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%
|
34,500 or 31,850 by 09/01/2022
16,300 or 14,300 by 09/01/2022
1,075 or 990 by 09/01/2022
13,600 or 12,000 by 09/01/2022
4,325 or 4,000 by 09/01/2022
|
|
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%
|
34,500 or 31,850 by 09/01/2022
16,300 or 14,300 by 09/01/2022
1,075 or 990 by 09/01/2022
13,600 or 12,000 by 09/01/2022
4,325 or 4,000 by 09/01/2022
|
|
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
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
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
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.
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