Once again NASDAQ:CMCSA has reached a level of importance. If the stock can break and close above the $47 range with good volume, it should be a positive sign technically for the stock. In this economic environment, caution is a must.
Macro news has been coming in in abundance. Commodities are always worth monitoring. Here’s a chart on $Silver. It appears as if recent selling pressure has been absorbed. Next thing to see is who will step in to gain control. If the buyers take over, this one could rip. I’ll be monitoring.
NASDAQ:AAPL technicals are showing bearish signs on the weekly timeframe. This paired along with the micro news can warrant caution in trades in the stock. I’ll be watching to see if we actually get a pull back in the stock from this level.
NYSE:KMX is at a decision point. The setup is there but will we get the breakout from this point. I will be watching it’s next true move with volume to determine it’s true direction from here. NYSE:KMX could be worth a place on the watchlist.
NYSE:BABA appears to be setting up for a nice move. I’m moving cautiously with this one due to the MACRO environment. If things continue the way they are, this may be one to keep an eye on. This is a heavy news inflated couple of weeks ahead which could cause extreme volatility.
We’re entering a very big news inflated couple weeks ahead. With some of the fear being presented, opportunity may be presenting itself. NYSE:PLD is definitely one worth watching. Technically, a close and hold above the resistance line would gain my interest in taking a long position in this stock.
With its earnings approaching, could the results and the guidance be the catalyst needed to turn the stock around. This could be a great opportunity and worth analyzing the chart technically. It appears as the stock is starting to gain some attention in the near term as volume picks up and its forming what appears to be a falling wedge (bullish). On the larger...
$GOOGL has been trading within a price channel in its current downtrend. With trends, we don't fight them. When the structure is broken, we will reanalyze the stock to see if new characteristics has been made. Until then, we will see if the top of the channel provides further resistance. If so, puts would be in order.
The next couple trading sessions are important as they should dictate the direction we will be heading. Currently we are retesting resistance. If we can get a break and close above the resistance trend line with a confirmation bar to follow, then I would be comfortable saying we may have a short term rally clearing the $410 price mark. If we turn lower than I...
A cup and handle pattern may be developed in $CVS as we have have retraced to the .382 ratio in what appears to be the handle. I have a short term resistance in the 96.57 area. I'll very interested if we can trade above that area with force. Let's see how this plays out.
Seems to be a head and shoulders pattern in $HON where the $211.64 area is serving as good resistance. Also seems as if we're near completion of a Zig-zag correction. Would like to see us break above $211.64 with $216.74 in site. Will update as time progress.
If the low is indeed in, one could create a case for a bullish outlook on oil, $OIH. I personally have a bullish outlook on the Energy and Oil sector. This ETF is no different. Will update as time progress.
Appears we have completed an expanded flat on a weekly time frame in $XLE. Since creating the low on the week of March 16, 2020, we have been moving impulsively to the upside, which from a technical standpoint, gives me a bullish outlook for the overall sector. Will update as time progress.
If $TGT correction is complete, the current pullback can be viewed as an opportunity as the stock appears to be moving in an impulsive manner. Let's see if the stock catches support and move higher. Will update as time progress.
After a brief analysis on $VEEV, it seems as if the stock has completed or nearing completion of its correction before a return move to the previous trend which will be up. Waiting for a trigger in the stock and taking out a previous price swing high before taking any positions. Will update chart as time progress.