As you can see from the daily candle chart above, Visa is forming a very nice Head & Shoulders Top. The highest probability for profit begins when the stock breaks down below the neckline, however, we are jumping ahead of this point because it looks as though the stock is making a move to test the neckline below.
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Equity Oracle: 09/04/14
It is becoming more difficult to find new buy candidates as the market continues to move higher. We don’t want to overload our accounts with long positions because it just adds to the risk and a market correction/selloff would do more harm than good if we don’t do something to protect ourselves at this point.
Equity Oracle: 08/28/14
Last week an alert went out to buy PFIE on a breakout from the Cup & Handle Pattern. As you can see from the daily candle chart (above) the stock rallied exactly like we thought it would, however, yesterday a bearish engulfing pattern showed up at a resistance point. 80% of the time a stock will drop after a […]
Equity Oracle: 08/21/14
There are many different types of price patterns, but the Cup & Handle Pattern is one of the most reliable around. It’s a simple pattern that’s easy to recognize and many traders look for it as an opportunity to make a profit. The key to success is patience. In other words, you have to wait for the breakout to […]
Equity Oracle: 08/14/14
We have traded Barrack Gold in the past with good success. The stock follows the technical signals like a charm and I see no reason why we wouldn’t see a rally above the rim of the Cup & Handle. The Cup and Handle pattern is one of the most reliable price patterns around and many […]
Equity Oracle: 08/06/14
Two weeks ago I sent out an alert to buy Sprint with a $2 risk per share set on the trade. Since then the stock has dropped on news that Sprint Corp. was abandoning its pursuit of T-Mobile US. Above you will see where I’ve marked the chart where the news was first released that Sprint was putting plans […]