As of 05/20/2022
  Indus: 31,262 +8.77 +0.0%  
  Trans: 13,491 +51.76 +0.4%  
  Utils: 991 +1.46 +0.1%  
  Nasdaq: 11,355 -33.88 -0.3%  
  S&P 500: 3,901 +0.57 +0.0%  
YTD
-14.0%  
-18.1%  
 +1.0%  
-27.4%  
-18.1%  
  Targets    Overview: 05/15/2022  
  Up arrow33,500 or 30,500 by 06/01/2022
  Up arrow14,700 or 12,400 by 06/01/2022
  Up arrow1,050 or 940 by 06/01/2022
  Up arrow12,800 or 11,000 by 06/01/2022
  Up arrow4,150 or 3,700 by 06/01/2022
CPI (updated daily): Arrows on 4/21/22
As of 05/20/2022
  Indus: 31,262 +8.77 +0.0%  
  Trans: 13,491 +51.76 +0.4%  
  Utils: 991 +1.46 +0.1%  
  Nasdaq: 11,355 -33.88 -0.3%  
  S&P 500: 3,901 +0.57 +0.0%  
YTD
-14.0%  
-18.1%  
 +1.0%  
-27.4%  
-18.1%  
  Targets    Overview: 05/15/2022  
  Up arrow33,500 or 30,500 by 06/01/2022
  Up arrow14,700 or 12,400 by 06/01/2022
  Up arrow1,050 or 940 by 06/01/2022
  Up arrow12,800 or 11,000 by 06/01/2022
  Up arrow4,150 or 3,700 by 06/01/2022
CPI (updated daily): Arrows on 4/21/22

Bulkowski's Eagle Materials (1) Trading Quiz

 

Released 8/9/2021.

EXP1: 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 (if you find others, great!): symmetrical triangle, falling wedge, broadening formation right-angled and descending, Eve & Adam double bottom, Eve & Adam double top, ascending scallop, inverted and ascending scallop.

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

Please forgive how my computer drew the blue lines, but you get the picture. Price has broken out downward from the broadening formation in March 2005. It has also confirmed the Eve & Adam double top, suggesting a downward price trend.


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?
See the next slide for answers.
3 / 3
chart pattern

Answer 1 (buy?): Since the breakout is downward, short the stock but recognize that when price reaches the blue line, it could reverse there. That doesn't leave much of a profit opportunity.

Answer 2 (target?): I'd use underlying support as the target -- the blue line.

Answer 3 (stop?): The top of the broadening pattern is 9.8% away. That's just inside the 10% or less that I like to see for a stop, so that's where I'd place it. It still seems unusually far away, though.

The End.

See Also

 
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