As of 07/01/2022
  Indus: 31,097 +321.83 +1.0%  
  Trans: 13,289 +132.53 +1.0%  
  Utils: 993 +23.33 +2.4%  
  Nasdaq: 11,128 +99.11 +0.9%  
  S&P 500: 3,825 +39.95 +1.1%  
YTD
-14.4%  
-19.4%  
 +1.2%  
-28.9%  
-19.7%  
  Targets    Overview: 06/29/2022  
  Up arrow32,300 or 29,900 by 07/15/2022
  Up arrow14,000 or 12,500 by 07/15/2022
  Up arrow1,000 or 925 by 07/15/2022
  Up arrow12,100 or 10,750 by 07/15/2022
  Up arrow4,000 or 3,700 by 07/15/2022
CPI (updated daily): Arrows on 6/23/22
As of 07/01/2022
  Indus: 31,097 +321.83 +1.0%  
  Trans: 13,289 +132.53 +1.0%  
  Utils: 993 +23.33 +2.4%  
  Nasdaq: 11,128 +99.11 +0.9%  
  S&P 500: 3,825 +39.95 +1.1%  
YTD
-14.4%  
-19.4%  
 +1.2%  
-28.9%  
-19.7%  
  Targets    Overview: 06/29/2022  
  Up arrow32,300 or 29,900 by 07/15/2022
  Up arrow14,000 or 12,500 by 07/15/2022
  Up arrow1,000 or 925 by 07/15/2022
  Up arrow12,100 or 10,750 by 07/15/2022
  Up arrow4,000 or 3,700 by 07/15/2022
CPI (updated daily): Arrows on 6/23/22

Bulkowski's Newport (NEWP) Trading Quiz

 

Released 2/22/2022.

NEWP: 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!): Big W, 2 double bottoms, 1 three rising valleys, rounded bottom, double top, 2 descending triangles.

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

AADT, AADB, EADB (maybe AADB?) are Adam and Eve variations of double tops and bottoms. 1, 2, and 3 are the three rising valleys chart pattern, although you can find others. The rounded bottom is the big turn in the middle of the chart. It's not exactly smooth, is it? The Big W shows a steep drop on the left side of the pattern, going into the Eve & Adam double bottom.

The AADB has confirmed.


Question 1: Do you buy, short, or avoid trading this stock?
Question 2: What is your price target?
Question 3: What is your stop loss price?
See the next slide for an answer.
3 / 3
chart pattern

Answer 1 (buy?): Buy because of the upward breakout but recognize that the rise may be limited by overhead resistance at the site of the Big W peaks (only the right one appears).

Answer 2 (target?): Overhead resistance at the big W peaks, about 19.

Answer 3: The bottom of the double bottom places the stop 13.5% away. That's too far. A volatility stop is closer at 10.8% away, or 14.61. The red line shows the stop location.

Price climbed to the top of the Big W, paused, and then it continued up in a final push to the summit at 22. From there, it was downhill until price returned to the price of the double bottom.

The End.

See Also

 
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