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Published On: Thu, Nov 7th, 2019

The Saucer Base: This Bank Stock's Base Formed At A Geological Pace

Like any other stocks, a bank stock that falls into a long decline tends to eventually rise and emerge as a new market leader. When it does, investors are looking for ways to buy into the recovery. One such sign? Keep eyes focused on bullish chart patterns such as the saucer base.




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Investor’s Business Daily’s discussion of CAN SLIM strategies largely involves chart patterns that range from as few as five weeks to several months. Company turnarounds and industry cycles tend to take longer than this. As a result, some base patterns can stretch into months and years.

In contrast, a saucer base is a chart pattern that sometimes forms in just a few months. Mastercard‘s (MA) action in April to September of 2016 is one good example.

The Pace Of The Saucer Base

But this base often requires one or two years to mature. This kind of “geological pace” seriously tests the attention Read Full Article

Source: Investor Corner – IBD

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