The SPDR S&P Biotech ETF began its departure from the bearish double top around the beginning of May. Typically the stock drops toward its last strong support level, and most times drops below that as well. Currently, the stock has been trending down, but is yet to make it to this shared support at 66.30. With the gains for the ETF on June 1, it could be an...
Lowe's is setting up to repeat previous large declines after its most recent earnings call. The stock has been in a bullish trend since 2015. The stock has cycled in tight channels up and down throughout this bullish run. Currently Lowe's just repeated movement that has resulted in a two quick 13% drops. Near-term downward movement is outlined below. When we take...
Comcast has been in a bullish trend since January 2016. During this course of this trend, the stock has moved down after hitting resistance. The stock is currently at this point of resistance and should follow suit by moving down. Near-term downward movement is outlined below. When we take a look at other technical indicators, the relative strength index (RSI) is...
American Airlines has been in a bullish trend since last year. During this course of this trend, the stock has moved down after hitting resistance. The stock is currently at this point of resistance and should follow suit by moving down. I will outline why the near-term movement is likely to the downside below. When we take a look at other technical indicators,...
Leidos has been in a bullish trend since last year. During this course of this trend, the stock has move down after hitting resistance. This resistance was struck once again on May 25. May 25 also paved the way for a double top, which is a bearish signal. I will outline why the near-term movement is likely to the downside below. When we take a look at other...
Macy's has been in a bearish downtrend since late 2015. Although the overall trend is down, the stock does cycle up and down throughout the trend. On May 19, the stock bounced off support and should slightly cycle up over the course of the next month and a half. This is the first indicator the stock should move up. With mixed earnings from retail out of the way...
Qualcomm has been potentially forming a well-known technical trading indicator called a head and shoulders (HnS) pattern. This pattern is basically made up of three peaks or triangles with the middle triangle have a higher top than the ones flanked on each side. A HnS pattern with the peaks on top is bearish as the stock drops upon the final triangle (or shoulder)...
On May 17, Costco bounced off of its reoccurring support level. This has been solid support since August 2015. Costco also has earnings in focus this week. The estimated EPS is nearly where it was during the previous quarter's EPS which was a massive miss. A similar massive miss this time around will yield the analysis contained herein almost worthless. However,...
Looking For overall upward movement, could be great quick option plays.
I see this movement potentially setting up. I plan to write on this in a few more days after the stock moves up a little further. The initial play will be to the downside. The stochastic is overbought and RSI is nearing that area. A drop is coming, but I am anticipating the stock to rise long-term. Bearish over next month. Bullish after that
The SPDR fund tracking S&P Retail has been trending up for years. Lately the industry and fund have been on some rocky footing. Currently the fund is at a potential key support level with value to the upside. The projected future movements are highlighted below based on technical indicators. When we take a look at other technical indicators, the relative strength...
On May 16, Exelon Corporation crossed below its 150 day moving average (DMA) and 200 DMA. One day prior, the stock crossed above both moving averages. A double cross above followed by an immediate cross down has occurred four times in the history of the stock. The double up/double down has resulted in a minimal loss of 0.283%, median loss of 4.644% and maximum...
Humana Inc has been in a clearly defined bullish trend since July 2016. As of the close on May 15, this stock is at the top of the cycle which is near a strongly established resistance line. The projected future movements are highlighted below. When we take a look at other technical indicators, the relative strength index (RSI) is at 73.8915. RSI tends to...
First Solar has been in a clearly defined downward trend since between May and August of 2016. As of the close on May 12, this stock is at the top of the cycle which is near a strongly established resistance. The projected future movements are highlighted below. When we take a look at other technical indicators, the relative strength index (RSI) is at 81.4842....
The SPDR fund tracking the Real Estate Sector (XLRE) has been in a clearly defined upward trend since November 2016. As of the close on May 12, this fund is at the bottom of the cycle which is near a strongly established support. The projected future movements are highlighted below. When we take a look at other technical indicators, the relative strength index...
Kellogg Company has been in a clearly defined downward trend since February 2017. On April 26, Kellogg broke down and away from the wedge pattern it had been in. From this point, the stock broke down to around 68.60 which fell in line with a support trend line that began February 2014. The current resistance line is steadily dropping. The projected future...
Teck Resources has been in a clearly defined downward trend since November 2016. The trend does however cycle up and down very well. Currently the stock is at the bottom of the channel and due to rise for the reasons in this article. When we take a look at other technical indicators, the relative strength index (RSI) is at 29.9555. RSI tends to determine trends,...
On May 5, 2017, the eBay Inc 150 day moving average crossed below its 200 DMA. Historically this has occurred 14 times and the stock drops a minimum of 1.483%. It has a median loss of 6.923% and maximum loss of 25.517% over the following 27 trading days.. When we take a look at other technical indicators, the relative strength index (RSI) is at 54.5317. RSI tends...