Stanly Black & Decker (SWK): A Red Halo Event?

in #money3 years ago

SUMMARY

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When companies like Stanley Black & Decker (SWK); producer of consumer goods; generates this kine of red halo events, one has to become cautious of a potential recessionary period that might be approaching. As you can see in the below weekly chart, the initial downdraft has started with price falling from $176 to $146 or over 22%. Is this bullish? Would you be buying with open arms?

The corrective sequence is targeted to reach the prior wave 4 as shown in below chart. The MACD is currently oversold so that means that the red B wave bounce is next. However, the C wave down is likely to be scary for most and catch many by surprise because they will think that wave B is the start of the next bull cycle.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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Thanks for sharing

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Nice one... Very informative

Picture still is not very clear

Thanks buddy

I wouldn't buy this. But for god's sake, stop posting rubbish Elliot Wave charts that make no sense. The sequence of waves you drawn are completely random and irrelevant for why the market would fall.

Indeed, It will most likely fall, but not because of the waves lines you had thrown carelessly.

Thanks for the crypto advice! Good info!! Much appreciated!!!