BAC Bearish Bat pattern is still valid as the price consolidates inside the PRZ, below two broken uptrend lines. As the markets await Yellen and the Fed, Financials are stuck and that clearly being reflected in BAC's chart. If the price will attempt to rally and test the X zone (18.5$) it will complete a small Butterfly pattern that will add chances that we...
Despite Yesterday's rally in the stock markets, $BAC's Bat pattern wasn't violated as the price remained inside the PRZ, The fact that the price climbed above the Fast SMA line and created a minor uptrend line is a bullish signal but as long as the price remains below the broken major trend line and below X (18.5$) the bearish scenario is still valid. Assuming...
I called out EUFN as a potential short on bad news for European Investment Banks. Although I cashed in on a pretty sweet trade, I still think this ETF has room to tumble. Notice that it is still solidly within a large Ichimoku cloud of resistance, and it does not appear that this asset has near enough momentum on the upside to break out. The OBV, MACD, and RSI...
Liking the range bound w/possible breakout thru earnings.... fun times.
$BAC's setup reached my final target level with a 10% decline in the stock's price. Now the price reached the bottom of previous Triangle pattern. That trend line is what separates between BAC and it's weekly 200 SMA line. Weekly uptrend line is this week's focus
Yesterday's turn, following the attempt to break the 2060$ in SPX has created a long tail Pinbar in $XLF. Considering that we experience a pretty volatile summer market, I'm very cautious with price action patterns and I don't jump to conclusions when ever I see a strong price movement ..and it doesn't matter the direction of the move. That is why I took a...
Since its 2012- 2013 uptrend line was broken $BAC has been trading inside what looks like a weekly Triangle pattern (see black dashed line and the 17.5-18$ structure zone shown in the chart) During July, $BAC has completed a weekly bearish Bat pattern (PRZ between 17.8$ and 18.3$ that managed to stop, for a while, the stock's rally. The pattern's targets are...
url=https://www.runningalpha.com]Running Alpha Capital Markets continues to favor USA and India Equity Markets -- Access to high conviction names in this space is now available. Although Running Alpha Capital Markets is very bearish on Canada this fall, they are very bullish on USA NASDAQ technology - ( dominant move coming out of widening consolidation should...
Looks bullish here as it has been in a consolidation range ever since 1/14' and has for the most part been btw 15-18 zone. Financials have come back stronger this year and with interest rates set to be raised soon which could lead to better earnings from banks......financials are set to continue to be strong. For BAC.....it has been stuck below 18 lvls. ever since...
After Downgrading Sentiment on IBM to Under-Perform and Sell in 2013 and 2014, a Breakout Above $170.85, and Especially Above $177.14 Would Reverse the Intermediate Term Bearish Signal and Trigger an Upgrade to Long-Term Market Buy -- Along with Financials, Technology,Business Services, Biotech, and Healthcare, $IBM is poised to be a Pilot-Light Indicator for a...
Not too long ago I posted a setup on $XLF involving 2 bearish harmonics. Once the trend line was broken, it was no turning back for $XLF and the re-test of the broken trend line proved it by becoming resistance. Now it found support on 200 SMA line. Could bounce from here but longer term remains bearish
Goldman Sachs Group ( $GS ) has been showing strong signs of absolute and relative strength since busting out of its Dec 2014 highs over the past several weeks. Strong intermediate term support remains at the lows of the weekly bar ending on May 22nd -- at a level of near $200.00. Given how well Goldman has been holding up on down days in the $ES_F (e-mini S&P...
I see this share as moving up in long therm. At same time there is way to go through trading range. Anyways I see it upper.
Have added support floors and resistance ceilings. Noteworthy, BlackRock has clear historical resistances that all consecutively became supports after breaking through. For your review: 285, 322, 337.5, as well as current support of 361.5 and resistance of 380. BlackRock has already outperformed all Too Big To Fails YTD, and I believe the trend to continue due to...
BlackRock, along with S&P has just touched it's long time trendline support. Historically played out well, plus fundamentally it is a financial powerhouse with huge upside potential due to growing world economy, raising interest rates and favorable ongoing sector rotation into financials. I see short-term upside of at least 30$, or roughly 8% with limited downside.
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Financials, which have been driven higher by the Fed and the ECB, is in an interesting sell zone. We have minor structure level as well as the top of a rising Wedge. We've already seen false breaks in both sides of the Wedge as the ETF ranged from 25$ to 23$ and now, judging by the decrease in volume $XLF may be setting up towards its next strong move. Above...
It's been more than 6 years since the last major financial crisis occured in 2008. If we assume financial crisis come out almost perodically in every 8 - 10 years then I think it's time to start thinking whether we are close to the next one. 10Y US treasury notes have always been preferred investment tool for non-risk takers regardless to the financial...