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Strategies & Market Trends : Underexposed Technical Analysis -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (652)	11/25/2019 7:01:07 PM
From: Underexposed	Read Replies (1) \| Respond to of 914

USA: Brooks - PRI AUTOMOTIVE [NASD:BRKS] - Technical Analysis You need only ask Robert :) Just a comment on Cohu first It nice when a prediction works out. It seems that the support I mentioned held and we are returning towards the 20daySMA....Nothing to say that we won't go down again to test that support in the near future but as I said, while in consolidation the price seeks the 20daysma and then tends to oscillate around this average until the bollies get tight then all bets are off and you must search for clues as to the coming breakout direction which is 10-25 business days in this case. Now on to BRKS At first Blush if you just looked at the Trigger chart one might say they look similar as they are entering a consolidation after a decent rise.... But that is NOT the case. (more on that in a bit) P&F Chart Where Cohu is a stock in decline that is showing signs of reversing, BRKS has been rising steadily for at least 2 years....erratic as it has been. The first sign that leaps out is the computer generated HIGH POLE WARNING which is bearish. What this warning is referring to is the sudden retreat after a strong rise swallowing up over half of the previous gains. When this happens there is a tendency of continuing to fall... hence the bear warning which has been in effect now for a week. There was a small support at $44.50 that did not last and is immaterial now. There is a diagonal support that is currently being tested. If that eventually fails you have a series of relatively weak supports that form a large band. This should survive as a support... if it does not, things would fall at least to $35-36 or more. The column SMAs remain mildly bullish these can change quickly with a continued downturn as can be seen before. Trigger Chart As I said, on the surface this trigger chart looks the same as that for COHU.... but it is quite different. You see like COHU the gravitational pull of the share price to the 20daySMA and an overshoot with a bit of a rebound towards the 20 daySMA. ...that is fine...but we are below the 20daySMA at a time when it becomes critical before a breakout....this is not where you want to be right now. The Slow Sto is mildly bearish now...the negative slope is slightly increasing if it crosses 50 then it would be full on bearish The MACD follows the Slow Sto The important part of this chart is the BBWidth the pink box shows the point where breakout can occur. With Cohu the BBwidth has 10-15 business days to reach that critical point....therefore it has time to right itself up and go above the 20daySMA. This is not true with BRKS....The BBWidth can suddenly trigger a breakout at any time now.... Without a reversal of the Slow Sto AND MACD, this would be a huge SELL SIGNAL I view this chart as being increasingly bearish Next charts the Sentiment chart looks like Cohu again The Par Sar in the main chart is becoming more important as the point of breakout occurs. IF the share price rises to the Par Sar you will see a buy sign from the Par Sar reversal. However, if the price dives then you will be in for a prolong bear situation....Cannot tell what will happen there but it is something to watch. The Force(30) is neutral bullish The RSI(30) is neutral The DI +/- is Bullish The Ichimoku chart Again...some similarities with COHU.... We are heading for a green cloud... we want to rise above this. If you look at the thin red/blue lines in the top circle are closer together than in the Cohu chart.... mildly bullish, the On bal volume is mildly bearish the CCI is mildly bearish the CMF is neutral bearish. Conclusion as before let's develop a consensus of the indications Bullish ................... 1 Mildly Bullish ......... 1 Neutral Bullish ...... 1 Neutral .................. 1 Neutral Bearish...... 1 Mildly Bearish ........ 3 Bearish .................. 2 Cancelling opposites Bullish ................... 0 Mildly Bullish ......... 0 Neutral Bullish ...... 0 Neutral .................. 1 Neutral Bearish...... 0 Mildly Bearish ....... 2 Bearish .................. 1 These charts show a decided bearish look compared to Cohu even though their charts have a similar look. A lot of this outlook comes from timing of a breakout... BRKS has little time to show some positive changes... Cohu has a couple of weeks to recover. UE