Quiz- What would you do with this pattern?

 

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This chart looks at an asset that remains inside of 8-month rising channel (1). It had been weak of late, where it tested rising support at the start of this year.

This asset has “Doubled” the S&P 500 since the lows of 2009, reflecting that it remains a leader.

It looks to be testing the top of a potential bullish cup & handle pattern at (2).

What would you do with this opportunity?

Please feel free to share what you would do with this pattern by sending and email to Services@kimblechartingsolutions.com. If you would like to know what this asset is, send an email asking for the answer to the “1/17/18” Quiz. (thanks in advance for adding the letters ZH so we know where you saw this post)

 

 

 

Chart pattern analysis with brief commentary:   

There is a ton of news and opinions about markets and stocks that make the decision-making process more difficult than it needs to be.    

I believe the Power of the chart Pattern provides all you need to see what is taking place in an asset and determine the action to take.  

This approach has worked well for me and our clients and I encourage you to test it for yourself. 

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Comments

nmewn Thu, 01/18/2018 - 05:43 Permalink

Chart patterns are not guaranteed and not FDIC insured. As always, consult you financial planner before investing by dropping me an email at nmewn@gotcha.com and I'll put you on my Nigerian mailing list for Hot Picks 2018! ;-)

jmack Thu, 01/18/2018 - 07:32 Permalink

chart patterns are not all you need, you have to have the correct risk management system.

 

     If you are not using the chart to hold your winners to make a certain minimum amount to pay for your losers, you will go broke.  If you are risking too much initially, you will also go broke.  But the hard part is holding a winner for the 10x or 20x  gain that pays for the losers, and you absolutely have no chance if you cannot hold past a 1x or 2x winner, even having to watch it dissappear multiple times while waiting for the "real" move that will eventually deliver the 3x + profit.

razorthin Thu, 01/18/2018 - 07:43 Permalink

If you follow IBD, you would not do anything for a while.  You would wait for the "handle" that doesn't break the lower channel, then buy on high-volume breakout above the left edge of the "cup".  If you don't follow IBD but instead have IBD, you would short the shit out of this when it breaks the lower channel.