As of 10/23/2020
  Indus: 28,336 -28.09 -0.1%  
  Trans: 11,880 +131.58 +1.1%  
  Utils: 894 +2.40 +0.3%  
  Nasdaq: 11,548 +42.27 +0.4%  
  S&P 500: 3,465 +11.90 +0.3%  
YTD
-0.7%  
 +9.0%  
 +1.7%  
 +28.7%  
 +7.3%  
  Targets    Overview: 09/29/2020  
  Up arrow29,300 or 27,400 by 11/01/2020
  Up arrow12,000 or 11,000 by 11/01/2020
  Up arrow915 or 840 by 11/01/2020
  Up arrow12,800 or 11,300 by 11/01/2020
  Up arrow3,700 or 3,400 by 11/01/2020
CPI (updated daily): Arrows on 9/25/20
As of 10/23/2020
  Indus: 28,336 -28.09 -0.1%  
  Trans: 11,880 +131.58 +1.1%  
  Utils: 894 +2.40 +0.3%  
  Nasdaq: 11,548 +42.27 +0.4%  
  S&P 500: 3,465 +11.90 +0.3%  
YTD
-0.7%  
 +9.0%  
 +1.7%  
 +28.7%  
 +7.3%  
  Targets    Overview: 09/29/2020  
  Up arrow29,300 or 27,400 by 11/01/2020
  Up arrow12,000 or 11,000 by 11/01/2020
  Up arrow915 or 840 by 11/01/2020
  Up arrow12,800 or 11,300 by 11/01/2020
  Up arrow3,700 or 3,400 by 11/01/2020
CPI (updated daily): Arrows on 9/25/20

Bulkowski's Human Genome Sciences Trading Quiz

 

Released 9/30/2020.

HGSI: Quiz

Below is a slider quiz to test your trading ability. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.

 

1 / 5
chart pattern
What chart patterns can you find? Look for the following: ascending triangle, 3 double bottoms, three falling peaks (one pattern).
Answers are on the next slide.
2 / 5
chart pattern

The triangle has broken out upward.

Question 1: Do you buy, short, or avoid trading this stock?
Question 2: If trading this one, what is the target price?
Question 3: If trading this one, what is the stop price?
The answers appear on the next slide.
3 / 5
chart pattern

From my trading notebook.

"Date: 6/30/05. Trade time: placed after the close today. Filled at 11.71. Stop: 10.63. Upside target: 13.45 using 100% measure rule or 12.58 using 50% of height. Future Nasdaq direction (guess): It's at the bottom of a broadening pattern with a partial rise, expect a downward breakout.

"Buy reason: ascending triangle with potential upward breakout. This is high risk as market is unsettled and I predict it will go down in the short term. Earnings are due 7/25. In the third quarter, drug trial results are due from lupus trial of lymphoStat-B drug in phase II. If results show promise, the stock will pop. Otherwise, it might DCB [dead-cat bounce]. In short, I think this will result in a losing trade. Why invest? It's a buy signal. Period. Use a stop to minimize the loss. If the general market pulls the stock down tomorrow or in the future, the stop order to buy won't be hit."

More on next slide.
4 / 5
chart pattern

Here is my notebook entry for the sale.

7/5/05. Stop placed at 10.91, just below the 63% Fibonacci retrace since the stock has broken out to new highs. Potential loss: 7%.

7/8/05 (Friday). Stop raised to 12.13. That's just below the intersection of a long term down trendline on the weekly chart and just above the 50% Fibonacci retrace line. I'm tempted to sell and cash in after just a few days in the trade. The high volume suggests a dearth of new buyers waiting in the wings, but with the positive news of a broker covering the stock and promising news on the drug trial front (Glaxo taking an option), this might be a longer term play.

Date: 7/11/05 (Monday). Sold at 13.72, at market open.

Sell reason: This is up on a broker initiated coverage with a buy (on Friday). Very heavy volume but it's less than yesterday even though price closed higher. My guess is the stock will open lower and head back down. Momentum is slowing. RSI [relative strength index] is overbought. ROC (rate of change) is overbought. The indicators are saying it's time to bail out.

I bought at 11.71 and sold at 13.72 for an 11-day gain of 17%.

What happened next?
5 / 5
chart pattern

Looks like I sold about two weeks too early but I was lucky to stand aside while the stock dropped in half when one of its drugs in development failed trials.

The end.

See Also

 
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Chart Patterns: After the Buy Getting Started in Chart Patterns, Second Edition Trading Basics Fundamental Analysis and Position Trading Swing and Day Trading Visual Guide to Chart Patterns Encyclopedia of Candlestick Charts Encyclopedia of Chart Patterns 2nd Edition Trading Classic Chart Patterns

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