As of 05/10/2024   Indus: 39,513 +125.08 +0.3%     Trans: 15,597 +84.96 +0.5%     Utils: 942 -0.84 -0.1%     Nasdaq: 16,341 -5.39 0.0%     S&P 500: 5,223 +8.60 +0.2%	YTD  +4.8%   -1.9%    +6.9%    +8.9%    +9.5%	Targets    Overview: 04/29/2024     39,950 or 38,500 by 06/01/2024   15,820 or 14,600 by 05/15/2024   960 or 900 by 06/01/2024   16,700 or 15,200 by 05/15/2024   5,250 or 4,850 by 05/15/2024
Chart Pattern Indicator: on 5/1/24

As of 05/10/2024   Indus: 39,513 +125.08 +0.3%     Trans: 15,597 +84.96 +0.5%     Utils: 942 -0.84 -0.1%     Nasdaq: 16,341 -5.39 0.0%     S&P 500: 5,223 +8.60 +0.2%	YTD  +4.8%   -1.9%    +6.9%    +8.9%    +9.5%
Targets    Overview: 04/29/2024     39,950 or 38,500 by 06/01/2024   15,820 or 14,600 by 05/15/2024   960 or 900 by 06/01/2024   16,700 or 15,200 by 05/15/2024   5,250 or 4,850 by 05/15/2024
Chart Pattern Indicator: on 5/1/24

Patterns for the Weekend Details

Copyright © 2024 by Thomas Bulkowski and ThePatternSite.com. All rights reserved.

Weekly screen for chart patterns found in the last week. Many may be still in development. If no securities appear, then I have not identified any new patterns.

Industry: Electronics

Industry RS rank: 39 out of 60

Stock RS rank: 549 out of 623

2/15/24 close: $5.75

1 Month avg volatility: $0.26. Volatility stop (for upward breakout): $4.96 or 13.7% below the close.

Change YTD: -9.45%

Volume: 1,742,500 shares. 3 month avg: 3,031,971 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Monday.

 

Chart pattern: Pipe bottom reversal pattern from 01/29/2024 to 02/05/2024

Breakout is upward 100% of the time.

Average rise: 45%.

Break-even failure rate: 5%.

Throwbacks occur 44% of the time.

Price hits measure rule target 83% of the time.

Industry: Petroleum (Producing)

Industry RS rank: 45 out of 60

Stock RS rank: 605 out of 623

2/15/24 close: $31.25

1 Month avg volatility: $0.82. Volatility stop (for upward breakout): $28.32 or 9.4% below the close.

Change YTD: -12.90%

Volume: 6,700,400 shares. 3 month avg: 7,966,826 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 02/05/2024 to 02/13/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Chemical (Specialty)

Industry RS rank: 21 out of 60

Stock RS rank: 306 out of 623

2/15/24 close: $39.49

1 Month avg volatility: $0.94. Volatility stop (for upward breakout): $36.63 or 7.3% below the close.

Change YTD: -5.00%

Volume: 694,200 shares. 3 month avg: 523,769 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Friday.

 

Chart pattern: Double Bottom, Adam and Eve reversal pattern from 01/18/2024 to 02/05/2024

Breakout is upward 100% of the time.

Average rise: 37%.

Break-even failure rate: 5%.

Throwbacks occur 59% of the time.

Price hits measure rule target 66% of the time.

Industry: Precision Instrument

Industry RS rank: 36 out of 60

Stock RS rank: 478 out of 623

2/15/24 close: $156.10

1 Month avg volatility: $3.63. Volatility stop (for upward breakout): $146.78 or 6.0% below the close.

Change YTD: 1.12%

Volume: 203,200 shares. 3 month avg: 149,246 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Friday.

 

Chart pattern: Double Bottom, Adam and Eve reversal pattern from 01/26/2024 to 02/06/2024

Breakout is upward 100% of the time.

Average rise: 37%.

Break-even failure rate: 5%.

Throwbacks occur 59% of the time.

Price hits measure rule target 66% of the time.

