As of 06/02/2023
Indus: 33,763 +701.19 +2.1%
Trans: 14,150 +270.31 +1.9%
Utils: 900 +9.20 +1.0%
Nasdaq: 13,241 +139.79 +1.1%
S&P 500: 4,282 +61.35 +1.5%
|
YTD
+1.9%
+5.7%
-7.0%
+26.5%
+11.5%
|
33,950 or 32,000 by 06/15/2023
14,600 or 13,350 by 06/15/2023
935 or 880 by 06/15/2023
13,600 or 12,200 by 06/15/2023
4,350 or 4,000 by 06/15/2023
|
|
As of 06/02/2023
Indus: 33,763 +701.19 +2.1%
Trans: 14,150 +270.31 +1.9%
Utils: 900 +9.20 +1.0%
Nasdaq: 13,241 +139.79 +1.1%
S&P 500: 4,282 +61.35 +1.5%
|
YTD
+1.9%
+5.7%
-7.0%
+26.5%
+11.5%
|
33,950 or 32,000 by 06/15/2023
14,600 or 13,350 by 06/15/2023
935 or 880 by 06/15/2023
13,600 or 12,200 by 06/15/2023
4,350 or 4,000 by 06/15/2023
|
|
Bulkowski's Southwest Airlines (LUV) Trading Quiz
Released 11/30/2021.
LUV: 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
What chart patterns can you find? Look for the following (if you find others, great!): Adam & Adam double bottom, head-and-shoulders top, large descending triangle, symmetrical triangle.
The answer is on the next slide.
2 / 3
Price dropped below the large descending triangle in September 2005. When price climbed above the top trendline, it was a buy signal.
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
Answer 1 (buy?): Buy. This type of fake downward breakout could signal the start of a strong uptrend.
Answer 2 (target?): You could use the height of the large triangle to compute the target but that would give you a huge and probably unrealistic estimate. Instead, I would use
overhead resistance from the weekly chart (not shown). From the prior daily chart, it looks like 15.50 to 16.25 will cause problems for the stock. That's the Nov 2004 to January sideways move.
You can see a part of it on the left of this chart.
Answer 3 (stop?): From the September low, because price has climbed far to pierce the blue trendline, using the bottom of the triangle would mean a large loss.
2x volatility is just 68 cents, suggesting a stop no closer than 13.80 would work well. That corresponds to the congestion region I have circled in red. That's where I'd place my stop,
perhaps just below this.
As you can see, price continued to move up after the throwback attempt. It exceeded the target price and reached a high of 17.90.
The End.
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❯
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