NKE has cropped up quite frequently on our breakout lists lately. It doesn't have a very linear history (pullbacks tend to be too deep for most risk management structures). But since breaking above the $80 mark it has offered several opportunities to buy. The October pullback was not too deep, remaining comfortably above the daily 50ma. Once price broke $90 NKE...
Many traders like to trade IPOs and new stocks as the volatility is considered to offer good opportunity. But as a technical trader I find it difficult to trade a stock for which there is less than 5 years data. There is a limited history of how the stock reacts to events - which makes them difficult to analyse. In the case of ABBV a pattern is now beginning to...
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...
LM reached a high of $140 in 2006 before plummeting to almost $10. Since then we have seen price bottom out (forming a cup and handle on the weekly chart) and begin a bullish wave up. During August and October a double bottom formation occurred - confirmed in November with a break of the neckline. The weekly double bottom presented itself on the daily chart as a...
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...
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...
SRE has been a good long opportunity since breaking above the $72 zone. On the weekly chart the 50ma has acted as support throughout the trend. While the pullbacks on the weekly have all been within the normal parameters they have been a little more cumbersome to trade on the daily chart. The last two deep pullbacks both dropped to test the 200ma and figure 100...
Nice flag Bout after testing 50DMA. Nice swing long trade
The 50MA has provided an almost unbreakable support for HPQ since the beginning of the year. Although the stock has consolidated the past week or so I see the rally to continue in light of earnings on the 20th towards the $37 price.