STOCK GOODIES PLAYS OF THE WEEK

[Black_NITE]

P&F Bull and Bear Traps warn chartists that a signal is failing. As the catapults show, these traps are early warning system that can also fail. When looking at a Bull Trap, look at the size of the congestion zone and identify support. A pullback that holds above support could be just that, a pullback. When looking at a Bear Trap. Identify congestion zone resistance. A bounce back into this resistance zone could be just an oversold bounce. Chartists should employ other aspects of technical analysis to confirm signals on P&F charts.