The Breakaway Gap speak for itself
This is the classic Chart Patterns you can watch in the Textbooks
My intention is not to try to convince you using sophisticated Indicators and a lot complicated financial jargon.
But here's the explanation:
First look the Support at the end of 2008 around 10.20 then go to the now exactly 2017/05/22 and again make a Support around 10.20
Then go to this date August 23 2017 and look the Daily Chart and identify the Full Gap between the close and the open this was a 16% Gap. This is called a Breakaway Gap
Then the price make some rally and now is consolidating between 15.20 and 17.40 and is forming a recognizable pattern
(The name of the Pattern do not care you only need to recognize and act in consequently with the price)
This is the now. you understand me.
The Analysis always start from a Weekly Chart and then I use the Daily Chart To be more precise
My Stock Picks are For Long Term Investors and The Fundamentals research are your responsibility the same thing is for the Position sizing and the Stop Loss
I'm just an analyst I not a Trader.
Here you can make your Fundamentals research:
marketbeat.com/stocks/NYSE/GES/
Additional Material for learning about the Gap:
investopedia.com/articles/trading/05/playinggaps.asp
stockcharts.com/school/doku.php?id=chart_school:trading_strategies:gap_trading_strategies
My intention is not to try to convince you using sophisticated Indicators and a lot complicated financial jargon.
But here's the explanation:
First look the Support at the end of 2008 around 10.20 then go to the now exactly 2017/05/22 and again make a Support around 10.20
Then go to this date August 23 2017 and look the Daily Chart and identify the Full Gap between the close and the open this was a 16% Gap. This is called a Breakaway Gap
Then the price make some rally and now is consolidating between 15.20 and 17.40 and is forming a recognizable pattern
(The name of the Pattern do not care you only need to recognize and act in consequently with the price)
This is the now. you understand me.
The Analysis always start from a Weekly Chart and then I use the Daily Chart To be more precise
My Stock Picks are For Long Term Investors and The Fundamentals research are your responsibility the same thing is for the Position sizing and the Stop Loss
I'm just an analyst I not a Trader.
Here you can make your Fundamentals research:
marketbeat.com/stocks/NYSE/GES/
Additional Material for learning about the Gap:
investopedia.com/articles/trading/05/playinggaps.asp
stockcharts.com/school/doku.php?id=chart_school:trading_strategies:gap_trading_strategies
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