Buy at support

[a5519]

Triple bottom. What could be the arguments not to buy today ?

 

[maggandre]

Quote from a5519:

What could be the arguments not to buy today ?

???

Is this a 5-minute, 15-minute, Daily, Weekly chart? What stock (not listed on the chart).

 

[candletrader]

Quote from maggandre:



???

Is this a 5-minute, 15-minute, Daily, Weekly chart? What stock (not listed on the chart).

Dude, we aint in the bubble anymore... it therefore ain't a 5min chart... its a daily...

 

[a5519]

It's daily TCB

 

[exce26]

It looks like going to breaking down

 

[gnome]

Could be descending triangle. Stop out (and/or short) on apparent breakdown.

 

[a5519]

So why should it break down. It tested already support level three times. First Qtr report is released. My be only if S&P goes down 3%.

 

[gnome]

Quote from a5519:

So why should it break down. It tested already support level three times. First Qtr report is released. My be only if S&P goes down 3%.

"So why should it break down."... Feckless question.

 

[a5519]

We will see how TA works. I will post the same chart on friday after closing.

 

[JT47319]

Agree, looks like a descending triangle.

Usually, one side will test the bottom and if that fails, the other side will test the other end. The fact is, it looks like the bears are still in control. With a descending triangle, looks like you have limited upside with the downward sloping channel.