AMED - One Last Move Down Areas in the red circles are very similar positions, a position where price is in the act of falling.
This falling will continue until the thicker white line is hit which is at about $50
Trend line analysis
AMED trade ideas
AMEDAMED pulls back to retest support. If this level fails we'll have continued Bearish movement. If price respects this level as valid support there is a chance of a inverse head and shoulders patterns being printed after a rejection.
Pull Back Fishing Reading Gap Down CandlesPocket pivot today when price hit 166.01 which is very close to the prior 2 bottoms making this a triple bottom. I am not sure this is out of the woods yet and it's sector, healthcare, would also need to come in to favor for this to move.
The point of posting this was to show the gap down closing candle that AMED incurred which is a bad candle to gap down on. It would make one think there will be further declines, as it has a long upper wick on top of being red. Gapping down is bearish in general, but the candle close can make a difference on whether you should perhaps wait to buy the security. I used to see this happen and think "Oh Wow" I can get this security dirt cheap. I finally figured out that even dirt can get cheaper )o:
A doji is preferable to this candle, and a green doji is better than a red one to close the gap down day on. Better yet, a hammer! LOL We can't always be that lucky but would be ideal. This candle, the initial gap down candle, has a long top wick and is a red candle. Price did not close at the low of the day (the low is the bottom of the lower tail/shadow and close is at the bottom of the candle body on a red candle) But did not make it far off the low at close. A green candle is opposite as far as the open and close, but the high and the low of the session is the same as a red candle.
There is also a shooting star and a hanging man at the top of the symmetrical triangle before the earnings miss. Candles can mean nothing at all, but often 2 or more can mean a lot. At or close to the top, this candle can be ominous. Weekly and monthly candles are stronger than a daily candle and on down the line. Long top wicks can represent a battle with overhead resistance (but you will usually see more than one candle fighting the resistance). Or a long top wick, especially without a bottom wick and at the top or close to the top, can be a signal to be cautious, as the candle will form a bottom tail/shadow, eventually, which can only mean price will go down to form that bottom tail.
AMED had formed a bullish cypher pattern inside the triangle, but could not get past the top trendline/resistance/of the triangle. This would be difficult for any security close to earnings as of late though. Having worked at Amedysis a long time ago, I have the feeling AMED was also a bit overvalued at it's high and the market has a way of correcting that, eventually.
No recommendation
Pull Back Fishing Down from a Symmetrical TriangleAMED missed earnings. Barely beat EPS and missed on revenue.
AMED has broken to the downside from a symmetrical triangle. I watch for the 5th touch in a triangle or a rectangle as in reality you need 5 touches for the pattern to be formed. 3 touches to one trendline and 2 to the other, but a security can remain in these patterns for more touches of the trendlines. Price came Down to start forming this triangle. Price did not break through the resistance of the top trendline on the 5th touch. Just clues and does not always turn out this way.
Both rectangles and all 3 triangles are consolidation patterns, as well as a flag I suppose. These patterns can break either way, up or down.
There was a Cypher pattern inside but earnings has crushed this pattern. I will be glad when earnings season is over )o:
The market may feel AMED was overvalued before this massacre, as the stock is being severely punished today.
The candle may change by close, but it is bearish to gap down and sometimes the candle it gaps down on can render clues on whether to buy the gap down. It is considered a plus to gap down on a doji or a spinning top, especially green ones. It can also be a plus if price closes near the top of the gap down.
No recommendation
AMED long AMED short. So what happens?Hi traders,
another portion of the analysis is coming up! Today´s winner is AMED. The only problem, you might have, is the Trading range that "holds" the price.
However, we are in a very nice rising channel and INSIDERS increased their positions . So in spite of being stuck in some range, I think we have a big chance to go up!
Will you join?
Good trading,
Jakub
FINEIGHT
AMED 50% gains in 60 days(STOCKS)before we kick start the update. your upvotes/subs are appreciated.
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So without further due. Keep it short/simple and to the point.
AMED 50% gains in 60 days(STOCKS)
IMPORTANT NOTE: this is speculative setup.
results not guaranteed. do your own due dill.
at all times please use a stop loss.
AMED 16hour chart. Bullish setup in progress,
reload point bulls near 160 USD.
TP bulls is 240 USD, which is a 50% gain in 60 days.
BUY/HOLD until TP.
SPECULATIVE SETUP. USE TIGHT SL.
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Amedisys $AMED#Amedisys has just broke out the top yesterday with good volume and likely will continue today.
AMED: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
AMED ShortShort based of channels and fibs
My Entry: 132.42 (any entry above this is fine)
Stop Loss: 135.50
PT: 125.50
Risk/Reward: 1:4.5
Amedisys has more room to runFundamentals :
Amedisys provides home health, and hospice and personal care services. The market Amedisys serves is expected to grow in the future. The company's earnings growth has averaged 46.3% over the past three years, while the industry has seen its bottom line increase at a far lesser rate of 3.2%. With the macro environment proving favorable for Amedisys, this trend is expected to sustain ahead.
Technicals :
Price is near all time highs, building a nice and narrow pattern. Price is above all key moving averages.
Trade and Risk management:
Break out of triangle will trigger an Entry Long around $54.30. Stop will be below $48.50 and respective target at $65
