CWK with multiple clean and clear tests of resistance. Nice full body candle breakout over the resistance area, with confirmation follow through. Lets see how it unfolds.
3+ tests of resistance area
20 EMA above 40 EMA
50 MA above 150 MA
Full body breakout candle above resistance
2 Momentum indicators showing bullish confirmation
We have a failed breakout. Now one thing to understand is the overall markets sold off hard.
VECO had several clear tests of a horizontal resistance area. We got a nice breakout above resistance, and are setting up nicely for a nice breakout. There is another element to this particular chart which I like and tend to find reliable in terms of price targets, and that is the gap down area. VECO had a solid gap down in August. Often when prices breakout into the gap area they will fill the gap area or trade back up to the price it gapped down from. So we will watch and see how it unfolds.
And that is a classic gap fill. Stock broke out right to the top of the gap. Thats it for that trade.
EXR just broke out of resistance. First chart is the daily time frame and the second chart is the weekly chart.
WING has just given us a breakout candle above horizontal resistance. We will wait for follow through tomorrow to signal an entry. WING was on my Watchlist and has been bumped to the Breakout section.
20EMA above 40EMA
50MA above 150MA
Multiple tests of Horizontal Resistance
2 Momentum Indicators showing bullish confirmation
Let’s see what happens tomorrow.
Great breakout. Had a break down but held the horizontal resistance area, only to breakout again and move even higher. Classic breakout play, beautiful looking chart.
IRDM broke out of resistance Friday and is following through strongly today. Maybe a little over extended but strong volume is on our side. 50MA just crossed the 150MA which is also a strong bullish signal, not one I personally trade on it’s own but when paired with my breakout criteria it is a bonus.
20EMA above 40EMA
50MA above 150MA
Multiple tests of Horizontal Resistance
2 Momentum Indicators showing bullish confirmation
Bullish Moving Average Crossover
High Volume
Follow Through of Breakout Candle
Let’s see how the trade turns out.
Classic breakout. All requirements in place before hand. Great breakout.
