Quiz- What would you do with this opportunity?

Below looks at an asset that has been hit very hard over the past few years. Could it be presenting an opportunity?

CLICK ON CHART TO ENLARGE

This asset is testing the top of a three-year trading range and testing 10-year falling resistance at (1).

What would you do with this opportunity?

If you would like to know what this potential opportunity is, send us an email to services@kimblechartingsolutions.com and we will send you the answer to this chart later in the week. We shared this opportunity with Premium and SectorMembers last week and have established a game plan for this asset.

 

Why do you see very few comments?  Because the Power of the Pattern provides all you need to see what is taking place in an asset and determine the action to take

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Comments

Arnold Mon, 10/23/2017 - 14:51 Permalink

It is an equity that has not been inflating it's shareholder value by making it's shares scarce.

Probably doesn't pay an inflated dividend, by borrowing at zero to pay that dividend.
Prolly still uses GAAP accountants.
No lobbyists to speak of, and reinvests in capex.
Took the big hit in 2009 and 20011 and recovered price a bit.
Probable PE of 11 to 15.
No strong market or product breakthrough, strong legacy sales or brands,maybe.

Ben A Drill Mon, 10/23/2017 - 15:41 Permalink

Looks like a gold miner or junior gold miner ETF or a chart of the HUI.

I forgot to answer the question: What would I do.

I would double down on the exact guns and ammo that I already have. Yes, buy two of everything I already have, just for backup or parts.

Conax Mon, 10/23/2017 - 16:11 Permalink

I think it's a barrel of crude.What do I win?  Send the cash toConax the Chimerical1313 Mockingbird LaneGofugyoseff, Indiana, BR549.

Iconoclast421 Mon, 10/23/2017 - 16:13 Permalink

Until it actually breaks past that trendline, its bearish. Because it has not made a lower low, I wouldnt even bother shorting it. I'd just stay away from it.

kimblecharting Iconoclast421 Tue, 10/24/2017 - 09:59 Permalink

Fine observation Iconoclast...and you answered the question correctly by focusing on the pattern and sharing what you would do instead of guessing at the asset, which is not the point here.  If you would like the chart of the asset we sent to our paid subscribers, send an email to services@kimblechartingsolutions.com and I'll forward to you (you will not be added to any email list either).thanks for giving this a look Rick Bertino, Kimble Charting Solutions

In reply to by Iconoclast421

Mazzy Mon, 10/23/2017 - 17:20 Permalink

The word "opportunity" is itself biased language geared to steer the test taker in a certain direction.Better word choice would've been something neutral like "situation" or "present dynamic".