This Week's Price Patterns

Here are a few other patterns we discussed in the Price Pattern class this morning. To those who joined, thanks for the great Q&A. Add these symbols to your watchlists and wait for the signals that we discussed on each of them.

WBSN- Bull Flag Pattern. 3$ price target

CHRW- Descending Triangle. $7 price target

ODFL- Descending Triangle. 4-5$ price target

CDWC- Bull Flag. $6 price target

ATPG- Descending Triangle. $7 Price target

TRN- Descending Triangle. $10 price target?

Jeff, FYI ODFL is non-optionable, but it looks like TRN and perhaps SPG (an earlier pick of yours) are might be giving buy signals today.

Great tip! These trades don't have to be option specific, but thanks for the heads-up.

Also, BNI appears to have a flag-type breakout today. It has reversed its trend recently, and i feel offers a great entry point.

ANDE - Descending Triangle with $10-$14 price target. It broke out in the last couple of days and looks like its working out nicely so far.

COG - Broadening Top Formation. You may want to use a 2 year or 5 year chart. Its a "Megaphone" type formation. I dont see these often bit I thought I would share for educational purposes. Do you agree Jeff ?

Jeff, did you happen to catch the breakout today on the JCP ascending triangle? Took a few months to form but looks like a 7 dollar move potential on a 70 dollar stock which meets your 10% rule.

Correction on ANDE, I meant to say $10-14 price move not price target.

John

Ebay looks like an ascending triangle breakout today... or do I just want to see that?

tough to call EBAY an ascending triangle breakout since there was no prior uptrend, and ascending triangles are continuation patterns. I'd definitely call it a breakout, and there's definitely a trend change prior to it.

I'd disagree Brett. There appears to be a nice intermediate uptrend, which is a qualifier for this trade. Ebay has been moving higher for the last couple months, so I think you're on to something Ab.

Post a Comment
...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT... ...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...

About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
My profile

Prescriptions Here!

Other stuff

Blogarama - 
The Blog Directory
Directory of 
Finance/Business Blogs Finance 
blogs Top Blogs Finance Blogs - BlogCatalog Blog Directory