IQNT has been on a tear all year long. Respecting its' trendline, IQNT has gained 550% since April of 2013, and with a p/e ratio under 10, it is STILL undervalued. This cash rich company has no debt, and its' growth potential is strong. The stock has recently made its' highest close in over 2.5 years. With the technical signals triggering buying oppurtunites,...
Today UPS broke out of its' down trend with a bullish engulfing candle. If up trend resumes UPS can see new all time highs. First test will be the 100 day ma
YHOO kissed the 50 day moving average and backed away. YHOO presents a short with good risk/reward. With a target of $32, and a stop with a close above the 50 day ma
Heavy selling and dramatic drop in price indicates a trend change. Target is at long term support of 4.00-3.5
ALIM nearly doubled in price in 6 trading days this month. After retracing 61.8% of this move, ALIM broke out of its' narrow channel flag with decent volume. If we see follow through ALIMs' first target is 8.29.
There has been a year long support line dating back to 2012 that has consistently held for this bull market.
ORMP has been on a crazy bull run. This past month it has run 433%. Since its peak from 2 weaks ago, ORMP has retraced 50% of its' move and is showing promise of going on another run after breaking its' pennant formation. During the pennant formation, volume declined, and then spiked on the brake out. This move is targeting anywhere from $35-45. In two days,...
A bullish close above the previous high of 7.75 would be a sign that the price is breaking out of the flag pattern. Target for ARIA would be $8.40-10.00
First sign of uptrend continuing would be to watch and see if the SPY can break and close above this downward trendline this week.
We did get the follow through to the downside last week. The price closed at a lower low for the week. Based upon the price action last week, the SPY will make a new low this week coming to target in the 162-160 area. However I am remaining neutral on the week because I believe after creating a new low, the SPY will reverse and close green for the week. So look...
Here is a more in depth view from my weekly outlook (link:https://www.tradingview.com/v/HsdhgRkW/. Today finished with a bearish candle. As long as we maintain below the blue downward trendline then we can see a fifth wave down to my target area around the 162-165 area. Happy Trading
Its been a while since my last published chart. I am going to start publishing my weekly outlook on the Spy every weekend based upon Price action linear regression and TA. Please follow me to stay up to date on the market. Last week finished on a positive move to the upside. That being said, I expect the next few weeks to be bearish. Looking at the weekly...
Yesterday I sent out an alert when BBY was at 18 that we may have a short. We got stopped out at 18.20. Today BBY gapped up to 19.50 and has since backed off. 19.50 was heavy resistance. This marked the completion of a gap fill and the top of the hourly linear regression line. We may come back down to 18.50 to fill the gap up this morning. To get more...
I find it hard to be a bull in this market at the moment. The internals are screaming short on all accounts. MACD, RSI, MFI, and Volume all suggest a sell off is in the horizon. You can see the trend lines placed in the technicals. As price slowly marches up, the technicals continue to tread lower. The volume in the sell off last week was twice as much as the...
Here in the hourly I have displayed the intermediate support and resistance levels I think we will be trading in this grind up. If we do indeed see a slow grinding move to new highs my primary target is the 154 area. Until the first line of support is broken and held by the bears I believe we have no choice but to look to the 154 level. However I strongly...
XLY looks bearish to me. Mainly because as price attempts to break its' resistance line, the internals look weak. For now I am biased to the short side. First looking for a close below the linear regression line of 51. However if it can break through resistance and close above 51.25 we may have to wait on the short.
As the Spy made new highs in February it did so on negative divergence. I marked where this happened back in September. The red arrows points out a double top in price action in September. I like to look at the internals of a product to confirm price action. However in September, the RSI was troubling as it did not come no where close to its' previous high in...