AAPL has been showing weakness at the trendline resistance. Imo with the upper wicks and indecision candles the past few weeks, it looks weak, I reduced my position expecting a pullback. This could also be a bull flag and could we could see a real break of the trendline and move higher toward all time highs.
3M is currently consolidating at a long term trend line/long term moving average (100 Monthly SMA)/ and a yearly pivot level. With 3M offering an attractive dividend yield and being at an attractive level it may be a good fit for some long term investors portfolio.
ATVI has earning coming up and I would love a gap above 51.50 (in the green circle) out of this consolidation causing bears to be trapped. On the weekly chart it looks like it might have put in a bear trap with that long weekly wick last week. Similar to how it crated a bull trap before the earning on 8/11/18. Playing devils advocate it could be a trap for bulls...
KHC is forming a bullish Island Reversal. Recently the stock gapped down below 29.00 and never filled. Today it gapped above 29.00. Could this be the bottom. It is a retest gap so I will give it a few days to a week to retest to take a small position.
Looks like Kellogg is forming a head and shoulders pattern on the weekly chart. It also happens to be forming right on the 200 MONTHLY SMA! Looking at the monthly chart the trend is clearly bullish...with controlled risk its definitely worth a shot. If it doesn't work out this time ill be looking around $42 if it gets down there.
I believe we will retest the 200 Weekly SMA or some lower support levels. I would like to see a big double bottom off the 200 weekly SMA so I can see some consolidation between the major daily moving averages and the 100 weekly SMA in the next week before another breakdown to retest the 200 Weekly.