DRQ Breakout Entry Signals Technical Analysis

CandleStick count of 30 days inside the constricting Bollinger Bands.

The Butterfly pattern consisting of the 5, 10 and 20-day exponential moving averages (EMAs) are converging.

Wait for stock to break 1% above the upper bollinger band, with good price momentum, and equity trader momentum of at least 1%/hour before entering a call option

Wait for stock price momentum breaking 1% below the lower bollinger band and equity trader momentum of at least 1%/hour before entering a put option

Intermediate-Term Technical Analysis

Moving Average Convergence/Divergence (MACD) indicates a Bullish Trend. Chart pattern indicates a Weak Downward Trend. Relative Strength is Bullish. Up/Down volume pattern indicates that the stock is under Distribution. The 50 day Moving Average is rising which is Bullish. The 200 day Moving Average is rising which is Bullish. Look for Support at 46.73 Price is above Resistance of 48.46 which is Bullish.

Use of Stock Chart courtesy of swingtracker.com.

For coaching advice in determining the proper criteria to enter and exit a specific position, visit the Rockwell Trading Coaching Program. A free 60-minute one-on-one session is available to interested investors.

Company Business Summary(Standard&Poor's)

This company manufactures highly engineered offshore drilling and production equipment for use in deep water and harsh environments. DRQ has an approximate 0.19% weighting in the S&P SmallCap.

The Candlestick Charting ebook

Trend Strategist Handbook

The Stock Trading Guide

Breakout Pattern Trading Strategies

Stock Options Trading Strategies

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