DOWD trade ideas
2020 Actual Trade: Ascending Base Breakout (DOW)
Notice material sector (XLB) is among the leading sectors since March market bottom. Material kept rising from March to September non-stop
DOW is one of the leader among mega material stocks from March to June
Consolidation consists ascending base (higher-low) and resistance was set at 46
By the end of ascending base, DOW crossed over 46 which triggered buying opportunity with sell-stop about 44-45
DOW did not finish it rally straight up but made a pullback in October. However, 44-45 offered a support and strong rebound
Then, it was a strong rally with a gap-up to its finish line +17% profits within 3 months
$DOW $SPY #PLEXIGLASS Possible longsee full chart at www.tradingview.com
Dow
Entry $44.50
Target 1 $49
stoploss $42
Why?
Looks like we are getting sector rotation from tech to industrial and other beat up stocks.
If we contain to maintain bullishness in the market, this could be a big runner.
The Dow Chemical Company (TDCC) is an American multinational chemical corporation headquartered in Midland, Michigan, United States, and a subsidiary of Dow Inc. The company is among the three largest chemical producers in the world.
Dow manufactures plastics, chemicals, and agricultural products. With a presence in about 160 countries, it employs about 54,000 people worldwide. Dow has been called the "chemical companies' chemical company" as its sales are to other industries rather than directly to end-use consumers. Dow is a member of the American Chemistry Council. The company tagline is "Seek Together".
DOW 50MA Support TrendThis has used the 50 Day MA as support since 5/14. It broke through slightly in early August but quickly returned back to the trend above the MA. Currently sitting at a potential trend line and the 50MA. Potential long swing trade here if this shows confirmation.
ABC Bullish C&HLarge Effective volume and Pocket pivot today
Possible T2: 72.95 86.3
Prior high of 60.52 may cause R
NV is high
Not a recommendation
DOW: Falling WedgeFalling Wedge
TP 1 = 48.15
TP 2 = 49.71
TP 3 = 51.04
TP 4 = 52.82
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Thank you and Good Luck!
Ascending Base Breakout: DOW1. Two-month ascending base breakout: DOW with entry point 47
2. Solid base with high volume breakout
3. Sell-stop @45
DOW BUY OR LONG , TARGET UP TO $51.5DOW , immediately following the ascending triangle is the symmetrical triangle of Dow .
DOW buy : $44.5
DOW target : 51 +-1
Stop loss : $42.5
Wish you a good deal!
$DOW #Brokeout of 2 month #Symmetrical #TriangleNYSE:DOW I alerted to the breakout over the weekend and the stock made its move out of symmetrical resistance trend-line in today's session. Once in a trade, use your risk management skills and your pre-defined stop loss.
Post from the weekend.
DOW forming 2 month #Symmetrical #Triangle #ChartPattern NYSE:DOW another stock consolidating in a symmetrical triangle chart pattern that looks like its ready to breakout this week.
DOW surge since #USA shutdown IS a correction to prev impulseExpecting the next hard impulse/continuation @ around 48 - 50.30
Your Thoughts?
~Always remember to look left!
<--- Q~Q
DOW Bullish PennantDow forming a bullish pennant currently. Breakout with a push to 10% profit on confirmation of retest.
