Hubert Senters here.
Let’s take a look at DISH. One of the biggest net gainers on the day on the S&P 500. Also has a buy signal. I’m going to zoom in here. So before I zoom in and let me show you some sell signal way back here. There was a potential buy signal right here one day. Let me zoom in. Make a bigger zoom or to the right here.
So there was at one point a buy signal backing off. I don’t see that. Here. Buy signal one close, two closes actually three closes above the cloud. And then it went back into a nosedive. So on this one, I would probably give it at least five closes above the cloud right now. Yeah. I would count that as one. It’s pretty close.
But it does count and right there you can see where that one is slightly above. This is the second day. Now, if we get this one right with the five day close so that we don’t get a little hoodwinked there on that last one. And here’s a key point when you’re looking at this stuff I’m going to mark it up just a little bit.
You see where this close around here had your three bars. Notice that this white lagging line was not above the cloud. So it’s you see a good sign of a head fake. Now, in this case scenario we’ve had two candlesticks above the cloud and the lagging line is going with us so that’s a better sign.
But if you want to be for sure you can wait for two or three more bars to close above the cloud. Now, if we’re right and this was an actual real new buy signal where could it potentially go. Well, it could potentially pay some pretty good dividends if we catch it the right way from the dead highs to the dead lows.
It could retrace up all the way to $47.66 or $52.11 in this zone. So we think this is the zone where it’s probably going to go. So from about $36 all the way up to about $50-ish, $47 to $52. Give it a couple more days and then start to look for the long side.
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Good luck. Hope it helps. And I’ll hyperlink you to the page.
Hubert.
