jaxdog

jaxdog

AMEX:ARKK Mark Minervini made famous the VCP as a set-up. It is also simply a wedging pattern that can break either way. However, where there was a previous uptrend, like in this chart, the direction of the break is usually to the upside. The path of least resistance is a continuation of the previous trend. ARKK had a move of over 60% from the Oct 30th low to...

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AMEX:XBI Formed a flat base from early January to late February before breaking out. You can see on this chart it is either a failed break-out (with more downside to go) or it is retesting that breakout area and will soon resume its upward trend. All TBD. In addition to coming down to the breakout area it looks like it “may” be getting support at the 50 DMA...

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NYSE:PLTR Here is a strong one for your watch list. This is perfectly normal action (so far) for a stock to pull back to its breakout area. It is pulling back on declining volume. All this is textbook action. I will be looking for the resumption of uptrend before I get involved. That could take a day, a week, or more. Patience will be key. I will update this...

jaxdog

I got into this one on Mar 6th when it re-took the 20 EMA (green) where it also found support at the 50 DMA (red). My plan was to bring up to a full-sized position on a breakout over 41.07. However, on the 13th when it did break above that it promptly pulled back. Fast forward to today once it moved back over Friday’s high (which again found support at the 20 EMA)...

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If you look at this chart of Schwab, you can easily see the cup w/ handle formation. It has broken the blue downtrend line and is taking on good volume this morning. I have started a one-half size position here as the risk reward is exceptionally good. My stop will be below the most recent low which also corresponds with the 20 EMA (green). This could easily move...

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NASDAQ:Z has had a nice move off its recent bottom of around 76%. Sorry to say I missed it. However, it has now been consolidating those gains for about 80 days now. It recently dipped below the 50 DMA (Red) and has now recovered for the last three trading days. I like that the 5 DMA (White) is now above all the Moving Averages. I have started an early entry...

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Stodgy old NYSE:IBM has had quite a run over the last few months. I am sorry to say I have missed it. Earnings are now out of the way and as you can see, we have a 3-weeks tight pattern. It has recently been setting new 52 week highs as well. If you are a Wiiliam O’Neil follower, he states in his writings that a 3-weeks tight pattern can lead to some serious...

jaxdog

I do not know how long this has been available on @TradingView , but I just discovered it and wanted to make sure if you didn't know about it, I would bring it too your attention. On the SP:SPX chart at the bottom when economic data is going to be announced or recently announced, click on the "Flag" icon(s) to see what it is. For example, jobless claims,...

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NASDAQ:AAPL I like how this is setting up. It looks like it has held the $180 “area” for a month now. It has had some good rallies from that area. I am looking for it to break above that steep blue downtrend line. It has captured the 5 DMA (white) and looks like it could take the 10 EMA too. All TBD. My plan is to go long on a break of the downtrend line with a...

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NYSE:PFE is certainly a dog but, it has put in a higher low and the moving averages are starting to turn up. I like to go bottom fishing occasionally. PFE is my new candidate. I have an alert set just above the current price where it may move above short-term resistance, around the thin blue line. If it triggers and I take this trade, I can put a stop close by...

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Looking at this weekly chart it looks to me that sellers finally capitulated the week of November 13, 2023. Since then, it is mostly green accumulation, and it is holding price on lower and lower volume. You can see the flat base as identified with the LevelUp chart. I had a position earlier this week and stopped myself out for no gain. I re-entered today in...

jaxdog

AMEX:XLB a basic materials ETF has been basing for almost a year. Today it broke out just above the most recent flat base. As auto generated by this LevelUp chart. I have started a ¾ sized position as it is a slower mover so I can go bigger to start a position. My stop is just below the most recent low, which is just over a 5% stop loss. Ideas, not investing /...

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NYSE:TGI I have had my eyes on this one since the big volume breakout on December 21st. I did not want to chase it, so I have been waiting for a pullback and re-breakout. I have that this morning. See chart for notations. I started a one third size position here with a stop on any close below the breakout trendline. Ideas, not investing / trading advice....

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AMEX:BITO Kathy Woods AMEX:ARKW fund sold OTC:GBTC and bought $92mm AMEX:BITO yesterday. They also sold $COIN. There is the news. I am more of a technical trader, and I like the set-up on BITO here. I have started a one third size position in the anticipation of a break above the small consolidation area or pennant. My stop is tight, just below today’s low...

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NYSE:XOM this is a remarkably simple U&R play. I have gone long with the undercut and today’s reversal from the low on December 12, 2023. That low was $97.48. It broke above that this morning. My stop is simple. If it closes below $97.48, I am out because it will tell me it is resuming the downtrend. Should it push higher tomorrow, I will add to my position. All...

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NYSE:FIS has been forming a base for about a year. I like how it is above the 50 DMA and all other shorter term Moving Averages. It is, however, still below an 18-month AVWAP (meaning that going back 18 months, stockholders by price and volume are slightly underwater). That may be an area of overhead resistance. It is under the 40 Week MA which can also be a...

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NASDAQ:MDB This one is high on my watchlist. If it can bounce off the upper downtrend line it will look to me to be a successful re-test of the breakout on Monday, Jan 22, 2024. This would coincide with a bounce off the 50 DMA area (red line). This area provides a well-defined risk reward area for me. One to consider if it fits your trading style. Ideas, not...

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AMEX:MSOS is a Cannabis ETF that looks to be basing for the last 4 months. Cannabis stocks have not been on my radar for more than a year. It looks like institutions are getting interested now. Since that appears to be the case, I am interested too. Maybe this should be on your watchlist too. See chart for my notations and thought process. I have an alert set...