Breaking Bearish trendline breakout accompanied with bullish OilThis is the kind of example that like me because immediately I recognize there is an opportunity here and I only draw a resistance line and this resistance line was broken. Now I only need to wait for a pullback or even buy now taking advantage of strong bullish sentiment in the Energy Sector and the whole Stock market in general due from Mr. Trump tax cuts
The other technical aspect of this idea is the big Bearish trend line breakout, big because the down trend was a duration of three years and ten months and in this process the stock lose a lot of value and now looks more cheap and easy to buy more shares in other words this is a bargain.
This idea looks like technical analysis textbooks and my job is to identify they in real time, in the now and then put the ideas in the desk of the traders and managers, other aspects like the position sizing and stop loss and the profit target are the job of other people in the fund, for this reason I built a big watch list that provides me with a constant flow of ideas. I follow more than 1300 companies and my list is very personalized I made it myself and it took me more than six years to select more than 1300 companies in ten industries, I checked one by one of more than 6400 companies in the NYSE and NASDAQ.
For this reason I always recommend Patience, and weekly charts :(
