DUPONT – prognosis via Dow theory
Weekly chart:
In the big picture we see a very young uptrend with a correction zone between $33.62 and $28.83. The price is currently pushing off upwards from out of this correction zone. A continuation of the trend is more than likely.
Daily chart:
A young uptrend was also able to establish itself in the daily chart. After its last high at $34.81, the price corrected into the last correction zone, found enough buyers there and is now attempting a new upward movement. With a stop beneath the green correction zone, one can speculate on a trend continuation.
Hourly chart:
The hourly chart is providing us with a signal for entry, especially since we can detect a very young trend here, too. The last movement was very heavily corrected, so much so that the price ran back down to the last point two. From there, the price is now pushing off upward and is showing clear tendencies toward a trend continuation.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Trader asset management
BORN STAHLBERG & Partner
AgenaTrader Trading Software
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