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Strategies & Market Trends : Underexposed Technical Analysis

AQN 5.565

-0.3%

Nov 3 3:59 PM EST

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To: Underexposed who wrote (886)	3/18/2021 3:06:06 PM
From: Underexposed	Read Replies (1) of 914

OK...it is time to take a look at Brooks PRI-Automotive BRKS Here is the first 2 charts Let's start with the P&F chart....First look at the circle at the bottom.... 21.... That column is where the first entry for 2021 appears.... look at the ride this stock has had since January 1 which started around $67.50... from a short term or maybe a day trader this would be a great stock for buying and shorting if you had the skills. But for long term there is a lot of uncertainty here. Twice it has risen from significant dips but it is hitting s resistance ceiling... if you look at the upper left circle the computer algorithm for the chart is Bearish with a target of $60.00. as I have said before I really don't believe in these targets...especially as steep as this one...but the direction is certainly possible The column SMA's are less predictable... the bullish blue crossed the red which is normally a bearish sign but now it is running parallel to the red line so it is Neutral right now The "Trigger" chart is soooooooo interesting. Let's start at the top... Year to date we have been traveling down a rather deep horizontal channel. Currently we are near the upper resistance line...the question is...Will that line be breached? ...or will it fall back AGAIN? It looks on first blush that it will falter there but who knows? So now our attention falls to the indicators...Both the Slow Sto and MACD look encouraging BUT we have been encouraged twice before only to see the price fall back....hmmmmm now look at the BBWidth...It has been flat as a pancake during the last two rises of the MACD and Slow Sto and remains flat now....if the BBWidth was rising as well as the other two I would say there is an excellent chance to breach the upper channel line BUT THAT IS NOT THE CASE......the BBWidth gives us no clue as to a rise...it is Neutral right now The sentiment chart is giving mixed messages From the top....the Par Sar is not near the throat of a Bollie squeeze I would disregard it as a telling overlay The Force is Mildly Bullish The RSI is Neutral the ADX DI+/- Shows INDECISION with the chaining of the red/green lines....Note the mild downward hook of the green line so I would call this Bearishly Neutral The Ichimoku chart shows that the price penetrated the green cloud at the beginning of March but it bounced off the lower edge and came out...take makes it mildly Bullish The On Bal Vol is Neutral The CCI is neutral Bullish the ROC...I don't have a clue what that means :) Conclusion This reading is dominated by Neutral to mildly Bullish with a lot of indecision thrown in. We are at a decision point...the top of the channel...it could breach that resistance but past performance recently is not promising. If I owned the stock I would not sell...the jury is out right now BUT I would not buy this stock or add to any holdings.... it is a HOLD for me right now until we see how this works out. Rising above that channel resistance is critical and right now that is hard to predict. UE

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