I think last week's pullback in equity markets was a good thing. The market got overheated and it gave us a reminder that stocks don't always rise. Memories and patience are short in the finance industry especially with some recent trends (blockchain) skewing people's perception that building wealth gets built overnight. Not the case, in the past 50 years of the...
This image explains better than words what has happened. For the future: above the trendline is a positive sign, below it may get another downtrend. 18.50/18.10 doble resitence yesterday we had pull back up of prices at that level. Let's see what will happen this week as this is crucial level.
We've been through DDD,VRX,GPRO to the recent TEVA stories to me MNK is just another. Back to the days I was a proprietary trader, MNK is one of my favorite name as if I don't know what to trade in any given day I tried to short the name. Only if we kept "it's never too low to sell" in mind that we can catch this kind of profit, otherwise we might be stopped out...
bullish stock, +45% in 2017, doubled since nov., recently agreed to a settlement in lawsuit where vrx paid 96.25m and pershing square paid 193.75m(33% and 66% respectively). This settlement is the cause for the recent pullback. looking to break res level soon. fundamentally sound since new CEO has taken control. new fda approval for acne drug = bullish
Nothing relevant to flag up on VRX but at the moment price consolidation. Yesterday we got an engulfish bullish on a daily chart, price has closed on the upper part of the candle stick. A dinamic trendline defines the edge. Supertrend is positive MACD negative.
VRX yesterday has reached the first TP around 24.3/24.5 according to what happened some years ago. I expect some resistence here. if such hurdle will be step over, I expect another resistence at 26/27. This because some investors will take profit from the rally began in November: From 11 dollars to 19 (the neckline) 8 dollars of difference. 8+19= 27. Third TP...
yesterday VRX -1.81% closed with price down 1.81%. I report in the chart 2 trendlines one of which has been "violeted" (dotted one). An horizontal trendline defines a graphic support of short term lateral movement (price consolidaton). Below those we have tha main basic uptrend lasting several months.
Yesterday I bet on a new trend line but I had needed a confirmation about the minimum which was given today, this is why I decided to post my idea. If confirmed during next sessions the new uptrend will accelerate.
Apologies for the chart but I don't have the premium version. I tried to figure out the next levels: Here the summary: 1. 25.80 2. 33.20 3. 38.50
VRX after the correction largly expected, yesterday as demostrated a strong bullish counterattack closing the session slightly less than the short entry recovering mostly 100%. The pattern therefore shows clearly the uptrend line in place. Investors are considering a Q4 better than Q3 looking for new confirmation about debit reduction, so I expect price will move...
We reached 17.70 dollars and than a fast pullback as it was for the day before. Important resistence near 18 with possible retracement on the ascendent trendline first and the second dotted trendline after. Personally I sold it at 17 in order to see what it will look like next weeks. RSI overbought, MACD still positive.
We have seen in the last few days a dynamic resistance that characterized the pull back of the price from a threshold range between 16.95-16.75. Today the lowest minimum price touched 16.00 dollars (around -2% compare to opening). Violent and prompt reaction with high volatility intraday had set the price at 16.45 +0.3%. 16$ was the point where the ascendant trend...
The wait is finally over! After VRX big scandal and severe drop in PPS its time to get long once again. It has broken its downtrend and RSI looks juicy. Last earnings reports look great and its time for a comeback.
Here some trend lines projections based on the technical chart of Valeant so far.
CMG did bounce off the support and a 2618 trade is just on the mark; while another stock that is hated for quite a long time gives a long opportunity for risk lover, too. It's rare to see 2 harmonic patterns suggesting similar entries, which makes it worth watching carefully! It still better to wait for reversal sign in smaller time frame instead of put a buy...
MYLAN is moving higher while TEVA and VRX is moving lower!
MYL is a buy here. just compare TEVA and VRX with MYL and you have it!
Hidden Bullish divergence. Target -1: 15.50 Target -2: 16.50 StopLoss: 13.60