As of 02/03/2023
  Indus: 33,926 -127.93 -0.4%  
  Trans: 15,518 -122.49 -0.8%  
  Utils: 954 -22.84 -2.3%  
  Nasdaq: 12,007 -193.87 -1.6%  
  S&P 500: 4,136 -43.28 -1.0%  
YTD
 +2.3%  
 +15.9%  
-1.4%  
 +14.7%  
 +7.7%  
  Targets    Overview: 02/01/2023  
  Up arrow35,100 or 33,150 by 02/15/2023
  Up arrow16,000 or 14,350 by 02/15/2023
  Up arrow1,040 or 950 by 02/15/2023
  Up arrow12,400 or 11,000 by 02/15/2023
  Up arrow4,250 or 3,900 by 02/15/2023
As of 02/03/2023
  Indus: 33,926 -127.93 -0.4%  
  Trans: 15,518 -122.49 -0.8%  
  Utils: 954 -22.84 -2.3%  
  Nasdaq: 12,007 -193.87 -1.6%  
  S&P 500: 4,136 -43.28 -1.0%  
YTD
 +2.3%  
 +15.9%  
-1.4%  
 +14.7%  
 +7.7%  
  Targets    Overview: 02/01/2023  
  Up arrow35,100 or 33,150 by 02/15/2023
  Up arrow16,000 or 14,350 by 02/15/2023
  Up arrow1,040 or 950 by 02/15/2023
  Up arrow12,400 or 11,000 by 02/15/2023
  Up arrow4,250 or 3,900 by 02/15/2023

Bulkowski's Guess (GES) Trading Quiz

Released 11/29/2021.

GES: 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 top, triple bottom, big W.

The answer is on the next slide.
2 / 3
chart pattern

Price has broken out downward from the falling wedge.

Question 1: Do you buy or sell short the stock?
Question 2: What is your price target?
Question 3: What is your stop loss price?
See the next slide for answers.
3 / 3
chart pattern

Answer 1 (buy?): Sell short, if you dare, because of the downward breakout.

Answer 2 (target?): I would expect price to decline to the flag at A, a knot of support that might cause a pullback. After that, I would expect a continued decline because the odds favor it (53% of the time).

Answer 3: If price closes above the top trendline, then I would close out my position.

Price made a lower low the next day but then gapped up to close above the top trendline. That would be the exit signal. A downward breakout followed by a quick reverse is common behavior for falling wedges, since it happens 31% of the time. That may not sound like much until it happens to a stock you have shorted.

The End.

See Also

 
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