As of 10/03/2024
  Indus: 42,012 -184.93 -0.4%  
  Trans: 15,745 -226.81 -1.4%  
  Utils: 1,058 -6.74 -0.6%  
  Nasdaq: 17,918 -6.64 0.0%  
  S&P 500: 5,700 -9.60 -0.2%  
YTD
 +11.5%  
-1.0%  
 +20.0%  
 +19.4%  
 +19.5%  
  Targets    Overview: 09/30/2024  
  Up arrow43,500 or 41,600 by 10/15/2024
  Up arrow16,800 or 15,700 by 10/15/2024
  Up arrow1,125 or 1,025 by 10/15/2024
  Up arrow19,000 or 17,600 by 10/15/2024
  Up arrow5,900 or 5,600 by 10/15/2024
As of 10/03/2024
  Indus: 42,012 -184.93 -0.4%  
  Trans: 15,745 -226.81 -1.4%  
  Utils: 1,058 -6.74 -0.6%  
  Nasdaq: 17,918 -6.64 0.0%  
  S&P 500: 5,700 -9.60 -0.2%  
YTD
 +11.5%  
-1.0%  
 +20.0%  
 +19.4%  
 +19.5%  
  Targets    Overview: 09/30/2024  
  Up arrow43,500 or 41,600 by 10/15/2024
  Up arrow16,800 or 15,700 by 10/15/2024
  Up arrow1,125 or 1,025 by 10/15/2024
  Up arrow19,000 or 17,600 by 10/15/2024
  Up arrow5,900 or 5,600 by 10/15/2024

Bulkowski's UNUM Provident (UNM) Quiz

Released 8/10/2022.

UNM: Quiz

Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.


1 / 4
chart pattern

Look for the following chart patterns (If you find others, great!): small head-and-shoulders bottom, descending triangle, ascending triangle, and a ascending broadening wedge.

The answers are on the next slide.
2 / 4
chart pattern

The ascending triangle has broken out downward.

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 answer appears on the next slide.
3 / 4
chart pattern

Answer 1 (buy?): short the stock if you are crazy enough to want to risk it. If I owned this stock, I’d sell it.

Answer 2 (target?): Measure the height of the triangle and project it downward from the breakout price. That’s the high at 33 minus the low at 30.44 (pattern start) giving a height of 2.56. Subtract it from the breakout of 32.20 for a target of 29.64.

Answer 3 (stop?): The top of the triangle would be a good stop location, especially since it’s at the round number of 33. I’d place the stop at 33.07 or so. That would mean a potential loss of less than 4%.

The stock has moved up from the low in October.

Question: What would cause you to cover the short?

The next slide shows the answer.
4 / 4
chart pattern

Price formed a triple bottom. By drawing a "neckline" along the price peaks in the pattern, a close above the red line signals an upward move and time to close out the short position.

The End.

See Also

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