Island reversal pattern forming for Home Depot NYSE:HD ? Started in Feb 22 almost a year ago after earnings report. If it completes, exceeding 339, then it will be a bullish reversal and 400-420 will be in play. So for next earnings it's possible that price will gap higher. Still watching though. This is not advice. Do your own research and trade your own plan!!
I've been tracking a TSLA long term short from a prior idea and was greedy expecting price to trace back to 150 levels. With the bearish nature of the past couple day's moves, a gap down creating an island is just what the doctor ordered for TSLA to continue its downward path. TLDR Open gap down I’m super bearish. Continue to range in this 190+ zone I will...
1) I believe that the bullish wedge pattern (June-August) is still valid with the price target of 88. 2) Island Pattern, which is reversal and bullish. 3) Price to book ratio: 0.32 4) Insiders are buying the stock at these levels. 1st target: 88 2nd target: 104.85 (gap)
TSTW. Not legal and financial advice; Any information provided here is only the personal opinion of the author.
High timeframe so this could take several months to even get back to the gap fill but very nice high RR on this if it comes to daddy. Classic bearish island top into potential H&S as per Edwards/Magee.
I have an indicator that is the Martin Island Sunset and I Believe they are using the 450 day moving average that is pictured by the colored blue MA. I have a hunch that with all the fud we have been seeing in news and all the lies by banking executives calling for lower btc prices, we could see a final capitulation price of $25,000 for btc. After we achieve this...
First time I've noticed an island bottom in the middle of an uptrend. Looks bullish to me.
It seems like a good annual report triggered hype around Tesla. The chart forms island reversal with 3 price gaps. I will wait for movement start cause I don't know for how long it continues but volume started decreasing.
Bloom has been on a massive / fast paced run since October, however a clear downtrend is still present, and the success (breaking the downtrend) or failure of this bull flag, will determine if the stock rises or falls. An island top is also present with a clear price gap.
Ubisoft has been stuck in a downtrend for awhile now, an initial island can be observed and linked to the current downfall of this stock. Currently the price is trading within a downtrend, where a second island bottom is present, which may lead to a reversal at the immediate support zone. Overall the bearish momentum, outweighs the possible bullish factors.
AKRX can be observed as detrended from its major trendline formed. However this may be recovered with the formation of an island bottom just below the trendline, potentially pushing the price back up into the buy zone. Islands are very predictable chart patterns of reversals in bullish markets (23/24) according to ‘Encyclopedia of chart patterns’.
Achillion has show some nice symmetry, this is mainly a result of the formation of a diamond and island bottom. A golden cross can also be observed increasing the bullishness of this chart. A recent merger has also been announced.
Islands form when 'prices gap up to the formation and then gap down at the same price level' this is what traders would call an island top, where the initial breakout is upward, forming the island seen, and then a drop back down to the water follows so to speak. With a 23/23 success rate in a bull market according to 'Encyclopedia of chart patterns' islands are a...
If the CME futures open tomorrow with a bearish gap, an island will have formed, a technical figure of bearish implications. It would be bearish as long as it remained under the gap formed.
NYSE:WMT has been beaten around lately after a report found they were mistreating a group of 178 female workers. After a gap down, more selling off, and then a rebound just above the widely used 200-EMA, it is now seemingly gearing up for a a bullish reversal out of an island reversal chart pattern. Green line: island reversal trajectory Orange rectangle: Gap...
KHC is forming a bullish Island Reversal. Recently the stock gapped down below 29.00 and never filled. Today it gapped above 29.00. Could this be the bottom. It is a retest gap so I will give it a few days to a week to retest to take a small position.
It's early days, but an island reversal could happen. I think politics will drive the price more than mergers and acquisitions.