2 year trend line has been severed with a break below the 50ma, daily death cross and a MACD that crossed the zero line for the first time in nearly 2 years.
Will be monitoring $EWZ over the next few weeks to see if this 3.5 year shit show is turning a new leaf with the recent break of a major downtrend line (2 variations drawn) on a positive divergence in RSI, and a slowly uptrending MACD that crossed the zero line and is at levels not seen since early 2012. The downtrend line of momentum on a weekly relative basis...
Blue line/$50.50 = long July call entry, momentum supporting triangle breakout, PT of April swing high
Deckers Outdoor Corp has spent the first half of this year grinding out a weekly pennant after a 100%+ move FY 2013. The interesting part about this 6 month pennant is that it represents the cup to a 2.5 year cup and handle formation. With RSI remaining in the bullish zone, minimal OH resistance, as well as a MACD cross on the daily I'm anticipating an explosive...
Copa Holdings is grinding out a massive base with momentum supporting it on a relative/absolute basis
$FB is mirroring the cup and handle formation of it's industry, meaning it's success/failure depends on its price action. $PNQI is looking prime for a cup and handle breakout, with RSI in the bullish zone after putting in higher lows while price was still advancing to the downside, and a bullish MACD that recently crossed the zero line. First point of resistance...
Credit to Greg Harmon for putting this on my radar. Diving into the price action, Facebook's 2 month sideways grind may be coming to an end as price hugs channel resistance in a bullish cup and handle formation. Respecting fractal behavior, the pullback/consolidation touched down exactly on the 61.8% fib measured from last November's swing low to the March highs....
Potential breakout coming after long term range.. measured move puts price target at $60, also converging with a prior swing high, RSI+MACD support a breakout
Energy Sector isn't looking too hot on a relative basis vs. the S&P500. After a neckline break of a head and shoulder variation, price has failed to remount and instead has formed a tight triangle biased for the downside. Hovering beneath the 23.6% fib retrace, the measured move (head to neckline) puts a price target to the 50% fib. This bearish thesis for...
American Equity Investments is currently consolidating in a long term pennant formation after a year long 100%+ run up. Looking into the intermediate daily price action, some interesting moves have been taking place which may lead to a breakout/next leg up. While it's still early, the recent inverse head and shoulders neckline break above the 50 day ema marked an...
Although not as liquid as would be preferred, Diamond Resorts has a potential double bottom pop up at gap support on the horizon. The $19 dollar mark has just been successfully tested for the second time, as RSI has remained bullish bouncing off the 50 line. While the May resistance line has been broken, price remains in a range and I would like to see the upper...
Price action is tight around all time highs.. 3rd watch setup with RSI remaining in bullish zone
$BDX is moving towards a 3rd watch after a double top 50% fib pullback. Positives: riding 20 ma, with 50+200 supporting upward momentum, RSI refusing to break 50 maintaining bullish position, MACD crossover. Negatives: upper BB not supporting upward price action, want to see bullish volume pattern.
last week's bear call spread on $CCE is playing out nicely