Description on chart. Happy hunting and GLTA!!
AAL As seen in the attached weekly chart below, AAL has reached a lifetime support level triple bottom. In addition to this, the daily chart is showing some very steep bullish divergence in RSI and in the Klinger Oscillator. I have had much success playing these particular types of RSI divergences, ones where there is a steep drop into oversold conditions, a...
After the distribution, Sappi is being markdown and is still continuing searching for the bottom of the downward stride.
NFLX Just an observation on the lifetime channel of NFLX Netflix. It seems to me that any increased selling pressure should easily bring this down to the 200 range by the end of September without breaking much of a sweat. I'm looking for the RSI support break myself. Note the Klinger Oscillator has crosed over bearish, turned below zero and began to spread. Not a...
AMZN In my previous post (linked) I noted a good potential spot to go short AMZN, and did so through put options. That is paying off now, up well over 100% already on options, and if this loss of support holds/deepens, could potentially be very profitable with plenty of time left to expiration. Hope you rode with, but if not, I might look to see if this support...
CGC Uptrend support line is being tested as we speak. If it does not hold, there is a secondary trend line of a former resistance that may turn support right at 24 area. If looking to get in long for CGC, this is a good spot simply because you can cut losses quickly if support breaks and not lose your a**. I do like the longer term prospects of this company once...
SPLK Shown is the lifetime channel of SPLK Splunk. As shown in the chart, it has been bouncing around near the channesl resistance for some time, and without in any way breaking its pattern could see the Mid 60's-70's. This represents a 40% drop. However, a catch on the uptrend support line and ride back up to the channel resistance represents about a 35% gain....
SPY Sold options picked up at close yesterday (see linked idea) for 100% gain today! Sold 2 Aug 23rd C190 bought at .41 apiece for .82 early this morning. Played the Upside Tasuki Gap pattern, and it paid of for me. Love when a plan comes together! Happy hunting and GLTA!! QQQ
AMZN Currently testing resistance of what I believe to be a bear flag consolidation pattern. This is a great place to get short if you want to risk a little capital, due to the ability to cut out with a small loss if it breaks above this resistance, so stop loss at 1836. If it does not break though, you get the reward of the entire move downward, which could very...
MDB As shown in linked idea on MongoDB, it was sitting at a minimum 6:1 risk/reward ratio at open Monday. If you took that trade there, which I did at open, you're currently up around 6% after one day. Has broken out of inner resistance, now headed toward outer resistance at 153 area. If it is able to convincingly break that trendline, it is very possible for...
AYX Pure strength. As you can see from the chart, AYX is in the process of breaking out of its lifetime channel resistance. If this is able to hold the breakout this week, the sky is the limit for this thing. No overhead resistance, so only psychological resistances to worry about technically. Usually those come in numbers divisible by 5, so likely looking at 150...
CGC Lost nearly horizontal support, and so could very well be headed lower to price area shown on chart for uptrend support line. it is very possible there could be a bounce to reset the RSI a bit higher first, possibly even as high as 31ish. I changed from short to long at 27.50, but am holding off on any more purchases of stock until either the downtrend...
GRUB GrubHub has just completed printing a true Bullish Harami candlestick pattern at the bottom of a downtrend. Attached link to diagram explaining the rules for the bullish harami. Large bearish candle, followed by a gap up from close bearish candle, whose body is no bigger than 25% the preceding bear candle. In addition to this pattern, the RSI has shown a...
MCD McDonald's has just completed printing a true Bearish Harami two candle pattern. True Harami's are explained in linked diagram below. The body of the second, inner candle needs to be no bigger than 25% the size of the preceding candle, in which case this one qualifies. A true large bullish candle at the top of an uptrend, followed by a 75% smaller bodied...
SPY Well, the way the last candle looked in SPY, it would appear the strong down pressure has been halted for the moment. In looking at the chart, it is beginning to appear we may be headed in a direction similar to a Three Drives Pattern. If this is the case, SPY could very well see new ATH's before failing in earnest again. I would actually expect to see a...
MDB In my previous post (linked) I looked at the way MongoDB previously had reacted to tests of its 125 moving average over its short but super strong lifespan. This is a true growth stock, and is currently in a position to offer a minimum of 6:1 ratio on risk/reward from Friday's close. This is dependent on setting a stop loss below the current uptrend line and...
TREE As noted in my previous post on LendingTree (linked) this is a patient trade that requires a trader to display discipline and belief in the trading plan. The accumulation zone was noted as 285-270 in previous post, and this week TREE hit sub 285 for the first time on the pullback in formation of a true cup and handle pattern. I say "true" cup and handle...
CAG Conagra Brands gapped up out of its recent consolidation pattern, freeing it up for a run to posted targets. Gains of 10% and 20%, respectively. Shown below is a close up daily chart for a better view of the gap up breakout. Monthly chart indicates this stock could very well see the 44 area longer term. I personally like this stock for longer term buy for...