breakout fail, people must have entered in this breakout and will look to exit out as close to as breakeven possible.. short opportunity!!!!
You know the drill, stock at resistance, if it closes above resistance dont short if it closes below resistance short. set a stop loss close to the resistance incase this guy pokes its head out before heading back down.
On RSI-on weekly as well. @allincapital Alyoominium must cooperate.
nevermind - big vol on that candle. HAS bounced from here on 1 hr 4 hr dailies but ...
view of fib from current highs to yearly lows. Still in the first box. RSI ok, that macd tho.
Been trading within a box of the first fib retracement for quite some time. If it can just break out. It's trying.
Buy early in day. Earnings will be reported at EOD and have out performed estimates for the previous three quarters of the year.
5-month tendency to rally to 6.90-7.00 within 2 weeks. This constant trend is backed up by the upward facing candlestick today
Brought this chart to your earlier in the week. Here is the breakout.
May follow peer US Steel higher to test the mid-July highs. Bullish divergence seen.
In both March and April of 2016, CENX has hit the 8.00 mark to later jump to 8.50 within 2 week's time. It is my estimate -based on these previous rallies and the upward momentum as of late that it will once again rally to this 8.50 price point. Be aware that I take this to be a short-term trade as within 1-2 week's time I expect it to fall at or below a 7.00...
Monitoring the performance of "CENX" and "AA". If it breaks the $6.00 territory with oversold double bottom RSI I might take it for long. My profit target would be 2000 stocks @ $2.00 Maximum. But I am still watching it's performance comparing with other Industry report. I will inform when I am going to enter into the trade.
We have another similar setup here guys and again the Technical working together with the Fundamental to give us a chance to make some fortune. Wouldn't be a bad idea to let this puppy run guys... Cheerz
CENX appeared to be just finishing a head and shoulders tops formation (marked by five horizontal blue lines) spanning from Sep 2015 to march 2015. Based on that formation, the price should have retreated to approximately 10 dollars. It went slightly below that but showed some signs of stabilizing. However, CENX also posted revenues that were 26% below consensus...