This is not a trade recommendation.
Analysis posted on request from a friend. Stock is long till it do not breach the lower parallel in blue colour or do not breach the last swing low. In updates you can find the logic from higher time frame to lower time frame, though it is not required when outlook is short term. In that case we can analyse and move from target to target. For long term investment outlook one can refer the weekly analysis posted below but stop loss must be secrosanct.
DISCLAIMER:
Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
Analysis posted on request from a friend. Stock is long till it do not breach the lower parallel in blue colour or do not breach the last swing low. In updates you can find the logic from higher time frame to lower time frame, though it is not required when outlook is short term. In that case we can analyse and move from target to target. For long term investment outlook one can refer the weekly analysis posted below but stop loss must be secrosanct.
DISCLAIMER:
Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
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Slope of prices is downward, but present swing structure can be termed as "TRY" to break the zone.
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On daily time frame prices are not going down to touch the red median line and taking resistance from upper parallel of pitchfork, this is sign of strength. Hagopian is also visible here.
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I am seeing these two posibilities.
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Can use this pitchfork lines for long term view
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Stock is not showing any sign of strength, in fact it is very week, below mentioned posibility can not be ruled out. if it breaches the lower parallel of pitchfork then it must go to first warning line.
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I hope the friend is making some money..!! oct 12 update was useful for him?