ABC has been in an uptrend for many years - with some periods of pullback and sideway movement on the way. In more recent times a mini pattern had emerged (on the daily chart) of a move up followed by several weeks of consolidation. This can be frustrating, even for longer-term traders. But since the gap up (on earnings and higher volume) on 30th October a...
GMCR broke through the 2011 high earlier this year, retested it in August and has since been in a reasonably linear trend. Since breaking through the more recent July high, price formed a double bottom on the resistance-turned-support line and is now in an established bull trend. This is not an opportunity for today, however, as earnings are due to be released...
CVA has just printed a bullish flag in an uptrend (on Thursday's bar). This gives a good indication that price will continue to rise (no chart pattern has 100% accuracy). However, there is not so much room for this stock to uptrend before hitting resistance at around $30 (the 2008 high was $30.37). Some breakout traders prefer to only buy those stocks which are...
LEG has been trying to breakout of a multiyear consolidation since May 2014. On the weekly chart I have drawn on the 1998 and 2004 highs (to highlight this point) and the more recent consolidation zone which lasted just over 5 months. Finally in October 2014 price made a big bullish move (on earnings and higher volume) but this was far too early to consider a buy...
Now JLL has broken and retested the 2007 high ($124.99) there is room for price to move further to the upside. There was a cluster of support at around $125 but it dipped just below this during the October pullback (which affected most stocks). It found support at the 50ma on the weekly chart but popped below the 200ma on the daily chart. Since then price has...
MDVN is looking good for a buy on a long-term strategy. The pullbacks can get a little deep, so this needs to be taken into account. This stock has been a little sticky around $90 and $100 but now price has broken and retested the figure (with a nice flag formation on the daily chart) we could see a more linear bull trend develop.
UNP has been a profitable trending stock but, as with many other positions, the October pullback was too deep to justify remaining in the trade. On the weekly chart the trend has remained pretty much intact since January 2012, even with the recent pullback. Price did not breach the 50ma, and only spiked below the 100 figure. But on the daily chart the pullbacks...
NU has been in a good trend since 2010/11 but it is prone to deeper than preferred pullbacks. The measured move from the head and shoulders (on the weekly chart) is currently under way and has already seen price break through the figure 50. On the daily chart price has easily cleared the 47.60 resistance and more recently a bullish flag has been confirmed (which...
UAL has not been in the best of trends although it has been heading up since the 2009 low. The monthly ranges can be large, which makes it difficult to trade. September 2014 saw price fakeout above the 2007 high so another deep pullback was not unexpected. More recently, however, price again broke above the resistance and this time has stayed above. There was a...
When looking at the weekly chart of MMC the uptrend looks very linear. Since trading above the 200ma price only once returned to retest it in October 2011. Since then it has only broken the 50ma twice - more recently with the low of the flag in October 2014. The figure $50 acted as a reasonable support - there was a small fake-out below this and the 200ma on the...
Go Pro has done very well, the earnings were very good and has now broken out of the downward channel. A great opportunity to trade this with options or stock itself.
Nice flag Bout after testing 50DMA. Nice swing long trade
With the market recently taking nose dives all around, I see more and more charts starting to look bearish in the long-term. $LNKD for example failed to make a new high and has formed what looks like a bearish flag pattern shown in chart. Obviously my timing and specifics of the down move cannot be predicted accurately, but I think this chart is worth watching to...
Market is forming a bear flag at the lows after yesterday's drop. How do you know that this is a flag? Read this bull flag post I wrote. www.ibankbitcoins.com To summarize: 1. Prices overlaps between high and lows. 2. Volatility and volume drops . Take a look on the hourly, we are at the lows. For the bulls, this could be a double bottom. Generally speaking,...
Bitcoin market price has been very choppy this weekend. There is no trend, no predictable price movement except for the fact that price tends to get stuck at 400USD/2450CNY. Looking at the 4 hour chart, we are inside of a consolidation/bear flag like pattern. If we do bounce from here, that the arrow is the likely target. Notice the last bounce touched the 50%...
week to week cadjpy registers a higher high and has been trending up for the past 5 weeks. I do not wish to try to pick the top. Instead I look to continue to trade with the trend. Right now there is channel forming , sort of like a bull flag. There is also a price macd divergence so I am looking forward to see a subsequent up move. In the blue circle, I am...
USO has broken it's uptrend a few weeks back, and since has been heading violently lower with no signs of stopping, at least not yet. Not in my eyes. I had a plethora of converging indications, so I've marked them in the chart A - F, and then explained my trade setup. Good luck. A) RSI has broken above the 35 level, but this is likely because it bounced a bit...