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 Goodrich (GR) Trading Quiz

 

Released 11/29/2021.

GR: 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!): diamond bottom, 2 symmetrical triangles, 2 broadening tops, inverted and ascending scallop.

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

It's well after the downward breakout from the symmetrical triangle. Price pulled back into the pattern and eventually moved higher, busting the downward breakout. A busted chart pattern suggests a strong rise.

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

Note: I drew the triangle a bit differently in this chart from the prior one.

Answer 1 (buy?): Buy, but recognize that you're late to the party. That increases the risk of a failed trade.

Answer 2 (target?): I'd use the height of the triangle projected upward from the top of the chart pattern. Alternatively, you can draw a line from the top of the triangle upward and parallel to the lower trendline. When it reaches the DAY of the breakout (and I'd use the lower breakout as a guide), then the position (price) of the line directly above the breakout becomes the target price. I show this in the chart.

The green line is the one drawn parallel to the bottom of the triangle. From the downward breakout, the price of the green line directly above becomes the target. Price reaches the target soon after buying.

Answer 3 (stop?): I'd place it at point A. A check of volatility says to place a stop no closer than 40.51, or 4.6% lower than the current close. I show the price as the yellow line. Choose which one you prefer.

This chart shows what happened to the stock after buying. If you owned the stock, selling when price pierced the up-sloping red trendline would work well. It would have saved you from a world of pain.

The End.

See Also

 
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Chart Patterns: After the Buy

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