AXTA - Inverted H&SAXTA has formed a large head and shoulders inverted pattern on this daily timeframe
I expect a breakout of the little channel drawn in green to the upside and completion of the head and shoulders
This is a common reversal pattern
AXTA
AXTA When in doubt what is Warren Buffet looking at?Found this play off Warren Buffets play list. Looked juicy here. It is repeating a move that pops upwards in a huge way in previous moves that shared the same KeyCode as this one. I found about 3-4 and all popped upwards.
I made a key code of the price action then found an exact match to this move in the past.... one that matched at lease 95% or better. That way if the move is that close to the same shape we have now it must mean the sentiment of the market was the same at that time. Therefore, the outcome should be the same coming out of the move. I then used PTP which is Past Trend Prediction by tracing the trend it made after this move in the past and projecting it forward on to the current move.
Then I took the same move on the Daily which is a different Time frame then the first..and found the same move with out a key and traced its path and projected it forward as well.
Sometimes I use about 5 other Price Action tricks I have have developed over the last 10 months or chart out the Curve and what Stage it is in. The Curve is my own brain child and I compare that to Wycoff method. Taking all of these into account You have several different approaches to confirming direction and intent of the institutional buyers and where Retail resides during this move.
If you would like to have more information or videos on Any of the ways I chart pls comment below. Like, follow, Subscribe...share.
Thank you,
iCantw84it
06.11.2021
AXTA- Short at the break of 25.87AXTA seems breaking down forming a downward head & shoulder pattern. It has massive insider selling.
Breaking below 25.87 will be continuation of head & shoulder. & the formation can take it down to 24 area.
On the option side we are looking for $26 January Puts $1.26
You can check our detailed analysis on AXTA in the trading room/ Executive summary link here-
www.youtube.com
AXTA - short AXTA in our watch list for short. Huge insider selling & overall technical weakness makes it perfect for short.
We think it can decline as low as 21 & break of 28 will be good entry point. However we like to watch it few more days before we get in.
"You can check our detailed analysis on AXTA in the trading room/ Executive summery link here-
www.youtube.com
Time Span: 2:20"
Trade Status: Watch list
