As of 06/14/2024
  Indus: 38,589 -57.94 -0.1%  
  Trans: 14,807 -161.34 -1.1%  
  Utils: 917 -0.41 0.0%  
  Nasdaq: 17,689 +21.32 +0.1%  
  S&P 500: 5,432 -2.14 0.0%  
YTD
 +2.4%  
-6.9%  
 +4.0%  
 +17.8%  
 +13.9%  
  Targets    Overview: 06/13/2024  
  Up arrow39,900 or 37,650 by 07/01/2024
  Up arrow15,800 or 14,300 by 07/01/2024
  Up arrow960 or 890 by 07/01/2024
  Up arrow17,800 or 16,750 by 07/01/2024
  Up arrow5,500 or 5,250 by 07/01/2024
As of 06/14/2024
  Indus: 38,589 -57.94 -0.1%  
  Trans: 14,807 -161.34 -1.1%  
  Utils: 917 -0.41 0.0%  
  Nasdaq: 17,689 +21.32 +0.1%  
  S&P 500: 5,432 -2.14 0.0%  
YTD
 +2.4%  
-6.9%  
 +4.0%  
 +17.8%  
 +13.9%  
  Targets    Overview: 06/13/2024  
  Up arrow39,900 or 37,650 by 07/01/2024
  Up arrow15,800 or 14,300 by 07/01/2024
  Up arrow960 or 890 by 07/01/2024
  Up arrow17,800 or 16,750 by 07/01/2024
  Up arrow5,500 or 5,250 by 07/01/2024

Bulkowski's UNUM Provident (UNM) Quiz

Released 8/10/2022.

UNM: Quiz

Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.


1 / 4
chart pattern

Look for the following chart patterns (If you find others, great!): small head-and-shoulders bottom, descending triangle, ascending triangle, and a ascending broadening wedge.

The answers are on the next slide.
2 / 4
chart pattern

The ascending triangle has broken out downward.

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?

The answer appears on the next slide.
3 / 4
chart pattern

Answer 1 (buy?): short the stock if you are crazy enough to want to risk it. If I owned this stock, I’d sell it.

Answer 2 (target?): Measure the height of the triangle and project it downward from the breakout price. That’s the high at 33 minus the low at 30.44 (pattern start) giving a height of 2.56. Subtract it from the breakout of 32.20 for a target of 29.64.

Answer 3 (stop?): The top of the triangle would be a good stop location, especially since it’s at the round number of 33. I’d place the stop at 33.07 or so. That would mean a potential loss of less than 4%.

The stock has moved up from the low in October.

Question: What would cause you to cover the short?

The next slide shows the answer.
4 / 4
chart pattern

Price formed a triple bottom. By drawing a "neckline" along the price peaks in the pattern, a close above the red line signals an upward move and time to close out the short position.

The End.

See Also

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