On Monday, shares of QUALCOMM, Inc. (NASDAQ:QCOM) opened above a major breakout level of $58.75. However, by the time the stock market closed, price was back below, failing to hold the breakout. This is a major level for QUALCOMM as it is the pivot between a major move up to $63 or a collapse down to $52.50. Investors should read it super simply. As long as...
There is no denying that the stock market has been on an amazing run. However, the uptrend on the NASDAQ 100 (QQQ) broke this past Monday and no one is talking about it. Just take a look at the stock chart below. You can clearly see that as of Monday, the NASDAQ 100 broke below the sharp upsloping trend line. This makes the market extremely vulnerable to a pull...
A major buying opportunity is approaching on shares of Groupon Inc (NASDAQ:GRPN). Just 3 weeks ago, Groupon reported fantastic earnings as the stock jumped 25%. Since then, price has faded as weak handed investors took profits and got bored of holding onto shares. This is where smart investors start to scope out a buying opportunity. The clear entry price is the...
Last week J C Penney Company Inc (NYSE:JCP) reported earnings that were not horrible, unlike many other retailers. The stock was already trading near 52 week lows and has held up well, also unlike many other retailers. I believe this to be the sleeper pick of all the retail sector. It is currently trading just above a major double bottom support level at $6.00....
Last week J C Penney Company Inc (NYSE:JCP) reported earnings that were not horrible, unlike many other retailers. The stock was already trading near 52 week lows and has held up well, also unlike many other retailers. I believe this to be the sleeper pick of all the retail sector. It is currently trading just above a major double bottom support level at $6.00....
After the stock market closed on Tuesday, Sarepta Therapeutics Inc (NASDAQ:SRPT) reported a bigger-than-expected loss of $88.5 million or $1.62 per share. In addition, investors are questioning their ability to fully launch and profit from upcoming drugs, offsetting future losses as they burn through cash. The stock took a beating after-hours, dropping almost 15%...
United States Steel Corporation (NYSE:X) jumped on Monday and is setting up for a great day on Tuesday. After announcing a $0.05 dividend, the stock is in a perfect spot to continue its run higher. In addition, Donald Trump will be giving a speech Tuesday night where he will likely talk up buying American produced steal. When looking at the stock chart, all...
Shares of Ralph Lauren Corp (NYSE:RL) are looking bullish after the stock bounced off its 52 week lows and has since began to consolidate in a bullish flag pattern. The stock has been beaten harshly off its highs, down from $114.00 to $78.19. Based on the current chart setup, Ralph Lauren is a strong buy with an upside target to $87.40. Ralph Lauren Corp will...
Twitter Inc (NYSE:TWTR) earnings were horrible. There is no denying it. However, the stock price action has not been a total disaster and may in fact show signs of major upside. After last week's price action, I am bullish on Twitter. Let me explain. Early last week the stock broke below major support at $16.25 and hit support at $15.70. This was ugly price...
Something is amiss with aluminum producer Alcoa Corp and I will tell you exactly what it is. After reporting solid earnings at 52 week highs, Alcoa Corp opened higher and collapsed. The stock put in an ugly reversal which should scare any investor who is long the stock. Over the last few days, Alcoa has been unable to catch a bid. Instead wallowing sideways. The...
Shares of Goldman Sachs Group Inc (NYSE:GS) broke lower today, taking out the lows from a week ago at $231.00. The fact that this level broke, sends signals of further downside to come. In terms of buying the stock for a swing trade bounce, the level is clearly $212.00. There is major stock chart support here. The stock should fall until that level, then find a...
Shares of Autodesk, Inc. (NASDAQ:ADSK) shot higher in early trading, only to reverse into the close. The stock hit a new multi-year high before staging the impressive reversal. This is a bearish sign and the candle formation is known as a topping tail. Topping tails by definition are bearish reversal signals. Investors should be fully aware that big money is...
Investors should be aware that Intuitive Surgical, Inc. (NASDAQ:ISRG) reports earnings Tuesday, January 24th, 2017, after the stock market closes. After studying the stock chart for some time, it looks like odds favor an earnings beat and upside move. This is seen by viewing the bull-like flag consolidation that is currently underway. It signals accumulation and...
The stock market saw some early selling today, but was able to shrug it off and float back towards the flat line. The reason why the market was able to avoid a large collapse was due to a trend line connecting the lows of December 1st, 2016 to December 30th, 2016. This can be seen in the chart below. Today's lows tagged that tend line perfectly. Investors should...
There is a quick trade setup next week where investors and traders can make a fast score. It involves Macy's Inc (NYSE:M) and triggers upon a break above the $30 level. On the stock chart, you can clearly see that the $30 level was significant. If was the start of a recent collapse on Macy's Inc stock. Therefore, if buyers are able to crack that level, it will...
There is a classic bear wedge development on the stock chart of Caterpillar Inc. (NYSE:CAT). Upon breaking the support line of $92.50, Caterpillar will fall quickly to $84.75. You can see the wedge in the stock chart below. The target level of $84.75 is a gap fill. This will be a major support and probably a solid buy level. Stay tuned and opt-into my live trades...
Shares of Gilead Sciences, Inc. (NASDAQ:GILD) continue to hover around 52 week lows. However, there is light at the end of the tunnel for investors who are long. Gilead Sciences has been making higher lows and higher highs over the last month. This is extremely bullish in spite of soon-to-be President Donald Trump bashing drug prices. As long as the stock does not...
Target Corporation (NYSE:TGT) took another beating today, falling over 5% after the company updated its fourth quarter guidance. Retail sales fell short and investors continue to run from every brick and mortar retailer. Many retailers like J.C. Penney (JCP), Macy's (M) and Sears Holdings (SHLD) are down over 30% in recent months. The sector is starting to look...