GMCR broke through the 2011 high earlier this year, retested it in August and has since been in a reasonably linear trend. Since breaking through the more recent July high, price formed a double bottom on the resistance-turned-support line and is now in an established bull trend. This is not an opportunity for today, however, as earnings are due to be released...
Many traders like to trade IPOs and new stocks as the volatility is considered to offer good opportunity. But as a technical trader I find it difficult to trade a stock for which there is less than 5 years data. There is a limited history of how the stock reacts to events - which makes them difficult to analyse. In the case of ABBV a pattern is now beginning to...
For a long-term trade DRN is not a great shorting stock. It closed yesterday at $10.01 so there is not to much further for it to fall. But with the gap down on higher volume a quick short could be on the cards. Price has just managed to close below the 2001 pivot low of $10.20, but remains marginally above the $10 round number and I would've liked to have seen a...
YHOO has not been on my watchlist for many years. I have posted the monthly chart to show why. After reaching it's peak in 2000 ($125) it has struggled to reach its former glory. But now we can see that a cup and handle has formed. And if price responses with a measured move then we can anticipate a substantial move up (possibly by as much as $30). On the...
CVA has just printed a bullish flag in an uptrend (on Thursday's bar). This gives a good indication that price will continue to rise (no chart pattern has 100% accuracy). However, there is not so much room for this stock to uptrend before hitting resistance at around $30 (the 2008 high was $30.37). Some breakout traders prefer to only buy those stocks which are...
After the stock split earlier this year AAPL has become a much more affordable stock to trade. It was already in an established uptrend when the split occurred but stuttered around the 2012 high ($100.72). As with many US stocks Apple was being to trend well when the market-wide October pullback slowed the trend. It also happened around the time Apple had begun...
LEG has been trying to breakout of a multiyear consolidation since May 2014. On the weekly chart I have drawn on the 1998 and 2004 highs (to highlight this point) and the more recent consolidation zone which lasted just over 5 months. Finally in October 2014 price made a big bullish move (on earnings and higher volume) but this was far too early to consider a buy...
All roads seem to be pointing to buy limit orders @ 1.4990 - 1.960. Price will likely head towards 1.5300 and turn back for the trend line and consolidate there for a bit and continue its long term rally. 1.4990 region is also a past lvl of support + 50% retracement + trendline, can anybody say confluence? There is also an intraday short setup here as well. Price...
Price has completed a full ABCD pattern from Sep 2012 and also a minor ABCD with 161 extended D-point. Since the price has been attempting to reach targets. First target was the full swing CD move of minor ABCD. The technical target hasn't been reached yet (1,0790). One scenario is more bullish. Since price completed the large ABCD prematurely w a fast latter CD...