AI
Happy Thanksgiving SD, Qone0 and Ownwallstreet.
SD, DRYS is one of those stocks that has put the fear in traders since it is known for it's reverse splits. So I wanted to see if it would follow a pattern target even though it had a bad rap.
And it did. I like trading the pattern breakouts especially when they are in a long consolidation pattern. But the key is to wait for that 3rd candle after the break (60 minute chart) to try to avoid false breaks.
It looks like DRYS is in another pattern. I don't try to guess which way it breaks, just have to wait and see.
XXII looks like a possible bounce. Watching for support above 2.24 - 2.30 area
Have a great day!
SD, DRYS is one of those stocks that has put the fear in traders since it is known for it's reverse splits. So I wanted to see if it would follow a pattern target even though it had a bad rap.
And it did. I like trading the pattern breakouts especially when they are in a long consolidation pattern. But the key is to wait for that 3rd candle after the break (60 minute chart) to try to avoid false breaks.
It looks like DRYS is in another pattern. I don't try to guess which way it breaks, just have to wait and see.
XXII looks like a possible bounce. Watching for support above 2.24 - 2.30 area
Have a great day!
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