For you night owls out there, here is an updated monthly chart about a name I have been too early wrong on, in terms of topping out. Still, i maintain that Union Pacific is offering a terrible risk/reward long idea for anything more than a very quick trade (1-2 days tops, if at all). I expect a quality short to present itself soon, whenever the stock cracks for a mean reversion, if only a garden-variety basic pullback.
What say you about the big rail?
Speak your mind, night owls.
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Basic pullback to 185
interesting daily chart, double bearish candlestick patterns resulted in only a small pullback 5-6 days ago in which the comeback was on lighter volume, ChaikenMoneyFlow below the zero line, and an RSI of 61.3, ROC also signaling a weakness in the daily trend, yet the “yee olde MACD” is looking to “crosseth over” and pick up a bit more momentum. Weekly chart is overbought with signs of decreasing money flow & evidence of momentum stalling as it churns away.