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Old 11-26-2017, 05:02 PM   Nav to Top  #1
likesmoney
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Default Bullish on Robotics


Robotics have recently recently begun a new bull market.



1) Robotics had a multi year consolidation.
2) Robotics then had a bearish break down out of consolidation
3) The bearish break down was followed by a back test of that break down, which exhausted bears. Then robotics began to rally.
4) Robotics went on to regain the 50 week MA
5) It then back tested the 50 week MA as it printed its ICL in June of 2016.
6) The back test was followed by a bullish break out of consolidation in September of 2016.
7) It back tested the consolidation in October and has been on a bullish run.
8) And since it began its bullish run volume has picked up tremendously.

This is very similar to how Biotech began its bull run.



Biotech exhibited the same elements before its bullish run.
1) There was a multi year consolidation.
2) There was a bearish break down out of consolidation.
3) There was a back test of the bearish break down.
4) Biotech regains the 50 week MA.
5) Biotech back tested the 50 week MA
6) There was a bullish break out of consolidation
7) There was a back test of the break out from consolidation.
8) And when it began its bullish run volume has picked up tremendously.


And biotech managed to rally over 259%,.




Robotics is in a confirmed weekly uptrend. It will remain in a weekly uptrend until it closes below the lower weekly cycle band. Taking a closer look at Robotics we can see that it has formed a weekly swing low. The weekly swing low sets up a low risk entry with the stop being placed below the week 19 low. And the correct strategy in a weekly uptrend is to buy the dip.
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