SYMC Volatile - Breakout Mode - Slight Bull AdvantageSYMC is at the bottom of a bull flag trading range and in the midst of an expanding triangle. Prices have been volatile the past two weeks, with gaps up and down. Both sides are fighting for follow through. The bulls have a slight advantage because we are near the bottom of a bull flag trading range. The bears need a strong breakout below the 16 higher low. There have been many bear attempts over the past year to break below, but so far have failed (tails).
The bulls want a test of the all time high around 34, but need a breakout above the 26 level first. The bull follow through from the Jun 3 double bottom pullback was strong, with consecutive bars and bull gaps. The bulls will likely (60%) get some form of second leg up and test of the 24-26 level unless the bears get a strong breakout below the 18 support. There is always atleast a 40% chance of this happening, but until it does, it hasnt.
To learn more about how to determine the directional probability and how to structure a trade based on this with a positive traders equation, please see below.
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SYMC
Global Financial Engineering Swing Trading Strategy for SymantecGlobal Financial Engineering Swing Trading Strategy for Symantec Corp as at July 2, 2019
The Primary Trend (PT) given by the Monthly TIME BAR ( MTB ) is currently Bearish
The Secondary Trend ( ST ), given by the Weekly TIME BAR ( WTB ) is currently Bullish
The Medium Term Trend ( MTT ), given by the Daily TIME BAR (DTB) is currently Bullish
The Short Term Trend ( STT ), given by the Four Hour TIME BAR (FHTB) is currently Bullish
In light of the above trend analysis and other factors we will start a bullish trade using Global Trading Strategy #3 on the Global Automated Trading System #3 which trade in the direction of the Global Daily TIME BARS (GDTB) which is currently Bullish. We will also adjust our normal position size and increase the Global Stop Loss Allowance to two(3) times the Daily Average True Range(DATR)
Global Entry Signal: Buy @$22.18
Global Stop Loss: $20.57
Global Target Profit: $37.00
Global Trade Management Strategy: We will applied the Global Trailing Stop System for Global Position Trading Strategy #3
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SYMC Compression Below ResistanceSymantec Corp. was sideways for most of this year. Recently, it gapped up during earnings season. A weak retracement may be a setup for a breakout attempt against long-term resistance. Red line shows that resistance level on this chart.
[SYMC] Phase 4 -> phase 2?The price is above 30MM, but the slope of 30MM is negative. Theoretically is a phase4, But the support is already established, and the resistance was broken. Maybe is a phase 2. I will wait for a stable slope of 30MM to buy.
SYMC - 08/01Earnings tomorrow, 08/02.
What are they going to deliver?
Been trading in a range ever since last earnings.
symc bounce baby bouncePut this thing on your watch list, it wants to go up and it will take some time. If you believe you can achieve! 25 would be a great goal for this stock! again I repeat just put it on your watch list and grab some coffee, this can take a while.
SYMC Falling WedgeExpecting a sharp decrease once earnings come out tomorrow.
Will probably end up in buy zone in next few days, confirming the wedge.
Bullish divergence on 1D MACD just like we've seen in the past when falling in this fashion.
Buy when we drop into major support (blue) and hold until green.
Being the leader in endpoint protection, you might even want to get in on this entry and hold long term. This company has a lot of room to grow with the growth of InfoSec.
Can it continue towards 30$ to complete this pattern? SYMC had an awesome year so far as the price nearly doubled itself since the double bottom formed during February.
The price is now struggling with a strong week structure zone (25-26$).
If the price will overcome this resistance zone it will probably continue north towards the next potential Sell Zone - 29-30$:
1. Completion of a bearish Gartley pattern
2. Overbought RSI
3. Trend line resistance (uptrend that was support now should act as resistance).
There's still long way to go till 30$ but if you are looking for longer term trading opportunity - Mark 29-30$ as long term bearish setup on your charts.