Industry: Retail Building Supply

Industry RS rank: 24 out of 60

Stock RS rank: 311 out of 623

2/15/24 close: $87.59

1 Month avg volatility: $2.16. Volatility stop (for upward breakout): $82.22 or 6.1% below the close.

Change YTD: 0.66%

Volume: 416,700 shares. 3 month avg: 811,195 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Double Bottom, Eve and Eve reversal pattern from 01/24/2024 to 02/02/2024

Breakout is upward 100% of the time.

Average rise: 40%.

Break-even failure rate: 4%.

Throwbacks occur 55% of the time.

Price hits measure rule target 67% of the time.

Industry: Retail Store

Industry RS rank: 15 out of 60

Stock RS rank: 617 out of 623

2/15/24 close: $4.43

1 Month avg volatility: $0.48. Volatility stop (for downward breakout): $6.02 or 35.9% above the close.

Change YTD: -43.13%

Volume: 5,761,900 shares. 3 month avg: 984,457 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Monday.

 

Chart pattern: Dead-cat bounce continuation pattern from 02/12/2024 to 02/12/2024

Breakout is downward 67% of the time.

Average decline: 18%.

Industry: Precision Instrument

Industry RS rank: 36 out of 60

Stock RS rank: 141 out of 623

2/15/24 close: $80.10

1 Month avg volatility: $2.01. Volatility stop (for upward breakout): $74.48 or 7.0% below the close.

Change YTD: 9.01%

Volume: 830,700 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Tuesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Triple bottom reversal pattern from 01/03/2024 to 02/12/2024

Breakout is upward 100% of the time.

Average rise: 37%.

Break-even failure rate: 4%.

Throwbacks occur 64% of the time.

Price hits measure rule target 64% of the time.

Industry: Medical Services

Industry RS rank: 47 out of 60

Stock RS rank: 143 out of 623

2/15/24 close: $78.30

1 Month avg volatility: $1.67. Volatility stop (for upward breakout): $74.30 or 5.1% below the close.

Change YTD: 5.51%

Volume: 1,899,300 shares. 3 month avg: 1,816,006 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Tuesday, and best sell day (most up closes) is Wednesday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 01/25/2024 to 02/06/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Precision Instrument

Industry RS rank: 36 out of 60

Stock RS rank: 578 out of 623

2/15/24 close: $38.51

1 Month avg volatility: $1.12. Volatility stop (for upward breakout): $34.06 or 11.6% below the close.

Change YTD: -7.74%

Volume: 4,538,200 shares. 3 month avg: 1,157,365 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 02/06/2024 to 02/13/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Petroleum (Producing)

Industry RS rank: 45 out of 60

Stock RS rank: 148 out of 623

2/15/24 close: $178.52

1 Month avg volatility: $3.63. Volatility stop (for upward breakout): $163.02 or 8.7% below the close.

Change YTD: 15.11%

Volume: 3,653,500 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Double Bottom, Eve and Adam reversal pattern from 01/18/2024 to 02/05/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 4%.

Throwbacks occur 57% of the time.

Price hits measure rule target 66% of the time.

Industry: Retail Store

Industry RS rank: 15 out of 60

Stock RS rank: 139 out of 623

2/15/24 close: $423.64

1 Month avg volatility: $10.97. Volatility stop (for upward breakout): $384.02 or 9.4% below the close.

Change YTD: 4.95%

Volume: 101,200 shares. 3 month avg: 658,302 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.

 

Chart pattern: Triple bottom reversal pattern from 01/05/2024 to 02/07/2024

Breakout is upward 100% of the time.

Average rise: 37%.

Break-even failure rate: 4%.

Throwbacks occur 64% of the time.

Price hits measure rule target 64% of the time.

Industry: Chemical (Diversified)

Industry RS rank: 58 out of 60

Stock RS rank: 349 out of 623

2/15/24 close: $85.25

1 Month avg volatility: $1.63. Volatility stop (for upward breakout): $80.12 or 6.0% below the close.

Change YTD: -5.09%

Volume: 853,900 shares. 3 month avg: 1,209,300 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 02/02/2024 to 02/13/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Electric Utility (East)

Industry RS rank: 51 out of 60

Stock RS rank: 381 out of 623

2/15/24 close: $37.30

1 Month avg volatility: $0.68. Volatility stop (for upward breakout): $35.56 or 4.7% below the close.

Change YTD: 1.75%

Volume: 3,930,100 shares. 3 month avg: 4,155,280 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Double Bottom, Adam and Eve reversal pattern from 01/25/2024 to 02/08/2024

Breakout is upward 100% of the time.

