$NIU 1 Month #Rectangle #ChartPatternOne of the stocks I am watching closely in the next few days. A breakout from the 1 month rectangle consolidation will sent the stock into ATHs and into uncharted territories.
Classicalcharting
$GPRE 3+ Month #CupandHandle #ChartPatternNice consolidation with $17.50 area acting as pattern resistance. A daily close above that level will confirm the pattern and trigger a long swing trade entry.
$SGMS #Rectangle #Breakout SetupNASDAQ:SGMS been trading sideways digesting its 95% move forming a 2 months rectangle chart pattern. Supply seems to be drying up increasing the changes of a breakout taking place next week.
$FOCS 3 Month #CupandHandle #ChartPatternNASDAQ:FOCS is forming a cup and handle chart pattern with $41 level acting as resistance. A daily close above that level will trigger a long swing trade entry for a possible run to $50 round number.
$RUSHA 1 Month #Rectangle @ ATHsNASDAQ:RUSHA is consolidating at ATHs forming a 1 month rectangle chart pattern. The $38.65 level been acting as resistance. A daily close about that level should propel the stock into higher prices and trigger a long swing trade entry.
$LE 2 Months #Rectangle #Breakout SetupThis footwear maker been showing some glaring resiliency to the market sell off holding strong at the upper rectangle chart pattern boundary for days while the market is dropping like a rock. For some reason, institutions are not selling this stock, at least not yet. Worth watching closely for a swing long and resumption of the upward trend.
Remember, there is nothing certain in trading. A stock that is not selling off today could sell off tomorrow. Always define your risk before entering a trade and step aside when the stock is not doing what you thought it "might" do.
$SCL forming 4 Month #HeadandShoulders Continuation setupNYSE:SCL has been trading right below its ATH zone forming a 4 month continuation head and shoulders chart pattern. The $119 neckline price level has been tested multiple times in the last few weeks. A daily close above that level will send the stock back into ATH territory and trigger a long swing trade. Stock been holding very well against the market sell off and should act strongly if the market firms up and turns around.
$MR 6 Month #Head&Shoulders Continuation #ChartPatternSome stocks stay on my watchlist for months on end before a chart pattern setup takes shape, and NYSE:MR is on of these stocks. After watching it for 3+ months, the stock is getting really interesting.
The stock is working on final stage of its 6 month Head and Shoulder pattern. If you are looking at the daily chart, the H&S is a continuation head and shoulder setup. If you zoom out few years and take a look at the weekly chart, it is a head and shoulders bottom setup. Either way, the implications are the same and that is higher stock prices if we get a pattern confirmation (a daily close above neckline).
The right shoulder of the pattern is taking on the shape of a 2 and half month head and shoulders continuation as well, making this one of the most exciting setups I've come across in a while. Earnings are in 3 days, and if received favorably, could be the catalyst to launch the stock into a powerful uptrend that could reach $9-10 area.
$CUB 1 Month #AscendingTriangle #ChartPatternNYSE:CUB put in a powerful gap through the 200 MA and has been digesting that gap and run for the last 4 week. The stock closed right below $61 level that has been acting as resistance. A clear close above that level should trigger the next leg higher to $70 and $75 price targets. Volume pattern a bit weak and the stock need to see big buyers come in to get it to these levels. That said, its a nice looking setup to watch for next week.
$MU 5 Month #HeadandShoulders Continuation #ChartPatternNASDAQ:MU is forming a 5 month head and shoulders continuation chart pattern with $54.50 price level acting as chart pattern neckline resistance. A daily close above that level will trigger a long breakout entry trade. Target for at least partial profits is around $60-$61 which is also the swing high from Feb pre-covid19 sell off.
$THC 3 Month #HeadandShoulders Continuation #ChartPatternNYSE:THC is forming a 3 month continuation head and shoulders pattern with $30.25 acting as strong neckline resistance that has been tested multiple times. A clear daily close above that resistance level will confirm the pattern and trigger a long entry with price target up to around $39 price level which also happens to be the 52 week high.
BTC 1 Day Rectangle Measured MoveLast "step up" a simple rectangle measured move gave a good price target. These patterns are among the most reliable as far as providing accurate targets from my experience.
