1.Price currently getting into the narrow depths of this Symmetrical Triangle. 2. A strong break to downside and pullback to test Bottom Trend Line needed before shorting 3. Possible rally to untested Supply Zone where Bulls will look to take profit. 4. A more highly profitable shorting zone will be 1.1535-1.1585 5. Price currently in a possible flag channel Lets...
Gap below. Next supply level above is 57.78 Beat earnings by just one penny. Many new stores, and these take about 1 year to become profitable.
I have been shorting this pair for a while now. Since it has been on a downtrend with predictable pullbacks and FIB retracements! A 4hr Candle just closed testing the Bearish Flag that broke out recently from GBP strength. This technical analysis has been respecting a weekly structure and is now on course to test the lower Trend Line of this structure. I am...
This multi year projection is based on the break up from the downsloping channel which appears to look like a bull flag continuation pattern. Note that the price scale on this chart is log. From start of golds bull run to peak in 2011 was a roughly 680% increase in price. Similar increase from todays level looks at a target of towards $9000 per ounce. Those...
Looking to break the channel upwards towards the high from the beginning of the month. Little news, pure technical play
SCG has spent the best part of 18 months trying to break out above the 2013 high. When it did so (in November 2014) the move was fairly clean but this was too soon to consider an entry (after such a long consolidation). However, over the Christmas period there have been two very bullish bars - the first confirmed a small flag and the second was on higher volume....
UPDATE 23rd DEC In London right now and just had my porridge and what do you know I spot a bullish flag. These are very common when using ABCD Fibonacci extensions. This technical analysis concurs with my previous eurjpy analysis tagged below and shows a higher target than I previously anticipated. This geometrical formation has given me more confidence in...
Overall KMX is not a great trending stock but has been in a bullish move for many years. So today I would only look for a near-term buy opportunity even though it has been trending well since breaking above the 2013 high ($53.08). In late October price broke above the 2013 pivot high and this time the move stuck. There was a retest to turn previous resistance...
I last posted on PETM on 19th November when price gapped up past the very strong resistance from October 2013. At that time I recommended standing aside until this level had been retested. If anyone bought this short-term the trade would've probably broken even or realised a very small profit. Since then price has come back to retest $77.32 and the pivot held...
CNC gapped up on Friday, despite the overall bearish move on the US Indices. This was a quite significant move as there are a number of reasons to support a continuation of the uptrend - in the near-term at least. Firstly, price gapped up above 3rd December high of $101.83 and the $100 figure. Second, this also confirmed a bull flag formation or, if you prefer,...
ABC has been in an uptrend for many years - with some periods of pullback and sideway movement on the way. In more recent times a mini pattern had emerged (on the daily chart) of a move up followed by several weeks of consolidation. This can be frustrating, even for longer-term traders. But since the gap up (on earnings and higher volume) on 30th October a...
GMCR broke through the 2011 high earlier this year, retested it in August and has since been in a reasonably linear trend. Since breaking through the more recent July high, price formed a double bottom on the resistance-turned-support line and is now in an established bull trend. This is not an opportunity for today, however, as earnings are due to be released...
CVA has just printed a bullish flag in an uptrend (on Thursday's bar). This gives a good indication that price will continue to rise (no chart pattern has 100% accuracy). However, there is not so much room for this stock to uptrend before hitting resistance at around $30 (the 2008 high was $30.37). Some breakout traders prefer to only buy those stocks which are...
LEG has been trying to breakout of a multiyear consolidation since May 2014. On the weekly chart I have drawn on the 1998 and 2004 highs (to highlight this point) and the more recent consolidation zone which lasted just over 5 months. Finally in October 2014 price made a big bullish move (on earnings and higher volume) but this was far too early to consider a buy...
Now JLL has broken and retested the 2007 high ($124.99) there is room for price to move further to the upside. There was a cluster of support at around $125 but it dipped just below this during the October pullback (which affected most stocks). It found support at the 50ma on the weekly chart but popped below the 200ma on the daily chart. Since then price has...
MDVN is looking good for a buy on a long-term strategy. The pullbacks can get a little deep, so this needs to be taken into account. This stock has been a little sticky around $90 and $100 but now price has broken and retested the figure (with a nice flag formation on the daily chart) we could see a more linear bull trend develop.
UNP has been a profitable trending stock but, as with many other positions, the October pullback was too deep to justify remaining in the trade. On the weekly chart the trend has remained pretty much intact since January 2012, even with the recent pullback. Price did not breach the 50ma, and only spiked below the 100 figure. But on the daily chart the pullbacks...