As of 08/12/2022
  Indus: 33,761 +424.38 +1.3%  
  Trans: 15,147 +74.16 +0.5%  
  Utils: 1,042 +15.91 +1.6%  
  Nasdaq: 13,047 +267.38 +2.1%  
  S&P 500: 4,280 +72.88 +1.7%  
YTD
-7.1%  
-8.1%  
 +6.2%  
-16.6%  
-10.2%  
  Targets    Overview: 07/28/2022  
  Up arrow34,500 or 31,850 by 09/01/2022
  Up arrow16,300 or 14,300 by 09/01/2022
  Up arrow1,075 or 990 by 09/01/2022
  Up arrow13,600 or 12,000 by 09/01/2022
  Up arrow4,325 or 4,000 by 09/01/2022
CPI (updated daily): Arrows on 7/15/22
As of 08/12/2022
  Indus: 33,761 +424.38 +1.3%  
  Trans: 15,147 +74.16 +0.5%  
  Utils: 1,042 +15.91 +1.6%  
  Nasdaq: 13,047 +267.38 +2.1%  
  S&P 500: 4,280 +72.88 +1.7%  
YTD
-7.1%  
-8.1%  
 +6.2%  
-16.6%  
-10.2%  
  Targets    Overview: 07/28/2022  
  Up arrow34,500 or 31,850 by 09/01/2022
  Up arrow16,300 or 14,300 by 09/01/2022
  Up arrow1,075 or 990 by 09/01/2022
  Up arrow13,600 or 12,000 by 09/01/2022
  Up arrow4,325 or 4,000 by 09/01/2022
CPI (updated daily): Arrows on 7/15/22

Bulkowski's Southern Peru Copper 2 (PCU) Trading Quiz

Released 3/30/2022.

PCU 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
chart pattern

What chart patterns can you find? Look for the following (if you find others, great!): diamond top, 2 ascending broadening wedges, descending triangle, inverted and ascending scallop.

The answers are on the next slide.
2 / 3
chart pattern

The diamond top in November 2003 is actually part of a high, tight flag. Some of the lines drawn by my program are not as I would have drawn them, so assume a perfectly shaped pattern. The chart pattern on the right is a descending triangle. It confirms after price closes above the top trendline. Just before that, marked as A A on the chart, is an unconfirmed Adam & Adam double bottom.

Question 1: Do you buy, short, or avoid trading this stock?
Question 2: What is your price target?
Question 3: What is your stop loss price?
See the next slide for answers.
3 / 3
chart pattern

Answer 1 (buy?): Buy because the breakout is upward.

Answer 2 (target?): Measure the height of the triangle from the peak to the horizontal trendline and add it to the breakout price (where price pierces the trendline). Price reaches the target 64% of the time in a bull market, so consider multiplying the height by 64% and then add it to the breakout price. The high is at 55.80, low at 41.26 for a height of 14.54. Sixty-four percent of this is 9.31. Added to the breakout of 46 gives a target of 55.31. The full height target is 60.54.

Answer 3 (stop?): I would draw the bottom trendline higher, make it an internal trendline. If price dropped below the new line then I would sell. That would place the stop at 42.40.

The End.

See Also

 
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