Cubs Fans, Take Note
With
the Cubs facing the final game of the NLCS,
it is only fitting that I found a stock setup that has “attachmentsâ€
to the friendly confines of Wrigley Field. As you walk through the halls of
Wrigley, one thing is evident:
Those fans love their Budweiser
(
BUD |
Quote |
Chart |
News |
PowerRating)). There is even a giant advertisement in left center field (which
is the top of a house) dedicated to advertising this beverage company.
Let’s walk through
my analysis of this company below:
1) We have completed a Bullish
Gartley pattern
2) The pattern is hitting a Fibonacci price support zone
3) We are hitting a major cycle reversal point
a. The two previous major low points were July 19, 2002 and March 5, 2003
i. There were 157 trading days between those two dates
ii. As of today (Oct. 15), we are 155 days from the March 5 low. That, my friends,
is a major time cycle to be aware of
WHEN
the Cubs win tonight, there will be plenty of celebration. I’m guessing
that celebration may involve some
(
BUD |
Quote |
Chart |
News |
PowerRating). It might not be a bad idea to look
for opportunities to buy the stock as well against this support zone. If longs
are triggered/taken, I would be placing stops below the support zone.