Identify the GAP up and GAP DOWN opening and plot the line. Strategy when GAPUP identified Buy and target for few 100pips. 1.Color automated Lime candle shows one ahead candle of gapup 2.Black candle shows gapdown. 3.Line drawn for GapUp,GapDown
This is easier seen on the 5min chart. The S&P 500 has put in an Inverse Head & Shoulders Pattern. This is a reversal pattern. Look to buy the Neckline or the Breakout (shown on chart). Look for Targets around Gap fill.
After so many absurd gaps up it's time to deflate the balloon a bit. Strong MACD indicators for NFLX retracing
Earlier this month RL broke down below recent support and beyond the consolidation zone where price has been trading since mid-2013. The downtrend began to develop a few days after the earnings announcement on 4th February. Throughout the majority of February price has been trading between the lows of 2014 and 2012 - with 2012 acting as support and 2014 as...
Initially, when I saw the gap down on YELP, I thought this stock looked good to short for a near-term gain. I usually concentrate on the weekly and daily timeframes and, with the gap down breaking through previous support, the $50 half figure and with higher volume, this looked like a great shorting opportunity - as there appeared to be no further support for some...
I last looked at JOY on 12th December 2014 when it gapped down (confirming an inverted cup and handle formation). At the time there were still a few support zones to tackle - plus earnings. So although I felt that in the longer-term price would continue to fall I wanted to wait for price to clear these hurdles. Unfortunately this meant waiting for the cup and...
Price gapped down again. I shorted more when price met the second gap. If price makes either of these gaps again, short more
FCX has just gapped down below $20 producing a potential bear flag on the weekly chart. This is a good near-term trading opportunity but this is very short-term only - as earnings are due out on 22nd January. However, if the downtrend stays in play, earnings could add to the bearish momentum. It took over 18 months for price to break below the June 2013 pivot low...
JOY caught my eye because of the inverted cup and handle formation - which Friday's gap down confirmed. Initially I thought this could be a good near-term shorting opportunity because price had broken below $50 and recent support - and the measured move could've made this worth considering for a quick profit. However, on closer inspection there are a series of...
If you like shorting stock in an overall bull market DRQ offers a good opportunity. It gapped down yesterday on higher volume giving a good signal to take a near-term sell. This stock is already in a solid downtrend, trading below the 200dma. It recently formed a double top in a downtrend, broke recent support and retested it - and now it has gapped down on...
There are a lot of energy stocks, which have gapped down, on our list today. Many provide near-term sell opportunities but I felt the best of them was NBL. Looking at pivot highs and lows on the weekly chart, NBL seemed to have plenty of room to manoeuvre (about 800 points before the next major support). The daily gap down (on higher volume) broke below...
RIG has been bearish since the 2008 high, so with the last bar gapping down on higher volume a near-term sell opportunity looks like a good play. Price had been going mostly sideways, since the end of 2012, offering a strong support at around $38. When this was broken and retested (turning support into resistance) in August/September 2014 a new bear trend began...
There are three reasons why I am not looking to take any new trades today. Yesterday was a bank holiday in the US, today is apparently a half trading day, and finally it's the last trading day of the month. To me this means volatility may be affected and I'd rather stand aside than get whipsawed. However, if I were to take a near-term short opportunity the set up...
For a long-term trade DRN is not a great shorting stock. It closed yesterday at $10.01 so there is not to much further for it to fall. But with the gap down on higher volume a quick short could be on the cards. Price has just managed to close below the 2001 pivot low of $10.20, but remains marginally above the $10 round number and I would've liked to have seen a...
If you're looking for a sell opportunity then DDD looks promising. The decline has been steep since the high (which didn't quite touch $100) at the end of 2013. On the weekly chart price looks almost certain to end the week below the 200ma. If this does occur then a shorting opportunity may present itself (although we should wait one more trading day just to be...
MDRX has been in a messy downtrend for a few weeks so Friday's gap down, on the earnings announcements, did not come as a surprise. As volume was also up there is a good probability that the bear move will continue. However, because the trend is not very neat and because there is support at $8.84 this is a near-term shorting opportunity only. That still gives a...
Perfect gap and go. White candles on the prior daily, hourly, 15 and 5 min. Also cleared a pivot (prior support). Trade should likely continue lower.