Pennants have extremely low failure rates. They say patterns with Bulkowski says they work best when they have long flag poles resulting from a sharp change in price. I'm not sure what the lack of a pole signifies. Please leave a comment if you have any information on tight pennants with no poles.
Tesla 1.42% was in a classic bump and run that was confirmed last week. Those of us that saw the warning signals were able to go short early. Tesla's two gaps signaling a reversal were on strong volume and signal a continuation of this new down trend. They should not close easily. A pennant seems to be forming which would be an other strong indication of a...
Tesla was in a classic bump and run that was confirmed last week. Those of us that saw the warning signals were able to go short early. Tesla's two gaps signaling a reversal were on strong volume and signal a continuation of this new down trend. They should not close easily. A pennant seems to be forming which would be an other strong indication of a continuation...
This is a textbook bump and run set up. I would be very surprised this stock didn't at least test the confirmation line. Playing a conservative Bear call spread until formation is confirmed then it'll be time to buy some puts. Good luck!
This is a textbook bump and run set up. I would be very surprised this stock didn't at least test the confirmation line. Playing a conservative Bear call spread until formation is confirmed then it'll be time to buy some puts. Good luck!
P.S. The QQQ chart looks just as scary
