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Strategies & Market Trends : Underexposed Technical Analysis
AQN 5.900-1.4%1:38 PM EST
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To: robert b furman who wrote (659)12/3/2019 5:40:27 PM
From: Underexposed  Read Replies (1) of 914
 
USA: Brooks PRI-Automation Inc

Hi Robert
Your concern on Brks needing to move quickly has just been confirmed:
It was interesting how on the surface those two charts (COHU and BRKS) looked the same but it is those subtle differences that once you recognize them can make the difference

You won't find anything like what I saw in any TA book that I am aware of.... over the last ten + years I have found interesting details that are real tells.



You can see from that blue line at the bottom that all major events occur at a certain value of the BBwidth... in this case it was a value of 10..

Once you near this point you look at what the Slow sto and MACD are doing... as you can see there was no real movement from BOTH indicators to reverse their direction to the positive... so when the trigger was pulled and the BBwidth made its uptick...you see the result.

What I like is the CEO took the job under his control - he's a hands on guy and will get it straightened out. I suspect a great add to opportunity out into the future.The makings of a 15 day dip in price.
I am not so sure this will be a small 15 day dip and I would not be in a rush to make a future buy.

If this stock made a rapid turn around then the BBWidth would show this to be a head fake... the steepness of the Slow sto and MACD don't suggest this is a head fake

Now comes the question: When can we reasonably expect a turn around.????

I look to the P&F chart AND the Ichimoku chart for that


The P&F chart is not that easy to read. There is no real strong Resistance/Support lines....rather there are more bands of support with mini-supports making them up and how strong these components are is questionable.

The previous chart I showed you had a "High Pole Warning" which I pay attention to as a bearish forecast. Now we have another warning "Double Bottom Breakdown". This is a confirmation of the bear and not a sign of a head fake.

we are in the middle of that broad band of support which looks more like tissue paper.... if this continues you are looking another drop to $35 - $36... after that who knows it could be less than $30

The Ichimoku chart gives a better picture.



I have suffered a lot of grief from some people that pooh-pooh the clouds of the Ichimoku chart.

I am fascinated by events like we see today. See how this share price ground to a halt at the edge of the green cloud?

Now green clouds are nicer than red clouds but not by much. Coming down on a cloud the edges are supports.... breaking through the edges from above changes them to resistances.
...

Now the curvature of that green cloud suggests it is almost impossible that the share price can avoid entering the green cloud... this will be only a rest right now.

The top of the green cloud is starting to come to a point.....then it will change to a red cloud.... if we fall below the Green cloud then that change from Green to Red cloud will be a short window where the price can easily break above the clouds.... we see an example of that in early September.

Miss that window of opportunity and it could be a while before a permanent turnaround would be possible

So the Ichimoku chart shows a lot of potential danger ahead.

This stock is only a WATCH for me... there is more bear ahead I am afraid.



UE

PS: COHU




Cohu is not out of the woods yet.


We are approaching its critical point where a major event can occur....probably 5 - 8 business days away.

Unless it makes a move soon to that 20daySMA... COHU will suffer like BRKS... So far the Slow Sto and MACD don't look good.... but we have a few days yet for a turnaround.

That is why I have a limit stop-loss on this stock... to protect myself in the American Fantasy Portfolio.

This is another watch/hold for me.

UE
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