Three weeks ago the Power of the Pattern shared what looked like a great opportunity in the chart below…See original post HERE
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At the time we shared that Premium and Sector members owned this position and if you wanted to know what this opportunity was, to send us an email and we would get you the answer. The response to the quiz was very large (Thanks for all your emails) and we wanted to update those people that requested the info, on how this opportunity was doing.
We shared with readers that Hawaiian Electric (HE) looked to be creating a sweet opportunity. Below updates the performance since the quiz.
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Some feel utilities can be boring. When a multi-year ascending triangle forms, great opportunities can be found, even in the utility sector!
Below updates the pattern on HE since the quiz-
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Ascending triangles break to the upside two-thirds of the time and remain one of our favorite bull market patterns to play. HE continues to push higher and the measured move on this pattern suggests that it has more room to run to the upside.
In the future when we publish a “What would you do with this opportunity” post, feel free to send us an email at services@kimblechartingsolutions.com and we will get you the answer as soon as we can. If you would like to stay abreast of these patterns as they are taking place, we would be honored if you were a Premium or Sectors member.
Why you see chart pattern analysis with brief commentary: There is a ton of news and opinions about markets and stocks that make the decision-making process more difficult than it needs to be.
I believe the Power of the chart Pattern provides all you need to see what is taking place in an asset and determine the action to take.
This approach has worked well for me and our clients and I encourage you to test it for yourself.
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