Average rise: 37%.

Break-even failure rate: 5%.

Throwbacks occur 59% of the time.

Price hits measure rule target 66% of the time.

Industry: Apparel

Industry RS rank: 1 out of 60

Stock RS rank: 586 out of 623

2/15/24 close: $4.34

1 Month avg volatility: $0.22. Volatility stop (for downward breakout): $5.36 or 23.5% above the close.

Change YTD: -2.69%

Volume: 18,201,600 shares. 3 month avg: 6,164,918 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Broadening top reversal pattern from 01/29/2024 to 02/15/2024

Breakout is downward 50% of the time.

Average decline: 15%.

Break-even failure rate: 18%.

Pullbacks occur 48% of the time.

Price hits measure rule target 37% of the time.

Industry: Building Materials

WARNING: This industry is within the top 7 that Dead-cat bounce often.

Industry RS rank: 12 out of 60

Stock RS rank: 200 out of 623

2/15/24 close: $36.11

1 Month avg volatility: $1.04. Volatility stop (for upward breakout): $33.19 or 8.1% below the close.

Change YTD: -5.69%

Volume: 91,200 shares. 3 month avg: 163,711 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Pipe bottom reversal pattern from 01/16/2024 to 01/22/2024

Breakout is upward 100% of the time.

Average rise: 45%.

Break-even failure rate: 5%.

Throwbacks occur 44% of the time.

Price hits measure rule target 83% of the time.

Industry: Advertising

Industry RS rank: 29 out of 60

Stock RS rank: 414 out of 623

2/15/24 close: $32.40

1 Month avg volatility: $0.69. Volatility stop (for upward breakout): $30.46 or 6.0% below the close.

Change YTD: -0.74%

Volume: 3,406,900 shares. 3 month avg: 6,516,800 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Friday.

 

Chart pattern: Broadening top, right-angled and descending continuation pattern from 12/18/2023 to 02/09/2024

Breakout is upward 51% of the time.

Average rise: 28%.

Break-even failure rate: 19%.

Throwbacks occur 52% of the time.

Price hits measure rule target 63% of the time.

Industry: Retail Building Supply

Industry RS rank: 24 out of 60

Stock RS rank: 386 out of 623

2/15/24 close: $228.33

1 Month avg volatility: $4.38. Volatility stop (for upward breakout): $217.63 or 4.7% below the close.

Change YTD: 2.60%

Volume: 1,658,100 shares. 3 month avg: 6,401,252 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Tuesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Double Bottom, Adam and Eve reversal pattern from 01/05/2024 to 01/25/2024

Breakout is upward 100% of the time.

Average rise: 37%.

Break-even failure rate: 5%.

Throwbacks occur 59% of the time.

Price hits measure rule target 66% of the time.

Industry: Financial Services

Industry RS rank: 16 out of 60

Stock RS rank: 173 out of 623

2/15/24 close: $471.28

1 Month avg volatility: $5.60. Volatility stop (for upward breakout): $454.02 or 3.7% below the close.

Change YTD: 10.50%

Volume: 2,353,700 shares. 3 month avg: 2,793,240 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Pennant continuation pattern from 02/01/2024 to 02/12/2024

Breakout is upward 61% of the time.

Average rise: 25%.

Break-even failure rate: 2%.

Throwbacks occur 47% of the time.

Price hits measure rule target 60% of the time.

Industry: Medical Supplies

Industry RS rank: 46 out of 60

Stock RS rank: 369 out of 623

2/15/24 close: $84.72

1 Month avg volatility: $1.29. Volatility stop (for downward breakout): $87.59 or 3.4% above the close.

Change YTD: 2.84%

Volume: 4,726,000 shares. 3 month avg: 5,761,640 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Double Top, Adam and Adam reversal pattern from 01/12/2024 to 01/31/2024

Breakout is downward 100% of the time.

Average decline: 19%.

Break-even failure rate: 8%.

Pullbacks occur 61% of the time.

Price hits measure rule target 72% of the time.

