The Best Dressed Chart Patterns Of 2020 - Part II

<<Read Part I, with charts for 19 stocks.

From the intro to Part I: This year Macro Ops created its own Classical Charting breakout alerts service. Our goal for the year was simple: Identify and trade the best-looking classical chart set-ups

We’ve documented the best trades from this year in this essay.  Each section represents a specific chart pattern and the best set-ups in those patterns. We’ll also provide details like chart pattern length and number of days to reach the price target. 

(Rectangle and Ascending/Descending Triangle Patterns covered in Part I)

Symmetrical Triangle

Uber Technologies (UBER)

  • Chart Pattern Length: 19 weeks
  • Days To Reach Price Target: 23

Normally I prefer more uniform symmetrical triangles (like the ones you’ll see below). But we added it here for two reasons. First, UBER was forming this massive symmetrical triangle after an IPO. I love watching IPOs develop trading bases as these can lead to aggressive moves (in either direction). Second, the stock never tested the chart pattern boundary and reached its price target in ~3 weeks. 

Rimini Technologies (RMNI)

  • Chart Pattern Length: 14 weeks
  • Days To Reach Price Target: 2

RMNI was one of the most explosive trades of the year. After failing to reach our 2% breakout threshold, the stock traded lower (testing the support boundary) before closing at the confirmed breakout level. The stock took two days to reach our price target. Those that held a couple of days longer would’ve doubled their profits-per-share. 

Employers Insurance Group (EIG)

  • Chart Pattern Length: 26 months
  • Days To Reach Price Target: 34

EIG completed its 26-month bearish symmetrical triangle pattern after breaking below the 20MA and 200MA. The stock took 34 days to reach its price target. 

Aflac, Inc. (AFL)

  • Chart Pattern Length: 31 weeks
  • Days To Reach Price Target: 7 

AFL was one of the best short opportunities we featured in 2020. The stock took 7 days to reach its price target. Yet those that held saw prices fall 50% before returning higher. 

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Disclaimer: All statements are solely opinions and are for educational purposes only.

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