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Strategies & Market Trends : Underexposed Technical Analysis

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To: Underexposed who wrote (168)9/28/2017 9:41:50 PM
From: Underexposed   of 187
 
When I looked at my post on ALA.TO I saw that the Ichimoku chart was not there.

Here it is



This chart is actually quite bullish... the indicators at the bottom are bullish and the share price has cleared a red cloud which is not easy to do so quickly. The top of that red cloud will be a support and it would not surprise me to see a pullback that I see in the previous chart to be supported there ($28.40)
This is what I said in my post on this chart.

There has been a tiny pullback but not a serious one. As I said there are a lot of mixed messages in these stocks. A lot will depend on the completion of the buyout of WGL Holdings Inc. (NYSE:WGL)

Here is the trigger chart update



Remember I said that closing above the upper Bollinger band was very rare. Looking at the upper circle shows I was right and the share price has retreated back into the BB envelop.

Not only did it move into the envelop, but it did it in the a really good manner.... sideways. a strong pullback would not be good in the short term.

You can see from the indicators below that the Slow Sto is still pegged over 80... the MACD and BBwidth are still positive slope....There is a good chance that this bull run may not be over and that $29.00 resistance may be breached and the share price could continue to climb.

The next 3-5 days will be telling for you. Good luck!
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