ITM.Trading

ITM.Trading

Testing the outside edge of this weekly pitchfork. Strong weekly support through $24.50-$25 area. Potential to trade back inside the pitchfork towards the median line ($30+). A stop below $24 would be suitable for this setup, which is about 2x the average true range and below all relevant support. R:R of almost 4:1

ITM.Trading

1) Price has rejected its 50% retracement, its 50 week moving average and lower bollinger band 3 weeks in a row 2) The recent weekly candlesticks have formed 'tweezers' which typically occur at bottoms (multiple long shadows downward) 3) Weekly structure support (look left) also respected 4) RSI in the middle of the range so entry is reasonable

ITM.Trading

Key points 1) Confirmed break of ascending wedge beginning November 2014 2) Break of 50 week moving average 3) Lower highs and lower lower price structure 4) Large volume indicating distribution by large holders 5) RSI not oversold so short entry timing is reasonable 6) Note double lower bollinger band rejection could be viewed as bullish, but in the context of...

ITM.Trading

Key consideration here is the strong weekly reversal back through the 20 day simple moving average

ITM.Trading

Key consideration here is the week on week rejection of the lower bollinger band at all time lows

ITM.Trading

Key points; 1) ADX is giving a very strong bearish signal here that a downtrend is emerging 2) Price has consistently rejected the 20 day simple moving average 3) Price is incredibly weak on a very strong market day 4) RSI is not oversold yet so timing for a short is reasonable 5) MACD has not crossed down yet so timing for a short is reasonable 6) There is no...

ITM.Trading

Key points; 1) False break. Price shot through resistance (old highs) then reversed back underneath it. 2) ADX is too weak to suggest a strong weekly trend 3) Lower lows and lower close compared to last week 4) Weekly uptrend level has already been broken, and thus has transitioned into a sideways / range bound pattern. Thus selling high levels / buying low levels...

ITM.Trading

Key points for a $PRXL long are; 1) Held 0.764 fib level and key support level (old resistance). 2) 3 weeks of higher lows and highest close in 3 weeks. 3) RSI is not overbought yet which is desirable for a sensibly placed long according to this oscillator 4) MACD indicates that sellers are too late to sell a turning point downwards since it has already...

ITM.Trading

Highest close of 2015 with three consequtive weeks of higher lows. Bullish.

ITM.Trading

A few reasons to be bearish $MW Mens Wearhouse going forward; 1) Weekly price has put in a lower high and lower low than last week 2) Rejection of the key $59 resistance level which is very strong weekly resistance. 3) No price compression has occurred in this ascending triangle formation as the price has rapidly moved away from its price support without testing...

ITM.Trading

A few things to note here; 1) ADX has begun moving up, indicating potential for a new downtrend to emerge 2) Weekly support has very convincingly been broken 3) Price structure is now lower highs and lower lows. 4) Weekly MACD shows no sign of recovery at this point in time. 5) RSI is not oversold yet

ITM.Trading

Several reasons to be bearish $CVA from a technical standpoint 1) Trading right on trendline, 50 day and 200 day moving average resistance 2) Not oversold, so timing for a short is suitable 3) ADX has gone flat after being extremely bearish, but may continue and has not fallen yet. 4) MACD has already crossed so the bounce to the upside is already mature.

ITM.Trading

The up move that $CHMT has benefited from may reverse soon due to several reasons; 1) DMI- and DMI+ are converging on one another 2) ADX is dropping dramatically, almost through the key 40 level 3) MACD Is showing no resistance to this down move 4) Price action has been very bearish even despite earnings beat, indicating it may be overbought at these levels A...

ITM.Trading

$PZZA is bearish for numerous reasons; 1) False break above resistance followed by re-entry into range. 2) False break followed by hanging man candlestick. 3) Sudden jump in volume and ADX are the result of a one off earnings beat instead of due to natural supply/demand fundamentals. 4) RSI not only failed to break higher along with the price but also shows us...

ITM.Trading

Key factors here for $BXS are the following; 1) Price appears to be uptrending, but this trend is weak and likely to reverse here. 2) Price is stalling at a key resistance area. 3) The ADX has plumetted dramatically, indicating that the strength of the trend is very weak / non existent. 4) RSI is in the middle of the road which essentially means our timing is...

ITM.Trading

The RSI has bounced off its lows that coincide with the March 2015 low. Lower bollinger band has broken indicating ideal location for a counter trend trade. The open has moved up through the lower boll and maintained it throughout trade today despite the soft market, forming a harami candlestick pattern. This indicates potential consolidation of the move at this...

ITM.Trading

The high ADX indicates that this negative trend that has emerged since March is strong and thus trading in the direction of the trend would be advisable. The RSI is not oversold and the stock has backed bounce aggressively off its lower bollinger band back above the 20 day simple moving average. The MACD has already crossed up above the signal line indicating that...

ITM.Trading

$AZPN put in a higher high and a higher low today despite the overall softness in the market. It is also coming off its trend line support as well as breaking back above the 0.764 fib and the 20 day moving average. Finally the RSI is not overbought and the ADX remains very strong indicating that the trend remains in tact and is unlikely to reverse.