Opportunity to go long KTOS on the breakout from the symmetrical triangle. First PT 19.01, which is one penny below the YTD high of 19.02. Second PT of 19.48 would take the stock to a new 2023 high. SL at 18.21.
This is not a trade. I'm just flagging the fact that there's a symmetric triangle in play for WIRE. I've been long the stock for well over a year because I like its fundamentals. Given these fundamentals I'd be surprised to see this triangle to break to the downside, but until it breaks in either direction there's no setup to go long or short. This might just be...
I think the AAPL "Wonderlust" show today was a disappointment to all who were hoping for an exciting new product to get announced. While the presenters did their best to hype all the "firsts" and "bests", it feels like nobody much cares anymore whether they have the latest and greatest phone. No matter what phone most of us have, it's probably capable enough,...
RWT is at the high of the day and about to break into the gap that was created when the stock dropped following the last ex-dividend date in September. As always, this can go different ways: Maybe it keeps marching up to close the gap, maybe it drops back down into the declining regression channel that goes back to the high from the beginning of September. Maybe...
I am becoming bullish on energy stocks, in particular CVX. First my technical rationale: CVX has consilidated over the past 3+ months in an unusually tight range. On Friday, the stock ended exactly on the POC for the trailing 3 months. Despite a number of headwinds (see below) CVX remains in the context of an uptrend. CVX and XLE (the ETF it is most closely...
AMEX:UNG 's hourly chart shows both a double top and a double bottom pattern. Neither of them has reached their price target, yet. There's also both a rising (intermediate term) and a falling (short-term) trend channel visible. On the face of it, the bearish patterns seem to have a bit more credibility: Double tops have a higher win rate and a higher profit...
O put in a double bottom today. This is usually a highly reliable bullish pattern, but O is in a very steep downtrend on longer timeframes, so this might be an exception. Instead of trading the short-term pattern, I hope that it asserts itself, leading to a better entry for a short position. If O were to reach T2 at 54.93, it could be expected to close the...
It looks to me like TSLA will fail to break through both the VWAP since the July high an the top of the declining short-term trading channel. I expect a decline down towards the bottom of the rising intermediate-term trading channel. Fundamentally, I think that the weakness in Chinese Yuan and the Chinese economy, as well as the price cuts, increasing EV...
I am looking for a short entry to LVMUY based on the double top pattern. Louis Vuitton Moët Hennessy (LVMH) presents with two conflicting chart patterns, which are drawn using @LonesomeTheBlue's excellent HPP indicator at the default settings. Based on the statistics provided by that same indicator the Anti-Gartley is the slightly more compelling one with an 80%...
I expect NYCB to hold its rising intermediate trading channel, and to challenge and break its declining short-term trading channel. I expect this to resolve in the coming week, and if it indeed resolves as I anticipate, I intend to initiate a long position. My interpretation of US equities markets is that, following a euphoric July, market participants got...
It looks like WTI crude oil futures will close up today. That will be the ninth consecutive day that they are rising. In the last 23 years that has happened on only 8 previous occasions. In all but one of these 8 times, crude oil snapped the winning streak the following day. The mean return for all 8 occasions is -0.9%. I am going short USO as a short-term...
I was looking for some short exposure for next week, and landed on JPM on my target. My rationale: I expect that some of the pre-holiday cheer will turn to hangover by next week. JPM is at the upper edge of its declining 1-month trading channel There's a highly predictive broken triangle pattern DXY is zooming today, without anyone paying much attention,...
For full disclosure I've been a long time holder of MLI. I love this company for its fundamental strength: They are a market leading, cost-advantaged provider of copper and brass tubing, fittings, and valves for the construction and HVACR markets. The company repaid all its long-term debt a couple of years ago, and has diligently expanded and upgraded its...
Going into Labor Day weekend I like to have a little short. TSLA has outperformed over the 2-yr, 1-yr, and 6-mo time frames, but has under-performed more recently. The upswing over the last 10 days may prove to be a counter-trend move in the context of the downtrend. There are a number of related harmonic patterns that are suggesting as much. Beyond that, I...
The Supreme Court has asked the Biden administration to comment on the RoundUp weed killer case before it. Bayer execs see this as an indication that the court is taking an interest in it, and appear hopeful that the glyphosate litigation can finally be put to rest without adding to the already staggering cost to the company. The 2018 acquisition of Monsanto,...
I am long Aegon (AEG), having first bought it in 11/2020, and adding to it in 6/2021. AEG was, and remains, a turnaround play. Aegon is a European insurer, headquartered in the Netherlands, that also operates in the US through its TransAmerica subsidiary. European financials tend to trade at lower price-to-tangible-book-value multiples than their US peers, but...
UPLD just ended the week with a tiny gain. This would not be noteworthy, except that coming into this week, UPLD was down for a staggering 11 (!) consecutive weeks. The stock peaked in April this year, just underneath its ATH and subsequently drifted down. Once it fell below its VWAP-since-IPO level and couldn't regain that level, the dismal streak got started....
I think YNDX presents an attractive entry at its current price. The stock has been trending upward since late 2016 (see regression channel). Yesterday, amid broader weakness in Russian names following the US-Russian dispute over alleged gas attacks by the Syrian army, YNDX dropped from the middle of its regression channel all the way out. Today that weakness...