Anatomy of DKS bearish chart pattern pre-earningsDicks Sporting Goods: The big box format stores in the US for sports equipment, yoga and workout clothing, golf, basketball, baseball, football, .... you name it practically, they have it.
The green triangles are the levels where earnings were reported and DKS faltered at that key level after the last two earnings reports indicating heavy selling interest.
The 44-day low in RgMov, the trend indicator, set up the big wave down and any overbought readings are low risk entries to go short.
We couldn't have known it would gap down that far on earnings and guidance today, but the signs were there for trouble.
There is a short-selling opportunity at the end of tomorrow at the mid-point of the last 3 days trading range. I'll be publishing that at the end of tomorrow.
Here's hoping you are doing well in your investing and trading this year and that you are using all of the powerful tools here at TradingView to empower your trading.
All the best,
Tim West
Nov 17, 2015 11:18PM EST
(After looking at the published chart - the yellow pointers should be pointing at the top of the rallies to the KEY EARNINGS LEVEL resistance lines)
