Happy Presidents Day! A prepared trader is a generally a profitable trader, and long weekends can be the best time to study up for the coming week ahead. In this weekend’s analysis, we focus on the brand new features now available and take a quick look at the broad market ETFs in our video update.
Every Thursday, TrendSpider releases a blog looking at a group of stocks to show some of the features of the platform as well as show interesting patterns setting up. In this Thursday’s blog post, we take a look at USO (Oil ETF) and two oil-based companies MRO (Marathon Oil) and CHK (Chesapeake Energy).
A prepared trader is a generally a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action. In this weekend’s analysis, we take a look at the pullback that has started across the board with XBI once again starting to show signs of a move down before SPY and QQQ. Get the full analysis through the video below and reach out with any questions about the TrendSpider charting platform!
Imagine that you come across a stock that’s forming an ascending triangle pattern. You know that a breakout is likely to occur given the series of higher lows, and sure enough, the stock breaks out the following session on high volume. There was no fundamental news to justify the breakout—the price movement seemed to occur out-of-the-blue.
Did the ascending triangle pattern predict the breakout? Or, did the chart pattern cause the breakout? Does the answer really matter in practice?
Let’s take a look at these questions, what drives prices, and how traders can profit.