After a protracted upturn, Motorola Solutions Inc. shares abruptly stalled, shifting to a long-term horizontal movement within the USD 58.77 – USD 67.50 band. As part of this flat trend the latest pattern is a diamond. Triangles, in line with the Elliott Wave Theory, are usually the last patterns in corrective two and three patterns. Consequently, the name can be expected to break out of the horizontal corridor and resume its movement. The breach of the diamond’s boundaries will signal that this movement is underway. Right now investors can try to get into this trend beforehand by launching long positions from a 21-day exponential moving average. By the time the stock price reaches the pattern’s bounds, a defensive order will already be loss-free. A certain cushion of profit in this case will be a relief if the diamond’s boundaries remain rock-solid.
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My forecast participates in the Market Forecaster contest. Follow the link s30548462907.whotrad...com/blog/43117589313
to vote for it and help me win the top prize. Thank you.