ARMK is undergoing consolidation after finishing its breakout of a descending broadening wedge to the bullish side This consolidation could be called a base formation Which can be observed to have been formed in price action in history also Structural similarities between the base formations
NYSE:ARMK looks very bullish with a nice bottoming pattern on top of the 200 EMA. It looks almost like an inverse head and shoulders bottom The buy setup entry is at $38.05 taking out the high of today's bar If you want a very aggressive stop loss I would use the low of today's bar at $37.46 A more conservative stop loss is below the June 4th low at $35.52
EARNINGS-RELATED VOLATILITY CONTRACTION PLAYS: LB (7/69/16.0%):* Announcing Wednesday after market close. ARMK (11/56/13.1%): Announcing Tuesday before market open. TGT (30/39/8.6%): Announcing Wednesday before market open. Honorable Mentions: LOW (23/39/8.6%): Announcing Wednesday before market open. HD (17/31/6.7%): Announcing Tuesday before market open. WMT...