As of 12/01/2023
Indus: 36,246 +294.61 +0.8%
Trans: 15,464 +445.25 +3.0%
Utils: 876 +9.25 +1.1%
Nasdaq: 14,305 +78.81 +0.6%
S&P 500: 4,595 +26.83 +0.6%
|
YTD
+9.3%
+15.5%
-9.4%
+36.7%
+19.7%
|
34,500 or 36,400 by 12/15/2023
14,500 or 15,800 by 12/15/2023
900 or 825 by 12/15/2023
13,700 or 14,450 by 12/15/2023
4,450 or 4,650 by 12/15/2023
|
|
As of 12/01/2023
Indus: 36,246 +294.61 +0.8%
Trans: 15,464 +445.25 +3.0%
Utils: 876 +9.25 +1.1%
Nasdaq: 14,305 +78.81 +0.6%
S&P 500: 4,595 +26.83 +0.6%
|
YTD
+9.3%
+15.5%
-9.4%
+36.7%
+19.7%
|
34,500 or 36,400 by 12/15/2023
14,500 or 15,800 by 12/15/2023
900 or 825 by 12/15/2023
13,700 or 14,450 by 12/15/2023
4,450 or 4,650 by 12/15/2023
|
|
Bulkowski's Alcon 2 Trading Quiz
Released 2/11/2021.
ACL 2: Quiz
Below is a slider quiz to test your trading ability. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.
1 / 3
What chart patterns can you find? Look for the following: 3 ascending scallops (one looks weird), descending triangles, symmetrical triangle, and a broadening top.
Answers are on the next slide.
2 / 3
Notice that the September ascending scallop has price levels almost at the same price, suggesting the uptrend is near an end. Price tumbles soon after. The December scallop
is more V-shaped than I like to see (it's the weird looking one).
The symmetrical triangle has an upward breakout when price closed above the top trendline in February 2005.
Question 1: Do you buy, short, or avoid trading this stock?
Question 2: If trading this one, what is the target price?
Question 3: If trading this one, what is the stop price?
My answers appear on the next slide.
3 / 3
Answer 1 (buy?): Buy. The stock is near the yearly high with an upward breakout, a good sign of additional gains.
Answer 2 (target?): Compute the triangle height and add the height to the breakout price. The result will give you a target price which the stock reaches 70% of the time,
so be conservative in your target.
Answer 3 (stop?): Volatility is $1.71, so a stop no closer than 77.58 would work well. That means placing a stop below the lowest valley in the chart pattern, which bottoms at 76.74.
That would give a potential loss of 3.5%, which is great.
The end.
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See Also
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