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isosphere
2018년 1월 10일 오전 12시 54분

Rising Wedge on Valeant Pharma 

설명

My last idea described this as an ascending triangle, but I was batshit wrong. It's a rising wedge reversal pattern.

Key features:
  • A rising trend
  • Higher highs, higher lows. Looks inherently bullish
  • A contraction of volume
  • A decrease in momentum - the confidence in this rally is wavering


When we see that lower line break with high volume, it should move fast to the downside. I haven't put much work into where it'll fall if it does, but I think it'll be enough that a target of $26 will result in a profit.

There may be a rally following the reversal, which may be a good buying opportunity.

코멘트

Looking for the price to close below ~29.693 to trigger the breakout to the downside. If it does so convincingly, it might bounce back up but I think gravity will take it down soon after.

코멘트

It did it, and I'm seeing some bearish candlestick patterns, if you're into that. Evening star on the 4h chart, three black crows on the 1h.

매매 수동청산

Didn't drop quite as much as I expected, but it got darn close.
코멘트
mjgrier93
NOT TO BRAG
isosphere
@mjgrier93, totally to brag. :)
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