Zman1175

Zman1175

Weatherford typically bounces higher from this level on the RSI on the daily chart. The stock was up nearly 5% today when my article was published before the market open. The stock is in a steady long-term uptrend which has been driven by the demand for Weatherford's oil and natural gas services. The company produces various equipment used in oil, natural gas, and...

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The daily chart above shows a strong uptrend since May 2023. However, the stock dipped since the price hit the 52-week high of $40.77. Currently, there are two bullish divergences on the daily chart. The first bullish divergence is the period between November 2023 into the beginning of January 2024. During this period, the RSI's lows remained even while the stock...

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The global AI market is projected to grow at 38% annually to reach $1.7 trillion by 2030, driving the growth of photomasks for integrated circuits or semiconductors. Photronics, a company that manufactures photomasks for IC production, expects increased demand in the 2nd and 3rd fiscal quarters of 2024. The company's low valuation and strong growth has the...

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Calix's stock declined 48% due to an overvaluation and an overbought technical level. Calix looks attractive again as the valuation improved and with the stock bouncing higher from a support level. Calix's revenue and earnings are poised for future growth, as the BSP industry is expected to grow at a strong pace of nearly 10% annually to 2030. You can read the...

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The weekly chart did reach an overbought condition, so anything can happen in the near term. However, the monthly chart shows a strong break out to the upside. A strong move is expected from the halving in April 2024 through most of 2025. That is if sentiment is positive the way it was after previous halvings. If a similar move occurs again, then Bitcoin could...

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While searching for solid growth stocks for the long-term, I discovered Mama's Creations, which is a small company with high long-term growth potential. The company is expected to continue growing revenue and earnings at a strong pace while increasing gross margin. MAMA's stock has the potential to be a good long-term investment option due to its growth at a...

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POINT Biopharma (PNT) has a large bull flag formation on the daily chart. POINT has 2 therapies in Phase 3 trials that have received fast track designation from the FDA. These means that the FDA will provide expedited review for these therapies. The results for the Phase 3 trials could take place later in 2023. Positive results for the Phase 3 trials would be...

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I zoomed all the way out using the monthly chart, which provides a long-term multiple-year perspective. We can see that the stock still has a long way to go to get back to the pre-pandemic levels. I would like to point out that the stock is overbought on the daily chart (which is not pictured here) according to the RSI. So, the stock could experience a pullback in...

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The stock is showing a strong green day which could be the start of a breakout from the current bull flag formation. First Solar's (FSLR) fundamentals support this thesis. The company has a large backlog which will take multiple years to work through. It can be cheaper to build and run a solar plant than it is to buy gas for existing natural gas power plants....

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I zoomed all the way out to the monthly chart to show the long-term support levels. We can see that HBIO is bouncing higher from a multi-year support level in the $2 range. The MACD (middle of the chart) didn't confirm an upward trend yet. However, the MACD did confirm the upward trend on the weekly chart. It looks like the blue monthly MACD line is close to...

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United Airlines (UAL) stock recently dipped over 20% as a result of poor guidance for Q1. The company over estimated for Q1. However, United is positive for Q2 based on bookings. So, if they were to lower guidance for Q2 and the rest of the year, I would say the sell off might be justified. However, that is not the case. UAL's EPS projections remain $10 to $12 for...

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Visa (V) is poised for strong double-digit earnings growth as the global trend of cashless transactions continues. The stock is valued attractively based on multiple years of growth. Visa's stock is likely to outperform over the long-term based on valuation, growth, and earnings upgrades. Visa's daily chart above shows a positive upward trend. The stock recently...

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I am bullish on United Rentals (URI) for the long-term looking 3 to 5 years ahead. The company has great fundamentals and is holding up well in this environment where we could see a recession in the U.S. in 2023. URI just reported a positive Q4 earnings with a strong outlook. The technicals show an overbought condition on the 1 day chart. So, I am anticipating a...

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Bitcoin looks like it is beginning to drop from an overbought condition on the 1 day chart. There is bearish divergence as the price increased while the RSI declined. The MACD just made a bearish crossover to the downside. This could be the beginning of a sharp correction. The same is happening with ETH and other alt coins.

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Ethereum could be ready to move lower as the daily chart shows the MACD with a bearish crossover. The RSI also began a new downtrend. Bitcoin is close to turning over on the MACD, but it didn't happen yet. We could see a bigger drop over the next few days into next week. Of course, we'll have to see how the market interprets the Feds meeting on 1/31 and 2/1.

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After the day's sell-off, COMP is recovering. The bullish divergence (RSI making a higher high and price making a lower low) shows that the price is likely to rise from here. The blue MACD line crossed above the orange signal line, indicating a change in trend. The price may rise to the recent 57 to 58 level. Potential short-term gain: 3% to 5%. No guarantees...

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The daily chart of the US dollar (DXY) shows bearish divergence. This occurs when there is a higher high in the price and a lower high on the RSI over the same time period. The blue MACD line also crossed below the red signal line, indicating a change in trend to negative for the dollar. This set up indicates that the price of the dollar could fall further to an...

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Although the action in the stock market has been bearish and we could be in the beginning stages of a longer-term bear market, there is now a bullish divergence on the SPY daily chart. This occurs when the RSI inclines upward while the price declined further downward. The price action typically increases from a near oversold level to higher levels when this...