The R/R seems to favor the long side. The price action seems to favor the long side. I am long at 1.4964 looking for 1.54 My stop is at 1.4825 The R/R is ~ 3/1 With intelligent estimations, we can work to get the rough order of magnitude right, understand the consequences if we’re wrong, and always be sure to never fool ourselves after the fact. That sums up...
Technically Speaking Price is testing support that goes back to April of 2014 around 185ish. Not much support under $180, so a downside target would be a guess. What to do? I am looking to buy at some point, depends if the $180 level holds. I will update this post if and when I buy. If you have any opinions on the fundamentals please leave in the comments.
Technically Speaking So far holding support in the 30 area. The R/R favors a long position, IMO. I am long and looking for a move above the 52.50 level. I will start to scale out of this position under 27.50.
Technically Speaking Price breaking above 71.80. The next upside target is ~83.50ish +16% Good support down at 65.00. What to do? I feel like I have missed the boat when it was at 65. Aggressive traders might be buying here, but I am going to wait.
Technically Speaking Potash is currently holding support going back to 2009 around 16.00. The first level of supply is not until the 36 level, over 135% to the upside. Fundamentals Here is a nice write-up. What to do? I am long this stock. I will look to stop out under $10. I will hold this position until I am either stopped out or my 1st target of 38...
Technically Speaking The cross is holding the 82 level. Good support on the daily is at 80. Next resistance level is 85. What to do? I like buying dips toward the 80 handle, targeting a move toward the 85 level.
Technically Speaking Gold is testing a support level going back to April. It is also the 50% retracement of the 2016 rally. The question I wonder is this a retracement in a bull market or will we see sub 100 again? What to do? Unless you are short, the R/R favors the long side, IMO. I am looking to buy b/w here and 112, stopping out under 110. I will update...
Technically Speaking Trading right at the 20 level. Above there, who knows where this thing goes.It does appear there is room to work with on the upside. This stock has not traded above the 20 level for any length of time since 2008.
Technically Speaking Price held support around $16. Long from $17.70, Initial target is $28. Stopping out under $14.
Technically Speaking Trading a levels that have proven reliable going back to 1998. What to do? News flow is all bad. Will this company turn it around? Question is, what are you willing to bet to find out?
Technically Spekaing Price is in the support zone 30-32.50 right now. This will be the 3rd week in a row to close under the 200 WMA. The last weekly close under the average was back in 2011. A break under the 30 level could see a move toward the 22.50 level, 25% to the downside. What to do? Aggressive traders could take a long here, with a tight stop under...
Technically Speaking Price has had a tough time getting through the 10 level. If it ever does, 20 looks like a reasonable target +100%.
Technically Speaking Price is trading right up to the pivot level 68. Where is the R/R? The R/R favors the shorts at these levels, in my opinion. I would target the rising trendline noted on the chart. Stop above 73. If long, you have three options, hold and hope for bigger gains,take profits, or use a trailing stop. As always, trade your plan and execute.
Technically Speaking Salesforce is holding the 100 WMA. A move to the 2016 high print would be about a 12% move. To the downside, minor support is at 68 with 64 being the key support level, in my view. Where is the R/R? For me, this stock is in no-man's land. For a long position I would rather wait for 68 or 64. Of course, it may never get there, it might...
Technically Speaking The U/J cross is coming up on a big level around 111.00 The 111.00 level was last tested back in May and the cross sold off 1100 pips. I am not saying that will happen, but this level is obvious and everyone will be watching. What to do? If you are long, nothing to do but wait. I will watching the 111.00 for a possible short, it depends...
Technically Speaking The next level of support is the 1.05ish level. I will be looking to sell rallies at the 1.08 level. What to do? If you are short, nothing to do but wait. If you are looking to get long, I would wait and see if the 1.05 level will hold.
Technically Speaking The S&P has regained the pivot level at 2120. The next big level to the upside I will be watching is the 100 DMA right above 2140. What to do? Frankly, the U.S. presidential election is tomorrow, so I will be sitting out until the results are in.
Technically Speaking After breaking through the upper trendline, the cross is holding it nicely on a re-test. The first bit of major resistance I see is near 1.40, over 600 pips away. What to do? The major risk factors are both the Canadian and American payroll reports tomorrow at 7:30 CST. I would hold off taking a position until then. Unless a hard break...