Here’s the monthly chart I posted back when the $UA idea was discussed.
I pulled out a crayon and marked this sucker up just to illustrate the direction this stock is heading.
Naturally, I prefer to buy when a stock is trading lower in this context. Why? Better prices!
Per the discussion on “fake a move to make a move,” that context only applies on a move through balance. In this example, the last two weeks of prices are contained within their prior price swing from the beginning of November. Once that balance builds, and an attempt is made away from balance, then that term might apply with the context we use it.
Questions or comments, please feel free…
OA
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When you get the “love” pattern followed by the “butterfly” pattern and top it off with the “UA” pattern in a stock that has a symbol of UA, you know its a winner! Very rare. Nice work!
(that was a good one, OA! LOL LOL)
So thank you Piper for helping with better prices? 🙂
Exodus likes it here at this price point.
long $UA stock at $86.40
I picked up a single ATHM Jan 35 on this move. Looking for a move to 36.75 by then.
This market is pathetic.
Here’s to hoping this sentiment kick starts a move higher.
Don’t like to buy a downtrending stock when it breaks 200 day with volume. If it bounces off 84 I’ll take a closer look.
How does that help though when the last time it did that a few weeks ago, it ripped higher?
OA, could you explain what you mean by building balance and how you would recognize when a move is made through balance? I appreciate the help ahead of time.
The patterns we trade are a balance of price.
Ok I gotcha, thanks OA.