$DRL Gap Fill TradeFollowing 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 hold above 8.00; this should signal continuation and a gap fill towards target area of 9.61.
As always use technical signals for entry.
Good luck!
Gapup
ITNC gap up on upside guidanceIntel set new 5 years after it announced its sales would be better than it had anticipated earlier in the year. Intel’s news is almost certainly good for Microsoft (NASDAQ: MSFT) and Hewlett-Packard (NYSE: HPQ) since Intel is the leading maker of chips for PC’s.
The PC market has been so mature that most analysts assumed that Intel’s future would be relatively weak. As PC sales have begun to fall worldwide, tablet and smartphone sales have risen sharply.
Any improvement in PC sales will help Microsoft, which is the major provider of PC operating systems, and Hewlett Packard, the leader in PC sales.
Technical Analysis:
Now, we have gap low at $29.56 which should act like support and high at $30.06.
I think it needs couple of days of rest, investors and traders need time to absorb this big movement
Check my previous idea in the link below:
CTXS laggard play, looking for move through 200MABig 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 early 2009 and found top in 2011 at $88. From then it entered into big consolidation wedge with bottom close $50 (aorund half of that big igniting move) means that long term investors still control price action.
Short Term tech analysis:
Stock gapped up $59.46 on earnings on 24 of April, sold off from 200 MA but bounced off from shorter term moving averages with pivot low at $57.77.
Right now, it is in front of 200 MA building nice upper level base.
Trade Plan:
I like entry here at $60.37 with stop below $57.77. Break up and close above 200MA could lead to $62.25-$63.44 resistance zone, then we have gap down pivot point at $66.48.
Macro target is mid $70ish area - top of wedge.
Nikkei strong bounce from support, gap up Here I think it is ready for move higher vs gap pivot point at 14, 359.
First target could be descending trend line then swing high at 15, 164
