STZ: Bull Flag Separating Two Measured Up Legs
Michelle B submits:
STZ, on Thursday, April 5, released estimate-beating earnings. I noticed STZ during my premarket news reading, and once the market opened, via the top NYSE gainers scan and its notable movement on the high ticker. It gapped up, filled in the gap, and then made new intra highs within the first thirty minutes. This is very bullish action showing eager buyers and caught my attention, so I put the one-minute chart on my trading platform’s main page anticipating a bull flag consolidation and a second leg up. In other words, I was shown strength and was expecting that the strength would cause a continuation of the uptrend intraday.
The one-minute time frame was …
tagged: Brett-Steenbarger, Bull-Flag, Chart-Patterns, Constellation-Brands-Inc.-(STZ), Measured-Moves, Risk-to-Reward_Ratio, Solution-Focus, Technical Analysis and up-legs
