Hubert Senters here.
Let’s take a look at ALGN. It is breaking down today. It is below the cloud for the second day so yesterday and then today and now the lagging line is approaching a close below the cloud. It’s not there yet. So it’s got a little bit more work. They probably have it done by next one or two bars.
You do have some support down here in this area of $229-ish so that’s probably where it’s going to head to. And then you also have a little support — actually a little bit more support down in this area of $185. So it’s trading right now $270 as I’m doing this video $270.76. Now what I like to do is I like to find stuff that’s newly above or below the cloud or also I will use a 60 minute chart on a 60 minute chart here.
Give me a little bit more heads up quicker and I know on a 60 minute chart where fired back here is usually good for three days. One, two three and then it re-visit the cloud. See where it almost and then back down again one, two, three. And now it’s going to work its way back up to the cloud and then one two three. It doesn’t always work that way but that’s kind of like the rhythm that I like to look for when they go below the cloud on an hourly.
They’re good for a minimum of three days sometimes 5 days, 21 days and even substantially more thing if they get a good run bottom. Today at noon East Coast VantagePoint is going to be doing a demo of their software which has a really interesting one to three day advanced artificial intelligence predicting the algorithm which is just a fancy way of telling you like it’s going to tell you like hey, this thing is going to go higher for the next. Hey, this thing is going to go lower for the next one to three days.
Webinar is today at noon East Coast time. First name, email address and your mobile phone number. That’s optional and then click the big RESERVED MY SEAT NOW. Webinar will start today at noon.
Good luck. Hope it helps. See you in the next video.
Hubert.
