FYI the company will report Feb 26, 2013 I see 2% downside move, and if it does not hold can revisit previous swing low $60 but the chance is small before earning. Last time we predicted that price will hit $60 from $65 and hope the same now. WeI want to short from Friday's close with target price $65-$66 with stop loss at recent swing high $68. Join us www.woowtrading.net
red trend + blue trend
Entry when blue is in consolidation, that can be:
- pullback to breakout level (red line)
or
- direct bounce from resistance (red line).
So far the best stock in $DJI may look tired and need to rest. It was an awesome run and still can continue upside but it looks downside chance is higher now. Short at 9-ema with target price $60.44 previous upside target price with stop loss at recent swing high $65.92. For option traders there is higher chance to make up to 100% from this trade woowtrading.net
Adam & Eve double bottom has hit (and gone above) $55 target. Anyone who does Harmonic may be able to define this (crab, butterfly, bat) - I'm not sure, but it looks to me that it may be one.
I am stepping a little bit out onto a limb on this call, if only because HD has had such a strong, persistent advance from last fall. When you consider earnings for Home Depot peaked 7 years ago it is a good reminder that HD is a cyclical stock. Cyclical stocks tend to look great after big rallies and they look terrible on the charts going into bottoms. Well,...
