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Todays Big Stock Wealthpop News

Defense Giant Clears Runway For Bearish Pattern


As you read more of these articles and watch more trade breakdowns, you may begin to see some reoccurring themes. In this case, it’s a reoccurring pattern and one we have seen several times across a handful of different stocks. Seeing patterns over and over again helps in two ways:

  1. It familiarizes you with commonly traded patterns
  2. Gives you the confidence to act the pattern when you see it

Northrop Grumman (NOC) has formed a pattern that we have seen a couple times recently, a head and shoulders pattern, which implies a reversal from up trend to down. A break of the neckline, currently sitting just above 460, would confirm the pattern. It is important to wait for the confirmation because we don’t yet know if this pattern will fully form. If it doesn’t break the neckline and it actually reverses in the opposite direction, then it isn’t much of a head and shoulders anymore, is it?

And for even more about my favorite stocks, setups, and strategies, join my students and I in The Profit Machine. Every week, you will get exclusive access to all things option trading, from the stocks I trade the most, and the setups I look for when trading. The best part, you’ll receive all my trades every step of the learning process, so not only will you get a world-class education, but you’ll also earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…

Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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