Eastman Chemical (NYSE:EMN)
In the medium-trend size we see a valid downtrend at the upper edge of the red correction zone. The point three at $73.72 was touched twice, but without a close above. Well, the correction zone is persisting, and as long as the price remains in this zone, the trend can continue each time. With a stop sell order we can speculate on this being the case. Our stop is placed slightly above the last point three and the target lies at the last point two.
Hartford Financial (NYSE:HIG)
In this value we find a similar situation. The downtrend in the medium-trend size is very young. The last correction move led the price more than 50% into the red correction zone and the last candles indicated that the trend was able to continue. We can try to catch the next downwards movement with the short order visible in the chart.
LyondellBasell Industries NV (NYSE:LYB)
LyondellBasell is one of the biggest chemical companies worldwide. The chart shows us a young downtrend with a very large correction zone. With the last downward move, the price undercut the last point two at $72.76 by just a little bit and created a new point two at $69.10. The subsequent upwards move led the price deep into the red zone. Now it seems as if the trend will continue. We are speculating on this happening.
Quanta Services (NYSE:PWR)
Quanta Services is the leading supplier of specialty services for oil and gas companies. But the chart is also in a downtrend. The current price is near the upper edge of the correction zone, and a few recent reversal signals indicated that a trend continuation was highly likely. Therefore our DowHow signal occurred, and we were able to place our short order.
For presentation purposes the trading software "AgenaTrader" has been used.
Disclaimer: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.