Industry: Metal Fabricating

Industry RS rank: 41 out of 60

Stock RS rank: 66 out of 623

2/15/24 close: $50.58

1 Month avg volatility: $1.22. Volatility stop (for upward breakout): $46.54 or 8.0% below the close.

Change YTD: 7.27%

Volume: 732,100 shares. 3 month avg: 161,678 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Friday.

 

Chart pattern: Scallop, ascending continuation pattern from 12/27/2023 to 01/30/2024

Breakout is upward 80% of the time.

Average rise: 31%.

Break-even failure rate: 10%.

Throwbacks occur 58% of the time.

Price hits measure rule target 58% of the time.

Industry: Toiletries/Cosmetics

Industry RS rank: 50 out of 60

Stock RS rank: 616 out of 623

2/15/24 close: $13.82

1 Month avg volatility: $0.59. Volatility stop (for downward breakout): $15.78 or 14.2% above the close.

Change YTD: -28.84%

Volume: 2,932,600 shares. 3 month avg: 417,486 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Dead-cat bounce continuation pattern from 02/15/2024 to 02/15/2024

Breakout is downward 67% of the time.

Average decline: 18%.

Industry: Insurance (Prop/Casualty)

Industry RS rank: 19 out of 60

Stock RS rank: 335 out of 623

2/15/24 close: $29.06

1 Month avg volatility: $0.53. Volatility stop (for upward breakout): $27.82 or 4.3% below the close.

Change YTD: -1.16%

Volume: 1,759,300 shares. 3 month avg: 1,253,378 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Double Bottom, Adam and Eve reversal pattern from 01/25/2024 to 02/08/2024

Breakout is upward 100% of the time.

Average rise: 37%.

Break-even failure rate: 5%.

Throwbacks occur 59% of the time.

Price hits measure rule target 66% of the time.

Industry: Medical Supplies

Industry RS rank: 46 out of 60

Stock RS rank: 243 out of 623

2/15/24 close: $21.49

1 Month avg volatility: $0.76. Volatility stop (for upward breakout): $19.74 or 8.2% below the close.

Change YTD: 11.52%

Volume: 549,100 shares. 3 month avg: 1,209,165 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Monday.

 

Chart pattern: Head-and-shoulders bottom reversal pattern from 01/03/2024 to 02/05/2024

Breakout is upward 100% of the time.

Average rise: 38%.

Break-even failure rate: 3%.

Throwbacks occur 45% of the time.

Price hits measure rule target 74% of the time.

Industry: Oilfield Svcs/Equipment

Industry RS rank: 59 out of 60

Stock RS rank: 585 out of 623

2/15/24 close: $11.75

1 Month avg volatility: $0.41. Volatility stop (for upward breakout): $10.15 or 13.6% below the close.

Change YTD: 8.80%

Volume: 13,340,500 shares. 3 month avg: 3,925,269 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Wednesday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 02/05/2024 to 02/13/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Medical Supplies

Industry RS rank: 46 out of 60

Stock RS rank: 322 out of 623

2/15/24 close: $273.15

1 Month avg volatility: $7.03. Volatility stop (for upward breakout): $256.09 or 6.3% below the close.

Change YTD: 8.59%

Volume: 237,700 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Wednesday.

 

Chart pattern: Scallop, ascending continuation pattern from 01/16/2024 to 02/09/2024

Breakout is upward 80% of the time.

Average rise: 31%.

Break-even failure rate: 10%.

Throwbacks occur 58% of the time.

Price hits measure rule target 58% of the time.

Industry: Oilfield Svcs/Equipment

Industry RS rank: 59 out of 60

Stock RS rank: 517 out of 623

2/15/24 close: $7.32

1 Month avg volatility: $0.26. Volatility stop (for upward breakout): $6.41 or 12.5% below the close.

Change YTD: 0.55%

Volume: 1,576,500 shares. 3 month avg: 1,275,503 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Monday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 02/05/2024 to 02/13/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Insurance (Prop/Casualty)

Industry RS rank: 19 out of 60

Stock RS rank: 352 out of 623

2/15/24 close: $105.49

1 Month avg volatility: $2.39. Volatility stop (for upward breakout): $98.88 or 6.3% below the close.

Change YTD: 6.04%

Volume: 247,900 shares. 3 month avg: 158,554 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 02/01/2024 to 02/08/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Natural Gas (Distributor)

Industry RS rank: 54 out of 60

Stock RS rank: 396 out of 623

2/15/24 close: $60.03

1 Month avg volatility: $1.34. Volatility stop (for upward breakout): $56.09 or 6.6% below the close.

Change YTD: -3.71%

Volume: 533,300 shares. 3 month avg: 172,872 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Head-and-shoulders bottom reversal pattern from 01/18/2024 to 02/13/2024

Breakout is upward 100% of the time.

