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Weekly Doji for Facebook should affect next two weeks tradingIf you look at the weekly chart for FB, you'll notice that the weekly Doji's on 12/22/14, 3/23/15 and 4/20/15 all made lows three weeks after the Doji week. On the Doji 2 weeks ago on 5/18/15, Fb was lower the next week, it should be lower the following 2 weeks also imho. The average drop for the 3 previous Doji weeks was $4.97 from the Doji close to he low three weeks later. You'll notice that Chaikin money flow has also dropped on the weekly chart. A daily chart shows a sell using the stochastic indicator and also the Directional Movement Indicator shows FB is in a downtrend. Fb has been weak lately, unable to hold above its 50 day moving average and fell below the 200 day moving average briefly. I expect another test of the 200 DMA this week or next and a close below it. Last quarter revenue was sequentially lower than the quarter before and in the January conference call, the company said to expect revenue to decline 5% this year due to expenses and the rising dollar. I'm short Fb with June puts. I expect Fb to decline to 75.51 by June 12.
FShort
by FDNYret
JLL gaps up but remains below pivot highJLL yesterday gapped up on higher volume and a good earnings report. But it hasn't yet comfortably cleared the recent pivot high of 2nd April. I last looked at JLL 5 months ago in November 2014. The analysis suggested price would be heading higher - which it has done. But some of the pullbacks have been a little deeper than a trend trader would have liked - breaching the 50sma support on a couple of occasions. These pullbacks were within acceptable limits but a more linear trending chart would not have caused as much equity volatility. Yesterday's spinning top/doji - and the fact price failed to break above the recent pivot high in a meaningful way - means that momentum is not as strong to the upside as I would like. I would expect to see a continuation of the uptrend but we need to see a bit more conviction with a stronger, more bullish bar. A possibly buy opportunity in the near future.
NYSE:JLLLong
by iAnneTrader
Set-up of the Week - GBPUSD = GOOD CONFLUENCEThe GBPUSD has been ranging for a just over a month now but this choppy consolidation began to show signs of movement again by the end of last week. This week we have finally seen some real movement and it appears to be ending with a nice little set-up. There is some heavy resistance on the Bullish side with the 50ema laying on thee 1.5000 level, which has acted as major Support and Resistance in the past and again recently. Depending on whether you choose the Daily or Weekly chart to draw your Fib Retracements you'll see that levels lay either side of this price. We have chosen the Weekly chart. From this you can see throughout today price briefly managed to breakthrough and bounce of the 0.5 Retracement a strong reaction to this caused price to rally back down creating the Inverted Hammer we now see. With 2 hours left till the close for the weekend, we can't see this changing at all. Thus we have 5 string factors of confluence - 1. Inverted Hammer 2. 1.5000 Resistance 3. 50ema Bounce 4. 0.5 Fibonacci Retracement 5. Trading with the Trend For more analysis like this and to learn our strategy for free (no registration required) please visit forexvader.com Happy Weekend!
Short
by ForexVader
1
Russell 2000 Looking for Lower GroundThe Russell 2000 boasts a whopping 89.27 P/E ratio and a dividend ratio of 1.36 percent. There actually is sometime that pays less than a US 10Y (for now). Seemingly an index that is traded off of technicals, traders could see today's rapid pullback as the beginning to a larger correction. After a double-doji top, the Russell 2000 could not expand upon all-time highs (NASDAQ is next). Price action on the daily chart was nicely confined within an ascending channel before breaking through and quickly topping. Noticeably, price action formed an ascending wedge. This is a bearish reversal pattern. I began noticing that assets that were out of vogue, like gold and silver, were presenting descending wedges while those favored are looking toppy and forming ascending wedges. I digress. Wedge support will be the most likely support level near 1,227, while price action will see 1,220 where price action and the 50 EMA (currently) is holding up. Ultimately, the Russell 2000 can see sub-1,200 in mid-to-late April. Record accumulation looks to start seeing a period of distribution, and price action is switching from bullish to bearish.
RShort
by CommoditiesTrader
5
MNK trending well since breaking $100MNK is not a stock I would normally consider as it only has data going back 18 months or so. However, it has been trending up that whole time and, since passing the $100 figure, has begun to trend well. Prior to breaking above $100 the pullbacks were quite deep - frequently breaching the daily 50ma. But as price approached, and tested, this zone the 50ma began to act as support. There was a doji just below the resistance and, later, a spinning top retest as $100 became support. On 16th March there was a breakout bar (on higher volume) followed by another bullish bar yesterday. Volume is good on this stock so a buy opportunity beckons.
MLong
by iAnneTrader
FSL gaps up for a second timeFSL gapped up for a second time on Friday and has now comfortably cleared the 2014 high. As this stock has not been trading for long it is more difficult to gauge how relevant the recent gaps have been. Certainly they both exhibited higher volume. But neither bar was bullish, which is preferred for a gap up. So saying, the current uptrend (established in early December 2014) is linear so, over the longer-term, the trend is likely to continue - if FSL has now become established. I would say it's early days for FSL as yet - but if you like to trade less established stocks then this looks set to continue higher.
