Your Chart of the Week is Here!

Some good lessons here

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Hey There! With all the earnings movement, I wanted to take a look at a chart that isn’t what you typically see ever… especially during earnings.  Let's look at TPIC Those side by side twin candles are not something you see very often on a daily chart.  This means the stock opened and closed at almost the exact prices! Here’s a 5 min look into the charts: Priced climbed up until its earnings call, and then dropped right back down in afterhours/ premarket.  But THEN it only took 15 mins to gain all 17% back! You can see the rest of that day was just a consolidation… So the real question was what would happen next?? If you guessed another 17% gain in the first 20 mins you would’ve been right! That’s 3 consecutive days of 17% gains in the first 30 mins. This setup isn’t something that I would jump into, but there were bullish signs.  The fact that every sell off was immediately rejected and reversed, and the volume increased each day with a positive move up tells us that the buyers are pushing the price up! Where will it go from here? A couple things could happen now. If we zoom out, you can see that TPIC has consistently bounced off the 50 SMA and failed pretty hard.  Which is exactly where we are now. The only difference is that TPIC is now down about 80% since the trend started.  If price can actually break above the 50 SMA and hold it as support, we could find that this was the bottom.  Analysts give TPIC an average price target of over $20.  This might not be the best stock to buy, but there definitely are some great lessons here! If you like to review charts like this, we do it every Monday in my 1K Club! We look at charts, discuss what’s going on in the market, and I answer questions!  It’s only $49 for a full year of the 1K Club.  I’d love to see you inside, and you can join today right here! Plus… The March 1k Club newsletter will be sent out today. That has a breakdown of the market and a couple stocks I’m looking to trade! So join today, and get access immediately! Happy Trading! Markay Manage Your Email Preferences Unsubscribe This email was sent by: InvestPub 495 Town Plaza Avenue Ponte Vedra Beach, FL, 32081, US Update Profile We respect your right to privacy. View our policy. Markay Latimer and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.