Average rise: 38%.

Break-even failure rate: 3%.

Throwbacks occur 45% of the time.

Price hits measure rule target 74% of the time.

Industry: E-Commerce

Industry RS rank: 5 out of 60

Stock RS rank: 208 out of 623

2/15/24 close: $196.67

1 Month avg volatility: $6.51. Volatility stop (for upward breakout): $180.41 or 8.3% below the close.

Change YTD: 1.46%

Volume: 140,800 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Tuesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 01/05/2024 to 02/01/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

Industry: Furn/Home Furnishings

Industry RS rank: 3 out of 60

Stock RS rank: 19 out of 623

2/15/24 close: $13.54

1 Month avg volatility: $0.31. Volatility stop (for upward breakout): $12.58 or 7.1% below the close.

Change YTD: 0.15%

Volume: 610,400 shares. 3 month avg: 708,518 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Monday.

 

Chart pattern: Double Bottom, Eve and Eve reversal pattern from 01/18/2024 to 02/05/2024

Breakout is upward 100% of the time.

Average rise: 40%.

Break-even failure rate: 4%.

Throwbacks occur 55% of the time.

Price hits measure rule target 67% of the time.

Industry: Computer Software and Svcs

Industry RS rank: 10 out of 60

Stock RS rank: 560 out of 623

2/15/24 close: $37.96

1 Month avg volatility: $1.00. Volatility stop (for downward breakout): $40.93 or 7.8% above the close.

Change YTD: -12.76%

Volume: 2,852,800 shares. 3 month avg: 1,378,918 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Dead-cat bounce continuation pattern from 02/13/2024 to 02/13/2024

Breakout is downward 67% of the time.

Average decline: 18%.

Industry: Healthcare Information

Industry RS rank: 43 out of 60

Stock RS rank: 201 out of 623

2/15/24 close: $223.56

1 Month avg volatility: $4.71. Volatility stop (for upward breakout): $211.63 or 5.3% below the close.

Change YTD: 16.12%

Volume: 740,500 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Tuesday, and best sell day (most up closes) is Thursday.

 

Chart pattern: Three Rising Valleys reversal pattern from 12/07/2023 to 02/01/2024

Breakout is upward 100% of the time.

Average rise: 41%.

Break-even failure rate: 5%.

Throwbacks occur 60% of the time.

Price hits measure rule target 58% of the time.

Industry: Biotechnology

Industry RS rank: 30 out of 60

Stock RS rank: 125 out of 623

2/15/24 close: $426.29

1 Month avg volatility: $8.52. Volatility stop (for downward breakout): $444.44 or 4.3% above the close.

Change YTD: 4.77%

Volume: 1,460,100 shares. 3 month avg: 1,548,174 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.

 

Chart pattern: Broadening top reversal pattern from 01/12/2024 to 01/30/2024

Breakout is downward 50% of the time.

Average decline: 15%.

Break-even failure rate: 18%.

Pullbacks occur 48% of the time.

Price hits measure rule target 37% of the time.

Industry: Computers and Peripherals

WARNING: This industry is within the top 7 that Dead-cat bounce often.

Industry RS rank: 38 out of 60

Stock RS rank: 327 out of 623

2/15/24 close: $283.75

1 Month avg volatility: $7.61. Volatility stop (for upward breakout): $258.06 or 9.1% below the close.

Change YTD: 3.81%

Volume: 1,179,700 shares. 3 month avg: 395,197 shares.

Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Tuesday.

 

Chart pattern: Double Bottom, Adam and Adam reversal pattern from 01/17/2024 to 02/01/2024

Breakout is upward 100% of the time.

Average rise: 35%.

Break-even failure rate: 5%.

Throwbacks occur 64% of the time.

Price hits measure rule target 66% of the time.

 

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