Join Tom Bowley for a briefing on market activity on Mondays and Wednesdays from 9-9:30 am EST before the opening bell. Click here to listen live or visit our YouTube page later today to view the recorded session.
Upcoming Earnings ChartLists
Our ChartLists for this week's upcoming earnings are now available. You can access them by clicking HERE.
Save the Date!
Wednesday, May 19th at 5:30pm EST
"Top 10 Stock Picks" Webinar
Featuring Tom Bowley, Chief Market Strategist
Details to follow.
A Prior Article Revisited: SPT Reverses
As a trader, especially one just starting out, it's probably a good idea to review prior trades and possibly even journalize them. The purpose is to objectively review your thought process to see what works for you and what doesn't. It's also an educational exercise. Looking back at prior EB Digest articles can be educational too as some will work and some won't. That's the nature of technical analysis. Here's a chart provided less
than two weeks ago:
Perhaps the biggest question I receive is "when do I sell"? On April 30th, I pointed to a reversing candle on the Sprout Social, Inc. (SPT) chart. I suggested at the time that a potential triangle pattern could form after the top printed. So far, that's exactly what's happened. The candle from yesterday was a reversing piercing candle and it came just as it tested that triangle support. I'd be careful if Tuesday's price low is
violated as it would negate both the reversing candle and the triangle pattern.
