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Use an online technical analysis program, such as BigCharts.com (http://www.bigcharts.com), Stockcharts.com (http://stockcharts.com/), or a charting software/website of your choice to identify a common technical analysis
- Use an online technical analysis program, such as BigCharts.com (http://www.bigcharts.com), Stockcharts.com (http://stockcharts.com/), or a charting software/website of your choice to identify a common technical analysis price pattern (for example, a triangle, cup-with-handle, head-and-shoulders, double bottom, double top, etc.) on a daily or weekly price chart (your choice) for a stock of your choosing and explain why the stock looks like it is ready to rise or fall in price over the next few periods (days or weeks) based on the price pattern identified. Ideally, if the stock is already rising or falling, the stock should only be a few periods (days or weeks) into its move - i.e., there should still be an opportunity for profit and/or risk management. The goal of the problem is not to use technical analysis to explain a past move, but to help identify a potential new buy or sell candidate using price patterns. Therefore, fewer points might be awarded for identifying a stock that does not offer any current investing/trading opportunity. Comment on the pattern, along with any potential buy or sell points. Illustrate/draw any pattern or necessary support or resistance on the stock price chart to further highlight the pattern and any buy or sell signals. Use the current levels of volume to support your position. A thorough analysis is expected.
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