Sentences with phrase «valid chart pattern»
Instead, I frequently made the crucial mistake of immediately buying these stocks, right after determining the presence of a valid chart pattern, for fear of potentially missing a big rally.
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Putting it all together, this chart of LinkedIn ($ LNKD) shows a valid cup and handle chart pattern, based on the technical criteria above:
Starting with the monthly chart, the double bottom pattern and subsequent, big - volume rally in May and June are two valid technical signs that a significant bottom has formed:
The lack of substantial bullish follow - through in leading individual stocks in recent weeks, the absence of leadership in most ETFs (other than international ETFs), and the bearish pattern on the weekly chart of the S&P 500 Index (below) are all valid reasons to avoid the long side of the market now.