@Bodacious, so what are you going to do about SPWR? Doesn't look like it wants to test 12.07. Once under 12.79 the supply dried up. I'm thinking about a stop at 12.49 for risk of 13.19 - 12.49 = 70 cents. 65-min bars:
I'm circling airport in a holding pattern......Where's the volume at? Solar is a hot sector right now and judging by volume nobody is interested, so I gotta wait and see, but that's alright, FOMO has never influenced my decisions, as there is always another deal right around the corner.
I went for it. Bot SPWR near the close at 13.15. If it is going to work it will need to get out of the danger zone in the next couple days. My stop will be tight. 65-minute (~hourly) bars:
It would be a complete shock to me if it didn't take some time to build more cause for the next leg. We're talking about a move that originated from the 5's and hit the 16's.
Yeah, I agree, but I like the setup for a short term play...maybe even a retest of the BC...that would be more than expected. But then maybe I'm just being reckless.
@Onepoint272 Check out that high and tight consolidation along the prior sell climax in $TNDM in 2016. Hinge-worthy?
Does TNDM have any skeletons in the closet, any loose lug nuts? I don't get it, they appear to be just another diabetes device distributor but they lose money. Do they have some game changer waiting to come out of the back room?
TNDM hurts me. Bought on the 14th of August at $60.41. Stopped out on the 15th of August at like $57.80 which it barely hit. Currently ~$70. Guess my stop was slightly too tight but my idea correct
Definitely too tight given that gap fill down to $51. Notice the candles I circled on the chart - the first candle shows the selling being absorbed, but TNDM followed it up with another down week on lower volume. Just an observation, but a lot of times that's a fakeout lower and then they jam the shorts. Sort've a mini-"secondary test" or "no supply" if you will.
@OldFart Remember that little "no supply" example I showed you with the candle/volume pattern on $TNDM? Looks like I have the same one here with $FMC. It's consolidated nicely during this volatility. PnF targets remains $151.
For hitting $151? Wish I knew how to anticipate that LOL. It's got a BETA of 1.5 ..... so it's not exactly a sloth of a mover, but it's also not extremely volatile.
I do have some "theories" on how to predict the time element - particularly with the setups showing positive divergence i.e. secondary testing. Perhaps I need to dust that off a bit.
Wouldn't that be nice LOL. Ya all my long termers with lofty PnF targets (FMC, PEGA, CTLT, and QSR) all held pretty nicely given the market turmoil. In fact QSR just broke out above last months highs today. I feel like an idiot punking out of it a couple weeks ago. Headline news about insider selling and market volatility spooked me. Quick reminder why we shouldn't be taking the bait with news reports. Stay loyal to the chart analysis.