FLong
by iAnneTrader
BAH earnings due todayEarnings season can be quite frustrating but with BAH we only have to wait for today's session to close before we can reassess it's worth. The earnings announcement is due before the markets open. This stock hasn't been trading very long, so is not one I would normally consider. Volume is also low so for that reason I will most probably rule it out - for now. However, if these are not an issue with your trading plan then BAH is worth a look. During the second half of 2014 a rather nice rounded bottom formed - it looks more uniform on the weekly chart. On the daily chart it appears to have tried a cup and handle but the handle failed. Since then price has retested the previous resistance three times but managed to stay above (with only minor breaches).More recently there was a doji bounce from the daily 50ma. The measured move from the rounded bottom does not appear to be quite complete but with earnings due today, and the $30 round number not yet cleared, it is worth standing aside until these two issues are past. But longer-term a buy opportunity seems likely.
NYSE:BAHLong
by iAnneTrader
EW breakout in an established uptrendEW has been on my watchlist for sometime. It was a great trending stock throughout 2014 but became of real interest when it it gapped up above the 2012 pivot high in October last year. Since October it has continued to trend up well, with several bullish flags but, over the Christmas period, has gone into a mini-range. This mini-range could well be a double bottom - although the neckline is a little high to technically be categorised as one. However, the two bottoms are good reversal candlestick patterns with the doji bouncing from the 50ma. Yesterday's breakout bar (12th January) was reasonably bullish and had slightly higher volume. Plus the mini-range, so far, has not been long in duration. Overall this indicates that price is likely to continue with momentum to the upside.
NYSE:EWLong
by iAnneTrader
GGP breakout but resistance aheadGGP has fallen a long way from it's 2007 high but has been steadily creeping up since bottoming out in 2009. This stock started to trade above the daily 200ma earlier this year but was still not displaying the hallmarks of a strong trend. The pullbacks, while not excessively deep, were quite prolonged and kept retesting the 2013 pivot high. Since September we have seen a large rounded base followed by a smaller one and now a bullish flag (with a doji at the extreme). But while GGP looks to continue it's trend to the upside there are several resistance levels ahead, one of which being the $30 mark. There are probably better opportunities worth waiting for.
GLong
by iAnneTrader
RCL gaps up on higher volumeUntil earlier this year RCL had been in consolidation since 1999. After price finally broke above $58.88 a good trend began to develop but was seriously hindered by the October pullback. This breached the 1999 pivot high and the 200dma but it was not all bad news - a cup and handle chart formation developed on the daily chart suggesting a move to the upside could continue. The first gap up (28th November) was maybe a smidgen early - although perfectly valid as previous resistance had been tested to become support. The current gap up, however, is on very high volume and a bullish bar so a good candidate for a near-term buy. A longer-term buy may also be on the cards but more cautious traders may want to see a bit more of the trend develop before making a long-term commitment. The longer the consolidation then the bigger the breakout - if this holds true there should be a lot more to come from RCL.
NYSE:RCLLong
by iAnneTrader
FDX gaps up with bearish barsFDX has been moving up since it's 2009 low but took some time to regain the ground lost from the 2007 high - with a long period of consolidation along the way. Since breaking above the 2007 high ($121.42) late in 2013 price has still struggled to fall into a linear trend. However once price broke - and retested - the $150 zone a smoother trend has developed. In the last couple of weeks FDX has gapped up three times on higher volume. While this should indicate strength, to the upside, the move as been most peculiar - each breakout bar has been bearish. For this reason it may be prudent to wait a while to see how the trend develops. This may mean standing aside until $200 is cleared.
NYSE:FDXLong
by iAnneTrader
RIG gaps down on higher volumeRIG has been bearish since the 2008 high, so with the last bar gapping down on higher volume a near-term sell opportunity looks like a good play. Price had been going mostly sideways, since the end of 2012, offering a strong support at around $38. When this was broken and retested (turning support into resistance) in August/September 2014 a new bear trend began to develop. This would've been very early to short this stock so a break of the more recent pivot low of $27.91 offered a firmer opportunity, for longer-term trend traders. Trading the last bars gap down (on higher volume) offers a near-term sell opportunity - with the next level of support at around $18 -$19. However, I am not looking to enter any trades today due to the US holiday yesterday.
NYSE:RIGShort
by iAnneTrader
ROST gaps up on earningsROST could offer a good near-term buy on Fridays' gap up on higher volume. The bar was very bullish - adding to the momentum to the upside - and easily cleared the 2013 pivot high. For longer-term traders, however, the large gap up could easily be filled - so we would want to see some sort of pullback or retest of the 2013 high before considering this a buy opportunity. And by that time we could well be approaching the psychological resistance of the 100 figure. Since breaking above the 200dma in August the trend has been very linear so if this continues and price clears $100 then a long-term buy could be in the offering. One for the watchlist.
NASDAQ:ROSTLong
by iAnneTrader
MMM strength to the upsideMMM has periods where it trends really well. But this year there have been two deep pullbacks which would've stopped most trend traders out of their buy positions. Since price broke above the September pivot high the candles have not been overly convincing. There was a gap up on 31st October but it was a doji, followed by a gravestone doji, which did not inspire confidence. However, the next bar broke out on higher volume so this could've been the first opportunity to get into this trade. Yesterday another bullish flag was confirmed (on higher volume) offering traders the opportunity to now consider entering long on MMM (or add to their trade).
NYSE:MMMLong
by iAnneTrader
7