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 Smith International (SII) Trading Quiz


Released 3/31/2022.

SII: 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!): 2 ascending broadening wedges, rising wedge, broadening top, symmetrical triangle, double bottom.

The answers are on the next slide.
2 / 3
chart pattern

The red inset shows a partial rise from a broadening top, which correctly predicts a downward breakout 52% of the time.

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 answers.
3 / 3
chart pattern

Answer 1 (buy?): Hold because price hasn't broken out below the bottom of the broadening top. If that were to happen, then sell immediately. With a 52% success rate for a partial rise, it's best to wait for the breakout.

Answer 2 (target?): Measure the height of the chart pattern and project it in the direction of the breakout, from the breakout price. The high is at 29.09 and the bottom is at 23.73 for a height of 5.36. Add this to the highest high to get an upward target of 34.45 or subtract it from the lowest low for an 18.37 downward target. Price reaches the upward target 66% of the time and a downward target 42% of the time, so consider multiplying the height by 66% or 42%, for the respective breakout direction before adding/subtracting it to the breakout price.

Answer 3 (stop?): Since you own the stock, the stop is the bottom of the chart pattern.

Price has flat lined since leaving the broadening top chart pattern. In other words, it hasn't done much...at least for the period shown.

The End.

See Also

 
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