SWKS fell from a bearish rising wedge
Seems to be recovering but remains to be seen. SWKS has also pierced bottom trendline of a larger RW recently.
Rising wedges are usually bearish and a strong stock may not fall far at all. 35% is the norm fall from a bearish RW, some fall less, some fall the entire width
RWs can be a long term pattern and only valid if rice pierces bottom trendline. They take at least 3 weeks to form and are usually bearish.
A RW represents too much buying without healthy pull backs. Hence you will see areas where price never touches bottom trendline. It represents an imbalance in supply and demand
Strong stock/Broke from a Cup and Handle at 129
Possible stop under 139 when long entry level is met
Long after price has recovered/Short interest is low so that is a good thing
NV and OBV are both high Possible T2 174.5 to 184/My Focus is on making sure RW is not interfering and Targets one for now
Not a recommendation
Trade with caution
Seems to be recovering but remains to be seen. SWKS has also pierced bottom trendline of a larger RW recently.
Rising wedges are usually bearish and a strong stock may not fall far at all. 35% is the norm fall from a bearish RW, some fall less, some fall the entire width
RWs can be a long term pattern and only valid if rice pierces bottom trendline. They take at least 3 weeks to form and are usually bearish.
A RW represents too much buying without healthy pull backs. Hence you will see areas where price never touches bottom trendline. It represents an imbalance in supply and demand
Strong stock/Broke from a Cup and Handle at 129
Possible stop under 139 when long entry level is met
Long after price has recovered/Short interest is low so that is a good thing
NV and OBV are both high Possible T2 174.5 to 184/My Focus is on making sure RW is not interfering and Targets one for now
Not a recommendation
Trade with caution
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.