Hello you very wonderful and intelligent people that make up this forum. I truly hope things are going positive for you.
I have been researching alot into stocks that make breakouts, this can be over a week or lasting around a month. I have kindly enclosed to this post a screenshot of the Arcutis Biotherapeutics stock chart. From 22nd January 2024 it was around 4.23 USD and rose to 10.75 through to 26th February 2024.
I please kindly wondered besides increasing volume, what other factors should be considered to trade breakouts such as these please? Such as is there any particular candlestick patterns forming, or any other technical indicators that could be helpful to trade and confirm these types of breakouts please? I would be very thankful for any advice anyone can give please, it would mean the world to me.
Thank you very much for any support you can give. Sending you lots of good wishes and i truly hope you have a wonderful life, for you, family and friends. With my every best wishes to you.
You can confirm the breakouts using Stochastic oscillator as you can see on 2 instances breakouts confirmed by Hidden Divergences in the Stochastic
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With hindsight, it’s very easy to find patterns and indicators that tell us this was more than a dead cat bounce, but looking at that chart, I doubt anybody could tell you using TA alone that the multi year down trend was over.
If you want to look into trading stocks in this way, look into Ross Cameron aka the warrior trader. https://www.youtube.com/@DaytradeWarrior
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Thank you ever so much for your kindness and support by replying TradingDream, you are a very wonderful person. I really appreciate very much you getting back to me. I truly hope everything is going well for you.
That is wonderful i really appreciate you sharing that the Stochastic oscillator on 2 instances confirms the breakouts by Hidden Divergences in the Stochastic. Thank you ever so much for your kindness and sharing this.
I have noticed that the Stochastic increased multiples times in 2023 but these breakouts quickly reversed. I please kindly wondered is there any other indicator that could be combined with the Stochastic for the breakouts in 2024 which would confirm these are stronger uptrend periods and stronger breakouts please? If you kindly had any thoughts on this i would be forever grateful and thankful, it would mean the world to me.
Thank you ever so much for your kindness TradingDream you are a very lovely person and i appreciate very much your support. I truly hope you continue to have massive success in the stock market. Sending you lots of good wishes and i truly hope you continue to have a wonderful life, for you, family and friends. With my every best wishes to you.
If you do the fundamental analysis of the stock & if it is positive in the long term, then, you can look for ways to enter technically using a stochastic as above or some other indicator strategy.
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Thank you ever so much for your kindness TradingDream, you are the most amazing person on planet earth. I really appreciate your support with this, you are really a wonderful person. I hope everything is going well for you.
That was wonderful i really appreciate what you said in terms of, if you do the fundamental analysis of the stock and if it is positive in the long term, then, you can look for ways to enter technically using a stochastic. Thank you ever so much for mentioning this it was really kind of you, i really appreciate your support very much.
I have kindly enclosed an updated chart of Arcutis Biotherapeutics to this message. If you kindly please look at the Relative Volume Strength indicator on the chart it is approaching the pink bar for these large uptrends in January/February 2024, which indicates this could be a stronger uptrend. This is alongside the stochastic, you very kindly mentioned, thank you ever so much for mentioning that.
I please kindly wondered TradingDream if you know any other indicators that could work alongside the Stochastic please and whether the candlesticks could show an indication of a uptrend reversal back in January 2024 please? I know in trading/investing its always best to have a range of indicators possibly, 2 - 4 and if all are positive at a set time it can increase your confidence in the trade. If you please had any thoughts on this i would be forever grateful and thankful, my heart would go out to you.
Thank you very much for your support TradingDream you are an amazing and extraordinary human being and your kindness is so heart warming. I truly hope that you continue to have massive success in the stock market. Sending you lots of good wishes and i truly hope you continue to have a happy and positive life, for you, family and friends. With my every best wishes to you.
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I don’t use a lot of indicators. Hopefully someone else here can suggest that for you.
Please read this carefully. Indicators and candlestick patterns can not tell you that the a strong trend is about to reverse.
I know there’s a wealth of information that says it can, but it can’t. If you covered up that chart and showed people each bar at a time with whatever indicator they prefer, they’d pick at least 5 wrong turning points before (maybe) getting the correct one.
If you want to trade single stocks on inflection points, you need to understand why it will change direction. Usually news of some sort or improving results. This website is dedicated to largely technical analysis of Forex markets, you won’t find good advice here on this. Warrior trader is the best example I know of, but he’s a day trader and you’re looking at a weekly chart so maybe that’s no good.
Realistically, you’re looking at investing rather than trading. Probably the best guide would be go to a website that collates analysts data and take the Strong Buy selections.
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