AlgoTrend

AlgoTrend

Rite Aid appears to have formed a Cup & Handle Pattern and higher swing low at $1.71 and the 10 EMA is close to breaking above the 50 EMA. A move above the rim of the cup along with the support of other technical indicators could see RAD reach up to $2.80. With a Risk:Reward of 1:5, longs may see this as an attractive play. Caution: Rite Aid is scheduled to...

AlgoTrend

December 8, 2017 FlashPoint SPARK identified a dominant Head and Shoulders Top chart pattern for SHOP. This could set up a nice opportunity for shorts if it breaks neckline (support) at around $95.75, suggesting a measured move down to the $79 level. Also notice the minor Fish Hook pattern. A break below the low of this pattern also suggests a measured move...

AlgoTrend

There is no surprise with all the talking heads incessantly discussing Bitcoin investors are fleeing Gold. On Gold prices On December 5, 2017, GLD broke the Rising Channel and 250 EMA but remains inside the dominant Symmetrical Triangle chart pattern. At FlashPoint Trading Academy, we are watching the up sloping line (and 5th touchpoint) of the Symmetrical...

AlgoTrend

On December 5, 2017, Goldman Sachs reiterated their buy on KORS. This is strikingly curious as the stock has climbed over 81% since breaking out in August. Seems like they are looking for some suckers to chase the upside momentum. At FlashPoint, we are focused on the Parabolic Extension which is now +34%; unusually high for KORS without a pullback. As we...

AlgoTrend Updated 

The Semis have been on a tear and has been the number one performing sector over the past two weeks. As you can see, SMH broke out of a Symmetrical Triangle and soon after formed a Cup & Handle (C&H). Once again, it broke free of the C&H to the upside and appears to be moving in a parabolic manner. Parabolic extensions can be persistent however, once they...

AlgoTrend

ITB has been running since Feb 2017. Recent swing to upside on light volume. Other indicators rolling over so longs should look to protect profits. Shorts have a favorable risk reward ratio of 1:5. Worth a look. If you like our analysis, please follow us.

AlgoTrend Updated 

CAT has more than doubled since 2016. Price action has taken the stock to its highest levels since 2013 even though revenue has remained relatively flat. Notice the Rising Wedge chart pattern which has reached the top of a Long Term Channel. Volume has been decreasing and other indicators suggest the stock is overbought. FlashPoint Trading is looking for an...

AlgoTrend Updated 

ANTM has been one of the true beneficiaries of the Trump rally. However, notice how volume has been slowly decreasing since Feb 2017 (blue line). The last breakout attempt failed to generate momentum which may indicate the long side is a crowded trade. Prefer the short side on this one considering a generous risk:reward ratio. Short Entry: $195.50 Stop Loss:...

AlgoTrend Updated 

Twin Peaks and Deep Valley usually indicate a potential change in the current trend. If AMAT were to break the black uptrend line as well as the lowest point of the Deep Valley, we would expect the initial drop to fill the April 2017 common gap around $38. Further weakness could push the stock price down to $33. Short Entry: $44.38 Stop Loss: $46 Initial...

AlgoTrend Updated 

Head and Shoulders Tops are one of our favorite chart patterns to trade. If SQ does not break out to new highs soon we would look for a break of the neckline on higher than normal volume to confirm a short entry.

AlgoTrend Updated 

Visa touched the top of a Rising LT Channel and price is currently 20% above the 250 Exponential Moving Average suggesting it may be overbought. Current Price: 100.17 Initial Target: $96 Stop Loss: $101.72 Perceived risk/reward: 1:2.69

AlgoTrend Updated 

GLD was able to slightly push above the long term Symmetrical Triangle however, indicators are short term overbought. A minor pullback possibly to the up sloping line of the newly drawn Ascending Triangle labeled A,C. We will use a breakout above this pattern as our long signal with further confirmation from our supporting indicators and volume.

AlgoTrend Updated 

WTW slow stochastic is near-term overbought. This coincides with a 122% price extension above its 250 day EMA. All indicators point to a pause in upside momentum.

AlgoTrend

Previously, we highlighted the major 5 Waves up inside a Rising Channel that began in in early 2009 or over 8 years ago! This is the dominant pattern and we are looking for short opportunities or options spreads as we near the top blue upsloping channel line. We will be using indicators to support any entry. AAPL's minor pattern started in June 2016 and has...

AlgoTrend Updated 

Symmetrical Triangles that appear after a long bullish move are trickier to play than those that appear after a long bearish trend. Why? Because the pattern will sometimes breach the upper line of the triangle and soon thereafter reverse direction. Thus, money management is vital. What to watch for: Long Case: A break above the downsloping line of the...

AlgoTrend Updated 

GLD Symmetrical Triangle Pattern began forming after bottoming in December 2015. Volume has decreased since it began consolidating in June 2017. A breakout above the downsloping line with the support of other techincal indicators could see this ETF make a run to $135. A failure to breakout would see a retracement to recent support just under $115.

AlgoTrend

Each of the previous two peaks (waves 1 & 3) inside the rising channel resulted in an approximate $45 price decline in approx 1 year. Currently nearing top of rising channel (Wave 5) which may present a good opportunity to exit or protect long positions. Short traders should exercise patience and watch supporting indicators prior to entering new positions.