STOCKS:
7:48EST
CVX:
Well I was wrong on the buy level for CVX, I had 116.66 as a nibble (never took it) and had it reaching 113.00 (it never did) and consequently it ran up on me, happens; none the less 128.74 is the bottom pattern (also from 6/24) up price target and it reached 127.83 and put in a immediate top pattern of which 123.77 is the down price target and 2 days ago it reached 125.19 and as such 126.14 and 126.81 are the immediate resistance pivots of the pattern
CHK:
Confirmation of a break-out to the upside (27.50) although beforehand it could get tricky meaning the bottom pattern from 6/24 up price target is 23.56 and yesterday it reached 23.54 – still early but most often upon a major break-out like this the immediate reaction is a retest of the break-out, but not 23.56 opens the door for a steep decline down to 21.24/44
COMMENTS:
Not reaching up price target for a bottom pattern is extremely bearish although patience is warranted before any viable failure (red flag) calls
Edited by kd44, 01 August 2013 - 06:48 AM.