FlashPointTrading

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Markets Allocation
100 % stocks
Top Mentioned Symbols
AAPL 18% | 2 GLD 18% | 2 SQ 9% | 1 AMAT 9% | 1
CAT: CAT Rising Wedge & Long Term Channel
51 0 5
CAT, W
CAT Rising Wedge & Long Term Channel

CAT has more than doubled since 2016. Price action has taken the stock to its highest levels since 2013 even though revenue has remained relatively flat. Notice the Rising Wedge chart pattern which has reached the top of a Long Term Channel. Volume has been decreasing and other indicators suggest the stock is overbought. FlashPoint Trading is looking for an ...

ANTM: ANTM
20 0 3
ANTM, D
ANTM

ANTM has been one of the true beneficiaries of the Trump rally. However, notice how volume has been slowly decreasing since Feb 2017 (blue line). The last breakout attempt failed to generate momentum which may indicate the long side is a crowded trade. Prefer the short side on this one considering a generous risk:reward ratio. Short Entry: $195.50 Stop Loss: ...

SQ: SQ H&S Top Developing?
79 1 4
SQ, D
SQ H&S Top Developing?

Head and Shoulders Tops are one of our favorite chart patterns to trade. If SQ does not break out to new highs soon we would look for a break of the neckline on higher than normal volume to confirm a short entry.

AMAT: AMAT Twin Peaks with a Deep Valley
58 0 3
AMAT, D
AMAT Twin Peaks with a Deep Valley

Twin Peaks and Deep Valley usually indicate a potential change in the current trend. If AMAT were to break the black uptrend line as well as the lowest point of the Deep Valley, we would expect the initial drop to fill the April 2017 common gap around $38. Further weakness could push the stock price down to $33. Short Entry: $44.38 Stop Loss: $46 Initial ...

AAPL: Final Stage Before Reversal?
105 0 3
AAPL, D
Final Stage Before Reversal?

Previously, we highlighted the major 5 Waves up inside a Rising Channel that began in in early 2009 or over 8 years ago! This is the dominant pattern and we are looking for short opportunities or options spreads as we near the top blue upsloping channel line. We will be using indicators to support any entry. AAPL's minor pattern started in June 2016 and has ...

GLD: GLD Ascending Triangle inside Symmetrical Triangle
109 1 5
GLD, D
GLD Ascending Triangle inside Symmetrical Triangle

GLD was able to slightly push above the long term Symmetrical Triangle however, indicators are short term overbought. A minor pullback possibly to the up sloping line of the newly drawn Ascending Triangle labeled A,C. We will use a breakout above this pattern as our long signal with further confirmation from our supporting indicators and volume.

WTW: WTW Short-Term Overbought
55 0 3
WTW, D
WTW Short-Term Overbought

WTW slow stochastic is near-term overbought. This coincides with a 122% price extension above its 250 day EMA. All indicators point to a pause in upside momentum.

V: V Top of Rising Channel
91 0 6
V, D
V Top of Rising Channel

Visa touched the top of a Rising LT Channel and price is currently 20% above the 250 Exponential Moving Average suggesting it may be overbought. Current Price: 100.17 Initial Target: $96 Stop Loss: $101.72 Perceived risk/reward: 1:2.69

FlashPointTrading FlashPointTrading GLD, D, Long ,
GLD: GLD Symmetrical Triangle
102 1 6
GLD, D Long
GLD Symmetrical Triangle

GLD Symmetrical Triangle Pattern began forming after bottoming in December 2015. Volume has decreased since it began consolidating in June 2017. A breakout above the downsloping line with the support of other techincal indicators could see this ETF make a run to $135. A failure to breakout would see a retracement to recent support just under $115.

SMH: SMH Symmetrical Triangle
43 0 3
SMH, D
SMH Symmetrical Triangle

Symmetrical Triangles that appear after a long bullish move are trickier to play than those that appear after a long bearish trend. Why? Because the pattern will sometimes breach the upper line of the triangle and soon thereafter reverse direction. Thus, money management is vital. What to watch for: Long Case: A break above the downsloping line of the ...

FlashPointTrading FlashPointTrading AAPL, M, Short ,
AAPL: AAPL 5 Waves Near Top of LT Channel
119 0 4
AAPL, M Short
AAPL 5 Waves Near Top of LT Channel

Each of the previous two peaks (waves 1 & 3) inside the rising channel resulted in an approximate $45 price decline in approx 1 year. Currently nearing top of rising channel (Wave 5) which may present a good opportunity to exit or protect long positions. Short traders should exercise patience and watch supporting indicators prior to entering new positions.

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