![]() It is certainly not meant to be investment advice. This research is meant to educate investors on probabilities based on chart analysis. The really bearish case kicks in once 120 results in a breakdown in which case the lowest support point might get hit: ~99.Ī rise above 180 will lead to the bullish case, and any of the above points will become invalid. If its stock price would break down we see as a first projected downside target ~120. This is also quite unusual, and requires a high level of attention. The weekly chart of Burlington store is interesting to say the least.īurlington’s stock price seems to be consolidating and setting a major rounding top formation right above the rising wedge. ![]() Again, we are not forecasting this bearish scenario, we are indicating that it will become a high probability if and once a breakdown takes place.ĭiscount retail stocks: Burlingtone Store (symbol BURL) For the former to occur, the market would have to take out the most recent swing high. Market could either aim to test the old high of 1415 before coming back down, or go straight down from here to test the previous low of 1267. In such a scenario COST may fall towards ~110. Making a great effort to rise, giving rise to a wedge-shaped pattern. The bearish story kicks in once the above mentioned support area gives way to a breakdown. In case of a retracement we see COST falling to its first downside support zone which comes in around 155 – 182. However, given the point we made in the introduction we believe we might we see a retracement and/or consolidation. The strong rise of COST looks awesome, and set to continue. a breakdown below its rising channel).ĭiscount retail stocks: Costco Wholesale (symbol COST) Note that this is not a forecast but rather a result of a potential future event (i.e. The bearish side: If 67 would not hold it may become really nasty for OLLI as a breakdown would bring this stock towards ~46.8. ![]() They likely will rebound to the 75 – 80 area before continuing their dive to the neckline level of 67. Should this head & shoulder effectively materialize we forecast prices to stop falling in the 65 – 67 area. The chart of OLLI shows a potential head & shoulders formation which is currently in the making. Discount retail stocks: Ollies Bargain Outlet (symbol OLLI) Forbes may be positive on some specific retails stocks as outlined here but discount retail stocks are still a different subset with their own dynamics. Moreover, it is pretty easy to confuse discount retail stocks with the general category of retail stocks. Our job is to interpret data points and project as good as we can into the future. Note that we do not recommend buying or selling any of these 3 discount retail stocks, nor do we have an preference for or against any of them. If you're looking for a reputable brokerage that covers all products (SG stocks, US stocks, global stocks, bonds, ETFs, REITs, forex, futures, crypto) and has one of the lowest commissions, this is what I currently use.This article is primarily focused on chart analysis, much less on fundamental analysis. If you're looking for the best trading opportunities every day across various markets, and don't want to spend hours doing the research yourself, check out our private Telegram channel! Our flagship mentoring program is suitable for both beginners and advanced traders, covering the 4 strategies which I used over the past 15 years to build up my 7-figure personal trading portfolio. Market could either aim to test the old high of 1415 before coming back down, or go straight down from here to test the previous low of 1267.įor the former to occur, the market would have to take out the most recent swing high. Let’s see which plays out. Making a great effort to rise, giving rise to a wedge-shaped pattern. ![]() Join our Telegram channel (50,000+ subscribers) for daily market analysis & trading tips: t.me/synapsetrading
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