Triangle or Pennant Breakout | Andrew Aponas

9. Dez. 2017

I analyzed TGT from the Monthly-Daily. From what I can tell it looks like TGT just sold off in a strong bearish down trend on the weekly chart, however price may now be entering a period of accumulation by the insiders. The Blue sideways moving channel is drawn from the weekly and the grey upward moving channel is for the current price action.I have also drawn a test ceiling and supply and demand lines from the monthly. The demand line is drawn exactly where the top of the weekly channel is. I have a bullish breakpoint already drawn on the chart which has signaled an entry to buy, however price is consolidating in a small pennant or triangle, confirmed by the declining volume. I also took note of the last major price waterfall which could have been the insiders buying into the markets selling, thus accumulating their position. It is difficult to conclude where price may breakout to, in the past it has reversed bearish at this ceiling; and the market may be overbought. Price has already diverged from the breakpoint signal, and the indicators (fast) are all overbought calculations. I will stay neutral and wait for confirmation of the direction of the breakout, which will be from the indicators and volume. Thank You, God Bless.

Aroon I have set at a faster speed and found both lines descending in uniform confirming this period of consolidation, the first line that breaks the 50% line will be one signal of the direction of the breakout.
MACD I have set at a faster speed and can see this may be a good pivot point for a reversal however the histogram is still bullish and has the potential to remain above the 0 line and the lines are threading together which in my experience signals price is still in a trend, which means the bullish trend may still be my friend.
Stoch. I have set at a faster speed and have noted that price is in an uptrend threading since 11/15 and has not confirmed that the plot below overbought is signaling to sell. This also may suggest the bullish trend is still my friend.

https://finance.yahoo.com/news/optimist-pessimist-don-apos-t-203108335.html
https://finance.yahoo.com/news/optimist-pessimist-don-apos-t-203108335.html
https://finance.yahoo.com/news/target-corporation-stock-still-more-151320622.html
http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=tgt
http://www.stock2own.com/StockAnalysis/Stock/US/TGT?w=1903
http://www.opiniontrade.com/stock.html?top-search=tgt
https://www.predictwallstreet.com/PredictNow.aspx?symbol=tgt