3-5 And here we are today with yet another energy stock building a Bull channel in green. What do I need to see to make me get long? An upside crossover of the green line that's what. THEN one could place a stop on any break below the blue line of line of one's choosing. The top blue line is a tighter stop and IF IF IF an issue is going to go after breaking out...
3-4 Nice looking Bull channel building here. An upside crossover triggers a long side trade with a stop of any break below the blue support line of your choice. If you look in the energy space you are seeing this all over the place. I'll be posting a ton more names that look like this so stay tuned or hit the follow button so you you'll know when something is...
3-4 Well what do you know. A stock that 9 days ago every momo person on the planet just had to have out of fear of being left behind AFTER they have already been left behind (what else is new) is now finally pulling back and building a bull channel. The big question is how long will it build out and how deep will the pullback be if it indeed continues. Nobody...
12-2 Let's keep it simple. What's so special about the 100-101 zone? Not only is it the first breakout into a new high out of what some would call a base. It's also a 50% Fibonacci retracement on the way down. It also just happens to be at? An old support. We all know the old rule of thumb right? Old resistance once broken tends to become? New support. ...
11-13 What is so special about CELG here? Aside from being extended (what else is new these days right). It has what MAY be a Double Top in the short term brewing as shown in red. So what do you do about that if looking to short? Wait for the break of the purple line then short it. upon an entry then any break into a new high can be used to stop out. For...
11-7 Lets keep it simple support and resistance zones are clearly defined. Red is resistance, green is support, major and minors shown. Key in on the small red line here. If it can't break over that for shorting that's a good thing, its also the 50 SMA zone. Now look at the pink line. Until this issue can break to the downside there is nothing to talk about,...
11-6 Does everyone know what a rising bearish wedge looks like while its building? You are looking at one in the process of being built. For informational and educational purposes only. These are not recommendations, trade at your own risk.
11-2 Check it out! You gotta love these patterns. Remember a double bottom is a back to the scene of the crime retest of the lows. You want to see the retest of the lows get defended and especially see positive RS Divergence when it happens. As with OAS the same applies to SDRL Notice a theme developing? First off we see what MAY be a double bottom in process....
11-2 Check it out! First off we see what MAY be a double bottom in process. Next we see a green downtrend line that we'll want to see if its crossed to the upside. What is really important is that of the RS sporting POSITIVE RS divergence. That is exactly what you want to see on a retest of the lows. From here its all about an upside crossover of the green line,...
10-30 For those interested in buying support, especially know considering how short term extended things are these days. Its all about the blue line. It also helps define ones entry risk here. If buying here you are buying 20 points away from a support zone (thanks anyway I say). Given this issue is tagging a trend channel resistance zone? That is all the more...
10-30 In keeping with the RESISTANCE theme? Why is VDSI stalling where its at? Because of a word called RESISTANCE. Before getting sucked up in all the reactionary hoopla One is better served to look where resistance is before going long on a reactionary event. If one is looking to short? You always want to know where resistance is. Its that simple. That said?...
10-30 So why did MA stop where it did? Because of a word called RESISTANCE. Before getting sucked up in all the reactionary hoopla One is better served to look where resistance is before going long on a reactionary event. If one is looking to short? You always want to know where resistance is. Its that simple. Use support and resistance to guide you. For...
10-30 Nice little double bottom here that MAY be in the works. Support zone at the least. Notice the standard AFTER the retest of the lows how when it thus far launched it broke the downtrend (green) to the upside? That is exactly what one wants to see. For educational and informational purposes only Trade at your own risk, These are not recommendations.
10-29 First Off, FRAME THIS CHART What's not to like to a chartist. Lot of good chart stuff here. All Bearish. We have what MAY be a build out of a Head and Shoulders Top. We have an issue locked in a yellow downtrend channel. We have 4 waves down with the 5th yet to show up. We have a red bear channel (wave 4) the bear channel MAY be a Right shoulder of a H and...
10-29 Gosh, can you say resistance? Can you say extended? Ask yourself, would you buy this issue AFTER its made this type of run in a short period of time here? Ask yourself, what is your risk IF it heads to a blue support line. For informational and educational purposes only Trade at your own risk. These are not recommendations.
10-29 Contra Corner! For those who don't like to buy extended stocks AFTER they have already made a run (Think Late to The Party). Here is a sector one doesn't have to chase. Do yourself a favor and KEEP CHECKING MY PAGE TODAY as I'll be posting charts in the energy theme that have some sort of bottoming pattern either built or still building. As for this...
10-28 Looking like its building a broadening top to me. So, that all said? For me the "what to watch for" for shorting is? To watch this sell off over the next few days then the bounce (if we see one). IF IF IF that bounce forms a bear channel? Then I salivate on the short side. Think Just when you think its safe to get back into the water (bulls) that's about...
10-28 What is so special about AKRX here? See that red line? Its a form of resistance. For me it says don't get sucked into buying it here. The first thing I do when I look at a chart is? Ask where is support. I need to know (and so do you) what my risk is whenever I buy a stock. Support zones help you define your risk, meaning if I buy here and it pulls back...