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A chart set up that popped out at me over my weekend work: EW (Edwards Lifesciences Corp), a company that develops and manufactures heart valves. My attached Daily Chart shows that since last November, EW has undergone a sharp correction from 82.55 (11/19/19) to 51.51 (3/23/20), and then from the March low has carved out a pattern that exhibits bullish form, and is putting upward pressure on an 8 month resistance line that if hurdled and sustained, will trigger targets of 100 to 110. Let's also notice that last Wed., Thurs.
Today we saw the market break out to new highs with the SPX up nearly 1.5% and over 50 points at the time of this writing. Furthermore, we broke out over the key micro resistance levels that I had noted yesterday that should have held if we were indeed going to see an immediate pullback for the wave C down back below the 3739 low. So with this move higher through the resistance levels noted it is now looking more probable that we have indeed bottomed in all of the green wave 2 and headed higher for the wave iii of 3.
Bookmark this chart, print it out, study it. Have fun with it. Tweak it and see how it applies on other things you trade/invest/watchIt's come to my attention that a small set of people are still delta negative/shorting/staying in bulk cash for past few months....I've given out many key lessons and free guides on how to ride the trainYou will save yourself a lot of time, angst, money if you just follow the trend and be objective.
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