well. coming into today i was very bearish on financial stocks and V was setting up in a descending triangle and looked ready to drop. It dropped over $5 at one point before rebounding a bit with the markets.
it's on the chart. it's not a perfect text book descending triangle but if you squint your eyes, you'll see it. lol. You are right V and MA aren't true 'financial' companies but they were related enough to the industry to take a beating. i was confident of that.
How about an explanation please?
ReplyDeletewhat do you mean?
ReplyDeleteI mean, can you please explain why "V is Ready to Tumble"?
ReplyDeletewell. coming into today i was very bearish on financial stocks and V was setting up in a descending triangle and looked ready to drop. It dropped over $5 at one point before rebounding a bit with the markets.
ReplyDeleteI'm bearish on financials as well, but I'm not sure I'd consider V a financial.
ReplyDeleteCould you point out on your chart where you see a descending triangle?
Thanks.
it's on the chart. it's not a perfect text book descending triangle but if you squint your eyes, you'll see it. lol. You are right V and MA aren't true 'financial' companies but they were related enough to the industry to take a beating. i was confident of that.
ReplyDeleteV and MA also have good correlation to the SKF. Looks like a duck, walks like a duck...
ReplyDelete