SPG caught my eye yesterday morning with 14th January's bullish bar on the breakout (and with higher volume). But it was trading below $200 so I passed it by. However, during the day price traded just above $200 ($200.42) so there could be continued strength to the upside. This is supported by the cup and handle pattern which formed below the May 2013 pivot high....
IDXX has just broken up out of a nine week pullback. Price struggled to break above the $150 half-figure zone during that time. Prior to this there was a very deep pullback (September/October 2014) which broke below the weekly 50ma for several weeks. However, price is currently in an uptrend, despite the recent pullback - which, in fact, formed an inverted head...
HHC is a little low on volume for me to trade but I like the sell/short set-up currently on offer. Price has the potential to fall to just below $104. There is currently strong support at around $100 (as seen from the weekly chart) and, if price approaches this level, we need to we aware of the weekly 200ma (which may come into play as further support). On the...
EW has been on my watchlist for sometime. It was a great trending stock throughout 2014 but became of real interest when it it gapped up above the 2012 pivot high in October last year. Since October it has continued to trend up well, with several bullish flags but, over the Christmas period, has gone into a mini-range. This mini-range could well be a double...
AWK has been trending nicely on the weekly chart since the beginning of 2014. But on the daily chart there were two deep pullbacks (in August and October) which, although just within the bounds of acceptable, would've meant several months of little real profit. However the overall trend is up - with higher highs and higher lows, so if you are comfortable holding...
SCG has spent the best part of 18 months trying to break out above the 2013 high. When it did so (in November 2014) the move was fairly clean but this was too soon to consider an entry (after such a long consolidation). However, over the Christmas period there have been two very bullish bars - the first confirmed a small flag and the second was on higher volume....
HAIN had a sticky patch for most of 2014 with a lengthy consolidation lasting from January to September. Since then it has behaved reasonably well with a continuation of the bull trend. There was a larger-than-expected pullback in October which breached the previous pivot high and the $100 figure - but the daily 50ma just about held as support. Now price looks to...
CHKP reached a high in 2000 of $118.64 and then fell into decline. The move back up has been unsteady so not a great stock to trend trade over the longer-term. But since late October (which retested the 2012 pivot high) the momentum to the upside has become more linear. With yesterday's bar being very bullish (on higher volume) the uptrend looks set to continue....
GPC has spent most of 2014 in consolidation. The high of February proved to offer very strong resistance and price tested it a couple of times before finally breaking through. Once resistance had turned into support the uptrend has continued with some momentum. On the daily chart there was a bit of stickiness around the $100 figure but now there is no specific...
GGP has fallen a long way from it's 2007 high but has been steadily creeping up since bottoming out in 2009. This stock started to trade above the daily 200ma earlier this year but was still not displaying the hallmarks of a strong trend. The pullbacks, while not excessively deep, were quite prolonged and kept retesting the 2013 pivot high. Since September we...
I last analysed RCL a few weeks ago on the gap up following a cup and handle formation. At the time I recommended a near-term buy (which would've realised a small profit) but to hold off for a longer-term trade. Since then price has made a new high, pulled back slightly and then yesterday's bar broke out confirming a bullish flag (plus breaking the $80 mark on...
DDD is a stock I looked at shorting on 13th November. At the time I wanted to see the weekly chart close below the 200ma and for price to clear the $28-$30 zone. The weekly did end below the 200ma but the following two weeks saw price retrace. However, the overall trend remained bearish and a small head and shoulders pattern formed on the daily chart - giving...
We have multiple short positions open on EURUSD for some time and will look to add to them if price continues to trend downwards. However, at the moment price is in a consolidation and so we will wait for a breakdown of the recent low before committing any further funds. If price deals above the resistance zone then we may consider exiting our positions but for...
I am not looking to take any shorts at the moment, but if I were RDC offers a good set-up. On the weekly chart there was a very long period of consolidation followed by a convincing move down. Once price was below the 50ma and had cleared the consolidation zone the trend began to develop. There was a pullback in October/November but a bearish engulfing pattern...
I have posted on ORLY before (in early November) and since then it has gone on to experience a lovely linear trend. After the first gap up I was waiting for a pullback followed by a breakout to enter the trade. This happened on the day of my last post so I was able to enter on the next bar. Yesterday's gap up added to my equity so overall I am happy with this...
I looked at LOW a few weeks ago, just after it had gapped up past $60. For those who traded it on a short-term strategy a nice profit in excess of 100 points would have been banked. Those who took a longer-term stance will have seen their equity rise by 250 points plus - so far. LOW continues to make new highs and, after a stickiness around $45-$55, looks to be...
ERIE appeared on our breakout list today. It is not a stock I would normally consider as it is not an S&P500 company. Volume is low, which makes liquidity low, and difficult to trade in the UK. However, I like the look of the chart so thought it worth analysing. ERIE trended well until consolidating from 2011-2014. There were a couple of fake breakouts in 2013...
FDX has been moving up since it's 2009 low but took some time to regain the ground lost from the 2007 high - with a long period of consolidation along the way. Since breaking above the 2007 high ($121.42) late in 2013 price has still struggled to fall into a linear trend. However once price broke - and retested - the $150 zone a smoother trend has developed. In...