$CNC ready to break out of its ~5 month basse?Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Building a base on base pattern
* Held up very well against the general market and its sector
* Recently bounced from its 50 day line
* Printed a pocket pivot with higher than average volume
* Saw a lot of demand around the 50 day line a few days ago with a strong bullish hammer
Technicals:
Sector: Healthcare - Healthcare Plans
Relative Strength vs. Sector: 1.15
Relative Strength vs. SP500: 1.1
U/D Ratio: 1.22
Base Depth: 18.61%
Distance from breakout buy point: -1.98%
Volume 39.0% above its 15 day avg.
Trade Idea:
* You can enter now as the price is still close to the 50 day line and just printed a pocket pivot
* If you want a better entry you can look for one around 86.8 as that should hold as support moving forward
* This stock usually has local tops when the price closes around 11.18% above its 50 EMA
* Consider selling into strength if the price closes 10.98% to 11.38% (or higher) above its 50 EMA
* The last closing price is 6.04% away from its 50 EMA
Rectanglepattern
CADPNL to Break The Pattern's Boundary and Continue Up?CADPNL is about to complete the rectangle pattern. IF the price decisively breaks above the boundary, we can buy CAD against PNL.
Target is equal to the pattern's height: 3.64
Stop Loss below the lowest point of the day when a breakout occurs.
VET Parallel Channel$Vet is preparing for the breakout as trading in range last 30 days.
In the relief rally (green) scenario, $0.039 & $0.044 are the two most important levels to exit or look for shorts.
Do not buy the breakout!
The most crucial support is $0.024 n’ I’m almost sure it’ll break during the bear market.
Look $0.018 for longs.
Thoughts on GBPUSD (Bearish possibility)Although the market is consolidating, the market is moving on a price range and making a rectangle pattern. We just have to wait for the price to give us the entry whether is a sell or buy. I'm inclining to believe that gbpusd will go for a short position and mostly because we've been in a bearish market this past months, but we just have to wait for the price to tell us what it's going to go. Target would be the green lines depending what the market does in the future.
Do you have any other ideas? Let me know on the comments.
$BNX - bullish if we break out of the rectangle pattern!the price has formed a rectangle pattern made of a good support level @100 and the resistances @120 and @130
if we see a breakout from the @130 resistance on the 1D timeframe, we can expect a good rally until the following resistance, which would be around 160 thus providing a juicy 17 % ish profit!
I'm entering if this scenario plays out, just be patient guys!
let me know what you think about this!
XTZ (TEZOS) ANALYSIS UPDATEGood analysis is not the one that is perfect but the one that has numerous backup plans to reduce probability to the minimal.
Following XTZ for the past few days we have 4 different pattern in place the up trendline which failed along the line, the Wolfe pattern which was truncated, the ascending triangle which as well failed (got me remembering the old time rule which says never risk more that 2% of your portfolio on triangles), and finally, the rectangle pattern!.
Now its heading towards resistance of the rectangle. if price closes above the rectangle with volume then go long else, watchout it could still go back to it origin.
BTC going to be bearishAs we posted in previous idea BTC is trading inside a bearish triangle and its broke out of it. Most youtubers still saying we are bullish but birdies are not.
We are seeing a rectangle which is a continuation pattern means soon we are going more down to hit our target which is 40k-41k.
We may go down from here or we gonna retest the neckline of triangle but both scenarios are bearish.
TRV: RECTANGLE PATTERN BREAK WATCHRectangles can extend for a few weeks or many months, and provide great trade opportunities every time the stock touches the top or bottom of the rectangle, until it finally breaks to the upside or downside.
TRV has been trading in a range (146.75 / 162.77) since February, forming a rectangle pattern. Generally, the longer the pattern, the more significant the breakout .
I will watch for a break of 162.77 and enter a long trade only if we break this level.
First target at more or less 180.