under downward sloping 50 100 and 200, grainger now in a downtrend until proven otherwise. if it breaks the uptrend from late may without breaking above the 50, i'll try a short against the 50
Overall bearish on GWW due to Amazon disrupting the space. Just got upper Bollinger band with big drawdown, start of a short term trend?
started charting (going thru some earning names) and this definitely coming down. Prices marked.
GWW is approaching our first support at 255.20 (horizontal overlap support, 61.8% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 284.50 (horizontal swing high resistance, 23.6% fibonacci retracement). Stochastic (55,5,3) is also approaching support where we might see a corresponding bounce in price.
I give importance to two things * First: Weekly Charts * Second: the years that it took the price to broke the resistance (4 Years and 6 months) And to this I add the way that the price broke the resistance line (an overnight Gap) Not visible from the weekly chart but represented by a big green candle (red circle) This idea meets this requirements: Resistance...
Strong relative strength in a sector that's got strong relative strength, primed for a bullish breakout to the upside. Targets $300 resistance level which is the 52-week high. Use options to play bullish breakouts to leverage your trade while limiting your risk. Example: Apr 20 270/300 Call Vertical
OOPS! :) While I am stopped out at a 1 cent gain! $STUDY #stocks #trading $XLI
New position today. Buying at the breakout levels above my custom Blue Indicator line -Alex
to confirm bullish turn. #stocks #dividend #aristocrats #trading #investing $XLI
GWW closed right in between 20 and 50 SMA on the daily chart. They will report earnings next week, and they just come out of a pretty bad downtrend due to the lack of results on the last call. I would be cautious about this one. Trade with confidence.