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Technical Market Research and Investor Coaching

Delivering technical research of the financial markets
and offering professional guidance for those who wish to improve their trading performance.

Chart Patterns

Double Top

Pattern Description:

The double top is a major reversal pattern that forms after an extended uptrend. The pattern is made up of two consecutive peaks that are roughly equal, with a moderate trough in-between. As illustrated below, a double top consists of two well-defined, sharp peaks at approximately the same price level. A double top occurs when prices are in an uptrend. Prices rise to a resistance level, retreat, return to the resistance level again before declining. The two peaks should be distinct and sharp. The pattern is complete when prices decline below the lowest low in the formation. The lowest low is called the confirmation point.

Two Things You Can Do To Immediately Improve Your Trading

Most traders are just a few trading secrets away from achieving total consistency, but these secrets can be the difference between success and failure in the markets. Years ago a Floor Trader was taught these very same trading elements that have enabled him to sustain his trading for the past 4 decades.

How a Simple Line Can Improve Your Trading Success

by Elliott Wave International

"How to draw a trendline" is one of the first things people learn when they study technical analysis. Typically, they quickly move on to more advanced topics and too often discard this simplest of all technical tools. Yet you’d be amazed at the value a simple line can offer when you analyze a market. As Jeffrey Kennedy, Elliott Wave International’s Chief Commodity Analyst, puts it: “A trendline represents the psychology of the market, specifically, the psychology...

A Death Cross for Carnival Corp.

2024-04-20 by Tim Straiton

Carnival Corp. was the second best performer in the S&P 500 after Nvidia in July 2023, however the company seems to be cruising into darker waters right now. The stock is currently running into oversold territory with the 14 day relative strength index at 32%.

Rising trendline support comes in at 13.18. A death cross formation has been established with the 200 day moving average now trending downward. It would probably be worth using any upside correction to liquidate long positions. Holders of this stock should be aware that a break of $13 would put focus on the $11 area.

Disclaimer

Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you.

Featured Site

Saxo Bank

Site Description:

offers access to exchanges around the world.