October 25, 2016
AFSD Aflac Incorporated 5.5% Subord
Just pick this stock and start reading the chart. and ask yourself, should I buy or sell for this stock. Remember we discussed about training wheels earlier. Please begin to learn to read the chart.
Reading chart, is simple. What you see? We see the price hit the high and drop lower, bullback. We see the price rise from bottom left to top right, uptrend.
Reading chart always start from the left, and ending on the right.
Next, we read the bars, bar by bar. What have you get? Forget about the immediate bar (for now) when reading the weekly chart. The first bar close higher than the last bar. Bullish. The bar is able to close above a low of the bar. Bullish.
We find lower high and lower low, is a downtrend.
We see the lower low is lower than the last low on uptrend, ending the last trend and starting a new trend.
We have a conclusion, the price is in a reversal phase.
Add some other tools if you have some, such as wave. You find the wave is pointing to three o’clock. What’s Raghee advice on three o’clock entry.
Great job, we have done a step by step analysis. Remember there is no right, no wrong, and all setup can fail. Have fun!
24 October 2016 Alfac Incorporated 5.5% Subord Weekly
Moses US Stock Desk
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