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%
|
34,900 or 33,150 by 02/01/2023
15,100 or 13,500 by 02/01/2023
1,040 or 950 by 02/01/2023
12,400 or 11,000 by 02/15/2023
4,100 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%
|
34,900 or 33,150 by 02/01/2023
15,100 or 13,500 by 02/01/2023
1,040 or 950 by 02/01/2023
12,400 or 11,000 by 02/15/2023
4,100 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
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
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
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.
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See Also
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