$VMW trade update and short /midterm targets$VMW clearly broke out of the rising channel, failed to form a flag and now it ready to selloff lower.
VMW
$VMW insiders know how to execute trades perfectly1. $VMW formed daily strong reversal candle.
2. Insiders sold on resistance knowing something.
3. Rising bearish channel broken.
4. Tonight thousands will study $VMW chart and selling will happen from the start tomorrow.
Is VMW done correcting!?VMW took a big tumble with over 20% drop from the ATH over the last 2 weeks. It seems to have found its bottom at around 166ish. It is very oversold on the Murrey's channel. The Master MACD is indicating it is beginning to recover. The Alpha-Omega Volatility also indicates an overall shift to bullish volatility. Warning and UP has also appeared to help confirm a change in direction. A double bottom seems to have also been set.
Overall VMW is still in a strong uptrend on the longer time frames. This was a much needed correction with people taking profits.
-faulkin
CRM-Know What I Like About Earnings Gap Ups? The Pullbacks3-6 Know what I like about issues that gap up on earnings?
More often than not once the dust settles they tend to build
a pullback pattern offering a lower risk entry vs chasing the
gap. A lot of times they'll pullback to a support zone. As
you can see that is what's happening with this issue.
The blue lines are support zones for stop loss and risk
management purposes. You've got choices. You can think
about buying here then manage the blue support zones. Or
you can wait for an upside crossover of the green line then
manage the blue lines.
For informational and educational purposes only, trade at your own risk
