As of 01/27/2023
  Indus: 33,978 +28.67 +0.1%  
  Trans: 14,483 +191.14 +1.3%  
  Utils: 968 +1.08 +0.1%  
  Nasdaq: 11,622 +109.30 +0.9%  
  S&P 500: 4,071 +10.13 +0.2%  
YTD
 +2.5%  
 +8.1%  
 +0.0%  
 +11.0%  
 +6.0%  
  Targets    Overview: 01/13/2023  
  Up arrow34,900 or 33,150 by 02/01/2023
  Up arrow15,100 or 13,500 by 02/01/2023
  Up arrow1,040 or 950 by 02/01/2023
  Up arrow12,400 or 11,000 by 02/15/2023
  Up arrow4,100 or 3,800 by 02/01/2023
As of 01/27/2023
  Indus: 33,978 +28.67 +0.1%  
  Trans: 14,483 +191.14 +1.3%  
  Utils: 968 +1.08 +0.1%  
  Nasdaq: 11,622 +109.30 +0.9%  
  S&P 500: 4,071 +10.13 +0.2%  
YTD
 +2.5%  
 +8.1%  
 +0.0%  
 +11.0%  
 +6.0%  
  Targets    Overview: 01/13/2023  
  Up arrow34,900 or 33,150 by 02/01/2023
  Up arrow15,100 or 13,500 by 02/01/2023
  Up arrow1,040 or 950 by 02/01/2023
  Up arrow12,400 or 11,000 by 02/15/2023
  Up arrow4,100 or 3,800 by 02/01/2023

Bulkowski's Alcon 2 Trading Quiz

Released 2/11/2021.

ACL 2: 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 / 3
chart pattern

What chart patterns can you find? Look for the following: 3 ascending scallops (one looks weird), descending triangles, symmetrical triangle, and a broadening top.

Answers are on the next slide.
2 / 3
chart pattern

Notice that the September ascending scallop has price levels almost at the same price, suggesting the uptrend is near an end. Price tumbles soon after. The December scallop is more V-shaped than I like to see (it's the weird looking one).

The symmetrical triangle has an upward breakout when price closed above the top trendline in February 2005.

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?
My answers appear on the next slide.
3 / 3
chart pattern

Answer 1 (buy?): Buy. The stock is near the yearly high with an upward breakout, a good sign of additional gains.

Answer 2 (target?): Compute the triangle height and add the height to the breakout price. The result will give you a target price which the stock reaches 70% of the time, so be conservative in your target.

Answer 3 (stop?): Volatility is $1.71, so a stop no closer than 77.58 would work well. That means placing a stop below the lowest valley in the chart pattern, which bottoms at 76.74. That would give a potential loss of 3.5%, which is great.

The end.

See Also

 
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