Weekly Update 2017-12-02


Pending order :RFP, CHFC, MFC

Weekly Review

Last week activities : none

Next Week Watchlist

CHFC : Continuation head and shoulders

CHFC breakout with good volume on the daily chart, but the breakout volume on the weekly chart only 37% above MA. I'll give it a try with a wider stop.

MFC : 8-years rectangle

MFC cleared overhead resistance and breakout from 8-years rectangle. On smaller pattern, MFC breakout from 3-years head and multiple shoulders bottom pattern but still no big volume on weekly breakout. Breakout from big and small pattern give me enough conviction to buy, also the fundamental is pretty stable.

REI : Head and shoulders bottom

REI is an oil & gas company. The stock price is highly correlated with oil price. REI try to breakout from 3-years head and shoulder bottom with one week out of line movement. Usually, the breakout direction will be same with "out of line" direction which is up. I also love the vcp (volatility contraction pattern) on the right shoulder. The only thing that prevents me to make an order on Monday is the daily pinbar on last Friday. I'd love to see if little pullback with low volume happens before place a buy order.

Current Risk Position

That's all for this week, have a good week and thanks for reading.

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