Following 2 green days and the overall market strength; I still see room for continuation. I will be watching for a gap up or strong open to break the $ 1.16 - $ 1.20 area. If it holds above $ 1.20 after a test for support on strong volume; I think we see a push for a gap fill to the $ 2.00 area.
Following the breakout on news today I will be watching for a gap up or strong open that breaks the previous resistance level of 7.91 and through 8.00. This is provided that it holds above 8.00( I would like to see a break and retest of 8.00 ideally due to shorts targeting the stock for an over and under 8.00 or any strong opening move)
If we squeeze shorts and...
As pointed out by JXMFinancial, MTZ recently bounced off on a nice volume. I have expanded the idea provided with some more observations that made me take a bullish stance on the stock:
- There is a long term uptrend and the price neatly bounced off the low of it. But wait, there's more
- Technicals are all on the lows,
*MACD in a nice setup to turn up for...
SWKS is on fire. Recent earnings revisions, and analyst upgrades has provided the catalyst for Skyworks to make its' next leg higher. May 29 marked its' highest 52 week close since the earnings release made in April. This cash rich company has an amazing Quick and Current ratio of 5.76 and 6.94 respectively, and no debt. Short term price target is set at 50.00,...
Watch for:
- Touch of resistance of the down trend
- Moving averages - 200 was a good support, but others rolled over
Note - gap from November 2013 still to be filled so if it goes down, the gap will most probably bi filled. with a bounce of it.
Drop target - 3.20
Up Target - 4.50
Big Picture:
US markets are strong, so I like long ideas. Despite, this stock looks weak I think if market break up failure scenario will come into play money will rotate from stocks that are on highs to underperforming stocks. And if market will continue showing strength momentum will cautch up this stock as well.
This technology company grew up from $20 since...
Banks also continue to look very weak as Bank of America (BAC) broke lower out of a lower level consolidation. The stock gapped down on it's earnings. Now we have point of reference at $14.71, if it will go through previous low of the day I will be considering Short option. Resistance at $14.86 then $15.00, if price will pullback to that area I expect to see some...
It is difficult to buy here after $40 move from earning's gap but on intraday basis there we can still trade tactically keeping long in our mind.
Actually, it is one of the best stocks in this choppy, range-bound market because after earnings was released it had nice, powerfull 2 days continuation move then some rest, inside days which is healthy after such a big...
Index Arbitrage Forecast: FTSE100 will outperform HSBC
Supporting Strategies: Cointegration, Correlation and Technical
Analysis Pattern : Elliott Wave 5
The trade should be opposite to the "gap". HSBC has performed better than FTSE100, in order to close the gap FTSE will now perform better in the next 131 days.
Targets and notes on charts
