From yesterday on AZO:
"...it has been forming another possible Falling Wedge (in blue) and currently is looking for Data Point #4, which "could have been" yesterday's low. We'll see. AZO needs to find support here, then go up and knock out the top of the Blue Wedge, which comes in today at 156.029."
AZO gapped up from 152.96 to 154.13. The high of Wednesday's session was 153.70, so I put my buy order in at 153.95, a little higher than 50% of the opening gap but I didn't get filled. The low on the session was 154.08 just after the open, then it shot up like a rocket. I won't whine about it, but ... but ... but .... Curses!
AZO broke out of The Wedge crossing 156.029 and closed at 156.31.
2 comments:
From what I see on your chart would the next entry point be a retest of the top of the blue wedge?
Good Morning, Mark,
That would be a nice entry, technically. The downward slope is -0.4337, so the top of the blue wedge comes in today, July 31, at 155.60.
I'm so annoyed that I didn't buy that Bullish Doji Star Hammer close on Wednesday (152.96), then didn't get filled on my order (153.95) at yesterday's open, I'm going to pass.
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