As of 03/28/2024
  Indus: 39,807 +47.29 +0.1%  
  Trans: 16,212 +183.07 +1.1%  
  Utils: 882 +7.51 +0.9%  
  Nasdaq: 16,379 -20.06 -0.1%  
  S&P 500: 5,254 +5.86 +0.1%  
YTD
 +5.6%  
 +2.0%  
 +0.1%  
 +9.1%  
 +10.2%  
  Targets    Overview: 03/13/2024  
  Up arrow40,000 or 38,500 by 04/01/2024
  Up arrow16,300 or 15,350 by 04/01/2024
  Up arrow885 or 830 by 04/01/2024
  Up arrow16,600 or 15,200 by 04/01/2024
  Up arrow5,350 or 5,100 by 04/01/2024
As of 03/28/2024
  Indus: 39,807 +47.29 +0.1%  
  Trans: 16,212 +183.07 +1.1%  
  Utils: 882 +7.51 +0.9%  
  Nasdaq: 16,379 -20.06 -0.1%  
  S&P 500: 5,254 +5.86 +0.1%  
YTD
 +5.6%  
 +2.0%  
 +0.1%  
 +9.1%  
 +10.2%  
  Targets    Overview: 03/13/2024  
  Up arrow40,000 or 38,500 by 04/01/2024
  Up arrow16,300 or 15,350 by 04/01/2024
  Up arrow885 or 830 by 04/01/2024
  Up arrow16,600 or 15,200 by 04/01/2024
  Up arrow5,350 or 5,100 by 04/01/2024

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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