• David Yocum

Stock Chart of the Week - 10/10/22 to 10/14/22

Heading into the week, I am indecisive about my overall sentiment. Overall, we are still in a strong downtrend however I do believe a bull rally is imminent in the near future. If unable to find any signs of life, I believe we could see a type of capitulation bottom soon. That said, I am not going long under key moving averages. Still, I am taking caution with my short positions while eyeing early bull crossover candidates in the case we do see an intermediate rally.

 

My favorite stock chart of this week is $AROC (Archrock, Inc.). $AROC has quietly sunk beneath a key price zone here around 7.00-7.40 - price is just within that zone at $7.05 which helps identify a tight stop. The weekly timeframe sits right below the 8EMA while the daily tests the key 34/55 EMA band. Lastly, $AROC is hitting its worst 2-month stretch of seasonality since its IPO 5 years ago. Weekly TF:

Daily TF:

Monthly Seasonality:

 

Want to check out my favorite charts heading into next week? Watch my weekly watchlist video here!

 

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