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Strategies & Market Trends : Underexposed Technical Analysis

AQN 6.070

-1.5%

Dec 1 3:59 PM EST

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To: robert b furman who wrote (701)	1/16/2020 4:11:07 PM
From: Underexposed	Read Replies (1) of 914

Hi Robert About 3 weeks ago I gave you an analysis of Brooks PR-Automation [NASD: BRKS] and I was not too hopeful. It looked as though the share price, at that time inside a green cloud, was going to fall through that cloud and travel below the clouds bearishly. Let us see how it has progressed since around Christmas P&F and Trigger charts We appear to be rattling around in a symmetrical triangle in the P&F Chart . If the triangle were ascending or descending then then they would be Bullish or bearish respectively but a symmetrical triangle is neither bullish or bearish .... it is neutral and the share price could break either way. We are entering the apex of this triangle attacking the resistance side. It could be that we will see a breach of that resistance and a positive breakout....or it could fall back and retreat to the support side. This is hopeful but not guaranteed. In the Trigger chart you might think that you are seeing the start of a positive breakout. In the upper circle the share price is above the upper bollie. The Slow Sto and MACD look fine for a breakout However, when I look at the BBwidth it has a negative slope. This leads me to think this may be a "head fake". We will know early next week of course, but I am not convinced that this is a breakout at this point. The sentiment chart shows a lot of neutral sign...especially in the Force (30) and the RSI(30)...ignore the minor up-tick at the end... that could be the head fake doing that. The DI+/- shows a lot of "chaining" in the past month... this is a sign of indecision. The Ichimoku chart on the other hand is reasonably positive.... the CMF is bearish bet the On bal Volume and CCi are bullish. The main chart itself shows the share price being just under that cloud for the past 3 weeks but today it bounced above the cloud.... there is a weakness between the green and red cloud . This could go either way...On one hand if it continues to rise being a bullish breakout then all would be well. On the other hand if it is a head fake and it slides back then you might see the price slide under that red cloud and then it would not be good :) Conclusion This is a watch only. There is too much indecision here to make a decision on anything right now.....could go either way UE

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