I would expect a slight pullback from here (or slightly higher) to retest the breakout, but this trend is quite strong so it may just take off. A break back below the breakout level and close would look like a bigger fall.
$HMLP 4 Month #Rectangle Entered #Breakout ModeI've alerted the breakout setup on October 14th. Strong powerful breakout!
here is the link to post from the 14th.
$NQ_ES $QQQ $SPY $ES_F Testing Breakout levelsBoth Nasdaq and S&P are testing their respective breakout support.
$HEI 2 Month #HeadandShoulders Continuation #ChartPattern$HEI is forming one of my favorite setups in where a chart pattern breakout will also complete a weekly trend line.
1) A head and shoulders continuation chart pattern breakout (blue line on the chart)
2) Already broke a Weekly long term down trend line (red dotted line on the chart)
3) Recently cleared 200 MA
Chart pattern target around $130 price level.
$OTIS 3 Months #HeadandShoulders Continuation #ChartPatternIndustrial Machinery sub-industry has multiple bullish chart setups forming. I have posted about $ITT last week and now $OTIS. The stock is forming a 3 month head and shoulders continuation pattern with neckline @ $66. That level has been tested multiple times. A breakout next week will push the stock into all time high territory!
$ROP 4 month #HeadandShoulders Top #ChartPatternNYSE:ROP is forming a possible 4 month head and shoulders top chart pattern with a $382 price level acting as chart pattern neckline. A clear daily close below that level will confirm the chart pattern and trigger a short trade entry. Notice how a close below the neckline will also break the 200 MA adding to the importance of that breakdown. Possible chart pattern price target has been added to the chart.
A close above $410 (right shoulder) will negate the chart pattern.
$FANUY 5 Month #HeadandShoulders #Continuation #ChartPatternOTC:FANUY is forming 5 month possible head and shoulder continuation chart pattern. The $20 chart pattern neck line has been tested numerus times through out the years going back all the way to mid 2018 (zoon out to the weekly chart for the bigger picture).
A daily close above $20 will finally break that wall of resistance that's been acting as a ceiling for the stock and set the stage to a rally towards $24 area (next resistance level).
$MAG 3 Month #Rectangle #ChartPattern #Breatkout #SetupMAG Silver Corp is setting up a possible nice breakout trade from the $18 level. The stock closed at an ATH on Friday and well above that $18 critical level that was tested back in 2016 and 2007. Notice the bear trap on 09/23 with the stock closing below rectangle support for one day only to rally the next day. This bear trap, I believe, will end up pushing the stock into higher grounds with short scrambling to cover their positions.
$ATH 4 month #AscendingTriangle #ChartPatternThe Financial sector has been on fire the last few days and ATH is one that is setting up nicely for a possible ascending triangle breakout trade.
The pattern horizontal boundary @ $37.85 has been tested multiple times. A daily close above that level will confirm the pattern and triggers a long entry. Chart pattern price target identified on the chart.
$MGPI pulling back to breakout supportPicked up few shares today on the pullback to 5 month rectangle pattern support (broken resistance becomes support). Will the stock bounce from here? I have no idea, but what setups like this take place, you take them and then let the market does what it wants to do :).
$KRA 4 Month Continuation #HeadandShoulders #ChartPattern$KRA been consolidating around the 200 MA for the last 4 months forming a nice continuation head and shoulders chart pattern. The stock tested the $19.50 price level multiple times and closed right below it on Friday. If you buy a clear close above chart pattern boundary resistance, watch for the down slopping weekly trend line (red line on the chart) as the stock could hesitate or reverse at around $23.
$PS 5 Month #Rectanle #ChartPatternAnother short I'm tracking for this week is NASDAQ:PS .
It formed a 5 month rectangle with $16.40 acting as support. The stock broke the 200 MA and been consolidating right below it forming a month long rectangle failing to stage a meaningful bounce from rectangle lower boundary with $18 acting as strong resistance.
A clear close below $16.40 will complete the 5 month rectangle chart pattern and trigger a short entry.
Chart pattern price target added to chart.
