We have a Weekly Higher Low now we need continuation for the Bulls to keep it alive on the weekly trend change.
Deceptive Trendline on the Daily. Go down to the 4 hour and you see it clearly.
The weekly is ultimately in control and it hung on to the Higher low. No the Bulls have the ball. Let see if they can
confirm a new direction.
FOUR got sold off pretty bad and retreated quite a fair bit from recent highs.
Tech sell off took this below but seeing this might be able to pull off a return to get back in its up-channel & regain its 50 day sma.
You really can't ask for a better looking chart. Shares have formed a cup and handle pattern, and in the past this stock has reacted well to these parabolic movements. They have also broken that psychological $100 level. $FOUR could easily hit $115 within the near future. Good Luck!
Here are some breakout plays that I am considering this week. These are just some names that have a lot of potential and could surge to new highs soon. I may post on some of these throughout the week if I see a really good setup. I post watchlists like this one weekly, so like and follow for more :) Good Luck!
FOUR has had a phenomenal run with its up-channel from IPO and whilst the recent breakout above has come back fairly quick, I'm encouraged by seeing it attempt to form support out of its previous resistance band at 82-83. I've drawn in some extended lines of the channel that may act as some guide if this continues on such a path.
Long with FOUR but would set a...
Technical look good. Only downside is there isn't much space to the upside. There is a lot of resistance around the $75 area. However, due to recent news and trend they're more likely going to the upside than down.
-Bot shown on chart but it's actually a 50% retracement on larger swing low and 61.8% on shorter swing.
-Bounce back of previous resistance and trend...
- Flash BUY signal
- 8 confirmations in its uptrend
- run up to Earnings
Happy Trading, from CJ -- aka the greatest FURU.
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FOUR is a recent IPO, recent lockup is out of the way
it's a SQ competitor at about 5% the size
they've also got a storefront solution similar to SHOP
it's found sellers at 65 a handful of times, if it can clear that it should have a nice run
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