After the Iranian nuclear deal, analysts were all talking about how oil was headed much lower in the short term. Oil barely opened down today and is hovering at $33.74, -0.30 (-0.88%) on the United States Oil Fund LP (NYSEARCA:USO). While the lack of a major drop in oil was surprising to analysis and Wall Street traders, this was no surprise to me. Everyone knew a...
Canadian Solar Inc. (NASDAQ:CSIQ) has run into a major double top from 2010. This is a classic swing trade short as a pull back is now expected. The stock has run from $1.95 to $33.25 in less than a year. This is an epic move of 1600%. A likely pull back target would be $26.00. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
Bullish consolidation along the 20MA with a potential breakout today. Dead bottom chart, with lots of potential short covering. Gareth Soloway www.InTheMoneyStocks.com
Chipotle Mexican Grill, Inc. (NYSE:CMG) has recently run into an epic trend line that signals a longer term top in the stock. This trend line stretches back to 2007, 2012 and now 2013. Each time this level has been reached, the stock has pull back significantly. A pull back over the next 6 months could yield an easy target of $450.00. Gareth Soloway Chief Market...
This morning, the leading semiconductor equipment maker KLA-Tencor Corporation (NASDAQ:KLAC) is coming under some selling pressure. Earlier today, the stock was downgraded by to neutral by Susquehanna. KLAC stock is now trading lower by $2.17 to $62.60 a share. Day traders can watch for intra-day support around the $61.97, $60.88, and $60.45 levels. These support...
Last Wednesday, October 31st, 2013 the Federal Reserve released their FOMC policy statement. The market that morning hit a high on the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) of $177.51, before reversing dramatically. This high of $177.51 in the market has been hit each of the last two days. Each time it has hit this level, major selling pressure has come in as...
One of the leading sectors that most traders and investors follow is the transportation sector. Today, the transports are falling during the session. The iShares Transportation Average ETF (NYSEARCA:IYT) is declining lower by $1.01 to $125.73 a share. When the transports decline many investors believe that it is a sign of economic contraction. Regardless, as...
This morning, leading digital telecommunications manufacturer Qualcomm Inc (NASDAQ:QCOM) is coming under some selling pressure. The stock is trading lower by 0.63 cents to $68.94 a share. Day traders can watch for intra-day support around the $68.51, and $68.00 levels. Both support levels can give the stock a small bounce during today's trading session. Nicholas...
CVS Caremark Corporation (NYSE:CVS) is coming under a little bit of early selling pressure. Short term day traders should watch for some intra-day support around the $61.90 level. This is area that should see a short term bounce. Nicholas Santiago www.InTheMoneyStocks.com
This morning, leading technology stock Google Inc (NASDAQ:GOOG) is declining at the start of the trading session. Day traders can watch for intra-day support around the $1018.00 level. This is a spot on the chart that signals a potential intra-day bounce. Nicholas Santiago www.InTheMoneyStocks.com
XOM should have very strong chart resistance around the $92.00 area. This is a level where the stock staged a failed breakout attempt in late July 2013. So traders should continue to look for strong resistance around that level. Currently, XOM is starting to look overbought on the daily chart, so there is a chance that the stock may not be able to trade into the...
This morning, leading energy stock ConocoPhillips (NYSE:COP) is coming under some selling pressure. COP stock is trading lower by 0.71 cents to $73.64 a share. The stock is pulling back from a new 52-week that was made just yesterday. Traders should watch for intra-day support levels around the $73.27, and $72.95 levels. Both support areas could give COP stock an...
YRC Worldwide, Inc. (YRCW) has been pounded recently. The stock has fallen from a 52 week high on July 11th, 2013 of $36.99 to a low today of $9.23. The fact that the stock has fallen that much in a few months really has nothing to do with it being a good long. The key to the high probability of a bounce comes into play when looking at the daily chart and...
Chinese player Sohu.com Inc (NASDAQ:SOHU) is taking a pounding today on a weaker sales outlook. The stock is trading at $68.43, -12.99 (-15.95%). As the stock takes a beating, a level emerges that may just be a great long opportunity. This happens to be at the lows from August 2013 and also coincides with the daily 200 moving average. I have this level on alert in...
This morning, everything gold is trading higher on the trading session. The popular SPDR Gold Shares (GLD) are trading higher by 0.64 cents to $131.13 a share. Meanwhile, the Market Vectors Gold Miners ETF (GDX) is trading higher by 0.39 cents to $26.71 a share. These moves in gold and the gold mining stocks are taking place ahead of the highly anticipated Federal...
Leading agricultural products maker Monsanto Co (NYSE:MON) is trading lower on the session by $1.24 a share to $106.38. The stocks seems to be trading lower in sympathy to most other stocks in the sector. Earlier today, leading agriculture company Potash Corp. of Saskatchewan Ltd (NYSE:POT) reported that their third quarter profit declined by 45 percent. This news...
Today, the major stock indexes are coming under broad based selling pressure with most industry groups trading lower. There is one sector that is in rally mode, and that is the oil refinery stocks. Leading oil refinery stocks such as Phillips 66 (NYSE:PSX), Tesoro Corporation (NYSE:TSO), Valero Energy Corporation (NYSE:VLO), and Western Refining, Inc. (NYSE:WNR)...
Visa Inc (NYSE:V) has had an epic run like many other stocks in this Federal Reserve inflated market. Today, the stock looks like it has topped. Note the trend line the stock slammed into today and the reversal taking place. Also, a potential topping tail makes this play sweet. This is a great setup for a near term pull back. Gareth Soloway Chief Market...