CHD Daily.
5' Wolfe wave potential pattern.
Sits on key support rising Wedge 5/9/13 uptrend_line and rising 200 sma.
Oversold Bounce is possible, from current price within Wedge.
Diagonal Line(potential profit target) not crossing 4 point, but front-run a bit higher on multiple rejections,
convergence with 3 point diagonal and Channel upper bound.
1-4 Line, crossing Channel lower bound potential projection at 57.70.
Vs S&P500 breaking down.
OBV weak, lower horizontal level.
Short order, at breakout at price 65.89
Stop is put bit higher above trend_line to consider a bounce rally to the underbelly of the pattern.
Setup is in place for a specific period of time. Readjusting IF and when price breaks down from Wedge.
Targets :
65.06
61.90
5' Wolfe wave potential pattern.
Sits on key support rising Wedge 5/9/13 uptrend_line and rising 200 sma.
Oversold Bounce is possible, from current price within Wedge.
Diagonal Line(potential profit target) not crossing 4 point, but front-run a bit higher on multiple rejections,
convergence with 3 point diagonal and Channel upper bound.
1-4 Line, crossing Channel lower bound potential projection at 57.70.
Vs S&P500 breaking down.
OBV weak, lower horizontal level.
Short order, at breakout at price 65.89
Stop is put bit higher above trend_line to consider a bounce rally to the underbelly of the pattern.
Setup is in place for a specific period of time. Readjusting IF and when price breaks down from Wedge.
Targets :
65.06
61.90