Using Trading Central’s “Technical Insight” screener, I screened for U.S equities that have listed options available and have confirmed a bullish classic technical pattern with a possible upward price move of at least 15%.
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What we found
Western Digital Corp (WDC: NASDAQ) confirmed a bullish Symmetrical Continuation Triangle.
The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend.
A Symmetrical Continuation Triangle (Bullish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend.
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Dell Technologies Inc (DELL: NYSE) also confirmed a bullish Symmetrical Continuation Triangle.
Coinbase Global Inc (COIN: NASDAQ) confirmed a bullish Continuation wedge.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
Chart Sources: Trading Central Technical Insight
Trading Central’s event-driven technical analysis “Technical Insight” allows investors to cover more ground and find more investing opportunities through the use of software automation.
The investment ideas presented here are for information only. They do not constitute advice or a recommendation by Trading Central in respect of the investment in financial instruments. Investors should conduct further research before investing.
Gary Christie is head of North American research at Trading Central in Ottawa.
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I tried IBKR as a trial to see if it works with my E.W. software called MotiveWave. Since TD Ameritrade is not in business anymore , I was told lot of people now using IBKR for data.
If ok with your Client services, I can open IBKR account with a small amount. If your data works with my software, I will transfer my Charles Schwab account to IBKR.
Thanks.
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