We are seeing a very similar pattern to the one we saw just a month ago. Increased volume on the break, 20 RSI remaining bullish above the 50 line and crossing above the 10MA, MACD moving toward bullish crossover. 200MA and 100MA moving up steadily, short term GMMA consolidating with price and now turning towards the upside with a very bullish close on Friday.
Reasons:
- Price has broken above the 20 and 50 sma's which have been acting as dynamic resistance
- Price is just above the 200sma (purple) which has been acting as dynamic support/resistance
- Price has broken above trend line (dashed line) which price has been bouncing off of for the past month
- TRIX indicator has gone positive
- Price has continued to find...
Reasons:
- Class A bullish divergence on the MACD Leader
- MACD tightening, looking like it is going to turn into a buy signal
- Bullish engulfing candle
- Increasing volume
- Price currently reversing off of long term support/resistance zone
Looking for a swing up to $5.98 for a return of 5.58%
Exelixis has come to a stop after many months of upward movement, it is now consolidating around 52 week highs, and I am looking for a short opportunity on a large pullback.
Reasons:
- Class A bearish divergence on the weekly & daily chart (RSI, MACDL) + Acc/Dis (Daily only)
- Accumulation/Distribution line has dropped below the 9EMA on the daily chart. The...
AMD has shown no signs of slowing down, until now. After the mixed reviews of Ryzen, which was initially a reason for all the hype around AMD, investors are selling. With even the largest investor dropping 45 million shares at $13.70. This is all as AMD was hitting a near 10 year high, which also happened to be a major resistance/support level.
On the weekly...
CGC's daily chart is looking almost identical to the stages in a bubble chart, and with the stock being up over 200% since the beginning of October, it is certainly inflated. This is just a generalization, but still it's interesting that it looks so similar.
For those who are unfamiliar with the stages in a bubble chart:
people.hofstra.edu
The volume that originally had begun this strong uptrend has dwindled away. Now it looks like price has bounced off of this year old resistance around $2.84 for the third time. Entered short position at $2.82, with a stop set at $2.94, looking to take profits around $2.54
