S&p 500 Index is right at its upward channel support. It has moneyflow divergence. We think it will decline Breaking the upward channel formation. Break of upward channel will bring it down to a target of 2260. Interestingly on the weekly farm SPX is in upward channel support, and break of that suggests a similar target.
Last night we talked about a Head & Shoulder on the SPY, and discussed Taking 238 Put option position on SPY. As entry criteria we discussed SPY to run upward around 237.50 - 238 to form the Rigth shoulder & drop from there. Surprisingly SPY went up at 237.50 in the morning. We considered to take a 238 March 24th Put option for $0.64. After that SPY ran all...
SPY appears to be in a short term H&S pattern. It may reverse to $38 area to form the second shoulder & that will be place where we would look for shorting opportunity. At the break of H&S it can decline to $233-34 area. * Trade Criteria * Date first found- March 20, 2017 Pattern/Why- Possible Head & shoulder formation Entry Target Criteria- Break of...
KDMN is breaking of a falling wedge & seems like a perfect fallen angel pattern. Both suggesting a strong upward move. * Trade Criteria * Date first found- Pattern/Why- Entry Target Criteria- Break of 4.09 or pullback to 3.80 Exit Target Criteria- $5.43/6.22 Stop Loss Criteria- $3.67 Please check back for Trade updates. (Note: Trade update is little...
* Trade Criteria * Date first found-March 20, 2017 Pattern/Why- Strong upward trend with insider buying. Entry Target Criteria- pullback to $3.40-3.42 Exit Target Criteria- $4.17 Stop Loss Criteria- $3.17 Please check back for Trade updates. (Note: Trade update is little delayed here.)
* Trade Criteria * Date first found- March 20, 2017 Pattern/Why- Upward move in the overall energy Sector Entry Target Criteria- Break of $2.80 Exit Target Criteria- $3.27/3.73 Stop Loss Criteria- $2.63 Please check back for Trade updates. (Note: Trade update is little delayed here.)
HTZ does appear to be in a short term breakout mode. It seem breaking out a down trend line in increasing volume after a huge decline. It had good insider buying back in November at $27. We think it can go up to $28 * Trade Criteria * Date first found- March 16, 2017 Pattern/Why- Trend Line breakout Long Entry Target Criteria- Pull back to $22.40 Exit Target...
GPRE seems forming a Long term double tap Head & shoulder formation. It also has a lot of insider selling. Aggressive trades may want to enter into Short trade now, but we would like to wait a bit for perfect entry. * Trade Criteria * Date first found-March 16, 2017 Pattern/Why- Long term double tap Head & shoulder Entry Target Criteria- Break of $24 or...
HOLX seems a interesting Long setup. It is breaking out of a inverse head & shoulder formation, and has some momentum characteristics. We would look for half entry now & confirmation entry at the break of $43.04 * Trade Criteria * Date first found- March 16, 2017 Pattern/Why- Inverse head & shoulder formation Entry Target Criteria- Break of $43.04; We would...
PEIX is falling since its reported earnings 2 weeks earlier, though the report was better than expected. With the report it went up but declined sharp, as if the investors took the profit off the table & pushed it down. Now its testing its recent support and if it breaks below, it can decline as low as $4.15 * Trade Criteria * Date First Found- March 15,...
TGT is a possible High risk setup with high potential reward. It has broken down a long term upward channel & Channel breakdown target is around $45-46. And on the daily chart it has a downward trend, which targets around $44. To play this we are considering $45 July-17 Puts, Currently around $0.45 * Trade Criteria * Date first found- March 14,...
FNSR seems breaking down from a double top. We can see nice Adam & Eve top formation. As it breaks the support label it can decline all the way down to $20 area. * Trade Criteria * Date first found- March 13, 2017 Pattern/Why- Double top short Entry Target Criteria- Break of $26.38 Exit Target Criteria- $20.13 Stop Loss Criteria- $28.13 Please check back...
IGT seems forming a bearish flag formation. A break of $23 will be flag pattern breakdown confirmation. And we think it can go down to $20 area at the breakdown. * Trade Criteria * Date first found- March 13, 2017 Pattern/Why- Bear Flag formation Entry Target Criteria- Break of $23 Exit Target Criteria- $20.13 Stop Loss Criteria- $24.13 Please check...
RSXJ is rolling over after a huge upward move. It has broken down very longterm upward trend & recent support label. It also has Negative moneyflow divergence. We think it will decline further. For ideal entry we would like it to re-test broken support. * Trade Criteria * Date first found- March 9, 2017 Pattern/Why- Trend/support breakdown Entry Target...
AMD crossed below EMA lines after a good upward run. It has moneyflow divergence. Now it seems testing its overhead resistance from beneath, and we think it will fail to cross above & decline from here. * Trade Criteria * Date first found- March 8, 2017 Pattern/Why-Upward channel breakdown Entry Target Criteria- Break of $12.96 Exit Target Criteria-...
CMCM is forming a possible flag formation on the Hourly frame. At the break of this setup it can go at least to $14 are reflecting the top breakout. But if the breakout occurs as a longer term flag setup, it can go as high as $15 to $15.13 * Trade Criteria * Date first found- March 14, 2017 Pattern/Why- Flag formation Entry Target Criteria- Break of...
EDIT had a lovely flag setup. It continued further up and started to consolidating within a downward channel. Now it seems broken out the channel formation. We think it has good upside potential from here. * Trade Criteria * Date first found- March 13 Pattern/Why- Flag formation; Downward channel breakout Entry Target Criteria- Break of $25.21 Exit Target...
CYH seems a very good long setup. It had a wonderful rally since we first found it around $5. Now it seems bouncing above the moving averages & getting ready for the second phase of run. * Trade Criteria * Date First Found- February 28, 2017 Pattern/Why- Fallen angel; Momentum Long Entry Target Criteria- break above $9.83 Exit Target Criteria- 1st Target...