As of 12/20/2024
Indus: 42,840 +498.02 +1.2%
Trans: 15,892 +32.54 +0.2%
Utils: 986 +14.76 +1.5%
Nasdaq: 19,573 +199.83 +1.0%
S&P 500: 5,931 +63.77 +1.1%
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YTD
+13.7%
0.0%
+11.9%
+30.4%
+24.3%
|
 44,200 or 41,750 by 01/01/2025 16,100 or 17,700 by 01/01/20251,050 or 975 by 01/01/202520,500 or 19,300 by 01/01/20256,100 or 5,775 by 01/01/2025 |
As of 12/20/2024
Indus: 42,840 +498.02 +1.2%
Trans: 15,892 +32.54 +0.2%
Utils: 986 +14.76 +1.5%
Nasdaq: 19,573 +199.83 +1.0%
S&P 500: 5,931 +63.77 +1.1%
|
YTD
+13.7%
0.0%
+11.9%
+30.4%
+24.3%
| |
|
44,200 or 41,750 by 01/01/202516,100 or 17,700 by 01/01/20251,050 or 975 by 01/01/202520,500 or 19,300 by 01/01/20256,100 or 5,775 by 01/01/2025 | ||
Released 7/13/2020.
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.
On the upper left in March is a Big W that failed to live up to expectations when the right side didn't reach the height of the left at 27+. It did form another Big W which stretches across most of the chart. The rectangle top had an upward breakout that closed out the Big W. Price retraced and threw back to the top of the rectangle.
The "Qtr" near chart top shows where the company announced earnings. It shows the right side of the Big W happened when the company announced earnings the market liked.
Answer 1 (buy?): Since the throwback looks like it has completed, buy.
Answer 2 (target?): For the price target, compute the height of the rectangle and add it to the price of the top trendline. The top is at 21.77, the bottom at 19.84 for a height of 1.93 for a target of 23.70. You can see that price reached that on the breakout day. Since that is no help, use overhead resistance to guess a target. If you draw a horizontal line at 24, there seems to highlight congestion areas. That is also the price at which the stock topped out in the days after the breakout.
Answer 3 (stop?): The rectangle low is a good stop price. That would mean a loss of 10% from the close. Volatility is $0.76 so a stop below 21.08 would work. That would mean a loss of 5%. I would probably opt for the rectangle low because a volatility stop below the minor low seems too close.
This is from my notebook of the trade.
Note that I placed the stop just below the rectangle low. I chose 27 as the target, the price near the high in January 2004, the peak at the far left Big W.
More notebook entries. You can figure out where I placed the stops.
The stock has throwback to the symmetrical triangle apex but the chart doesn't show price turning yet.
I sold the stock. Here's my notebook entry.
Sell reason: Hit stop. I haven't been monitoring my stocks this week as I've been waiting for an internet connection. If I had followed the stock closer, I might have sold sooner because of the downward pierce of an upward channel.
As I look at the chart now, I have no idea where the upward channel is. I made over 11%.
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