 2018. Expect a pullback soon in Nov, a terrific bullup to ultimate ATH, and another big break in Feb/Mar for Fib time and price. IDEA: Just buy UVXY to play this rotation; accumulate VIX ETF shares when VIX <12. UVXY is the Proshares 1.5x ETF; when Vix gains/loses $2, ETF gains/loses $3. On the last explosive Third Drive to the Top the VIX could get crushed to sub-10, as it was in Dec 2017 when it touched $9. Do not buy it too soon! NB: You can also buy call options on VIX itself if you want max leverage and have strong appetite for risk. I suggest getting a LEAP call if you do; on Friday the April 2020 $20 call was $2.30 with Vix at $12.30. It's a pretty fair risk/reward, considering that in Feb 2018 VIX jumped from $9 to $29. High price on VIX was $70 on 10-01-2008. This is not trading or investment advice, it is rank, sheer speculation on my part. Gamble on the futurez at your own risk! GLTA!
TVC:SPX
by DaddySawbucks
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