As traders are rejoicing at the sudden influx of foreign buying, it’s also time to celebrate our featured traders of the week! We would like to congratulate Ferdinand Roaquin a.k.a. @bong_r and Poppy a.k.a. @poppykat for doing a job well done adding value to the Investa Community.
The Technician
Ferdinand Roaquin is our technician of the week for spotting $AC (Ayala Corporation). One of the leading names in our market, $AC has been having a nice play in the past couple of weeks. As the market was drying up and uncertainty started to heighten, $AC was among the leaders in last Friday’s strong market run.
Let’s take a closer look at how Ferdinand saw this opportunity. You can view the original post here: https://www.investagrams.com/Post/bong_r/1050621
First of all, our technician had two theories: a cup and handle formation and a bullish pennant. The latter, used for short-term movement, is a continuation pattern of an existing uptrend. As one of the resilient issues in the market, $AC has had a pretty nice short-term uptrend heading into the bullish pennant.
Targets for continuation patterns are often set by taking the size of the highest and lowest point of the consolidation, then adding it to the high.
Ferdinand Roaquin also points out that price should hold on the following day from the first impulse candle. As a continuation pattern, it is important that momentum is kept healthy. If price were to drop and the broken resistance doesn’t act as support, it should be taken as a signal that the trend is about to reverse.
The second thesis is a cup and handle formation that was used to forecast a longer-term move. A pattern that can signal either the reversal or continuation of a trend, the cup and handle takes the form of a U-like shape with a smaller consolidation towards the end. The pattern target is taken by measuring the height from the lowest point to the resistance of the handle, then adding it on top of the pattern.
Although there are often varying perceptions when it comes to technical analysis, especially in the subsection of patterns, the most important thing to remember is to recognize how these tools fit in the bigger scheme of your system. For our featured technician for the week, he used these patterns to guide his analysis.
Team Player
Whether in a bull or bear market, trading will always be a rigorous endeavor; which is why team players are always welcomed in any trading community. These are invaluable people that spread positive vibes while adding value to his fellow traders.
The team player of the week award goes to Poppy for consistently sharing informative content and putting extra effort in challenging her fellow traders to exert more effort in stock market learning, while also showing that she walks the talk.
We’ve noticed that this team player has a habit of sharing helpful information. It’s this kind of posts that help promote a growth mindset in the community. Novices will surely appreciate the lessons that they can learn, while experts might find it refreshing. No matter what your skill level is, it is always important to hone one’s efficacy in the basics of trading.
More than just sharing information, Poppy shows that she herself is a continuous learner. As a trader, there should never be a moment where you think that you already know it all. Being a successful trader comes with the mindset that there is always something new to learn.
To appreciate our Featured traders of the week, we will be giving them FREE one-month InvestaPRO access. Keep up the good work, and let’s all do our part in growing our community!