MichaelGLamothe

MichaelGLamothe Premium

The major indexes often move in tandem with one another. Today the SPY along with several other indexes broke below the 50dma on heavy volume. The NASDAQ (QQQ displayed here) has been the strongest of the indexes for the bulk of this uptrend. Today it sliced below its 21ema for the first time in about a month. It looks poised to test the 50dma within the next...

MichaelGLamothe Premium

AAOI broke out of an inverted head and shoulders bottom on Friday and so far is following through strongly to the upside. This is best picked up on the daily chart. Note how AAOI broke through the neck line on MASSIVE volume. The 2nd highest we've seen on the daily chart. On the weekly chart, note the massive volume surge as AAOI consolidated along the 10wk...

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I wanted to quickly share a few thoughts on VMW as I picked up a few more shares as it broke above 94.50 today and feel its a great example of what we want to see when a stock is setting up. There are a few things I look for in what I consider a great trade setup: 1. The stock is in a stage 2 uptend 2. The stock is showing increasing tightness as we progress...

MichaelGLamothe Premium

URI has been consolidating in a flat base for a little over a month. It attempted to breakout on 3/1 but that breakout failed. More importantly, however, and what I like most about this base, is that it shook out below the low of the gap up after earnings, found support at the 50dma, and held the pre-gap high (thus not closing the gap). This makes for a...

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LITE is retesting and getting support at 44.70 (this classic pivot from a double bottom base). It can either be bought right here off support for a quick trade (with a tight stop in case it fails) OR you can wait for it to climb above short term resistance at 48.31 for confirmation. What I think about this chart: LITE broke out of a flawed double bottom. Its...

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PNRA is close to breaking out from an advanced pivot at 232.88 which is short term resistance and a move above the descending trend line drawn on both the daily and weekly charts above. Support can be found along the 21ema as displayed on 2/24 and 3/6. As PNRA consolidates along the 21ema and tightens up below that descending trend line, it's giving us both a...

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EBSB just crossed an advanced pivot at 19.10 and is looking to work its way higher. It's Relative Strength line is breaking out to new highs on the longer term weekly chart and is about to do the same on the daily chart. The 10wk line and the 50dma have proven to be important lines in the sand for EBSB and it has received consistent support at these levels. ...

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After reporting earnings back on 1/18, NFLX has spent the past few weeks consolidating on low volume. The price action has been tight and constructive which has allowed the slower moving averages (such as the 21ema) to play catch up. The 21ema is now supporting the 137.03 low made on 1/24/17. I'd use 137 or just below it as my level to play against and look...

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First we see a 2 year cup with handle starting back in March 2015. Within it is a shorter 5 month cup with handle starting in September 2016 (this is also part of the large cups handle). Earnings is only 6 days away. This will likely be the catalyst that will get it to finally break out. Be prepared in case it runs ahead of earnings.

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The bulls have been waiting for a catalyst to send the Dow above 20k and it turned out to be Trump’s first week in office. The Dow broke above 20k and the S&P 500 briefly broke above 2,300 over the past few days. The key now is to see if the gains can hold. Elsewhere, the Nasdaq and Nasdaq 100 both hit fresh record highs while the small-cap Russell 2000 is still...

MichaelGLamothe Premium

A common problem we're faced with when trading stocks is how to safely trade a stock that is breaking out right ahead of earnings. As we know, when a stock reports earnings, it is typically when it will be the most volatile. A stock can easily gap up or gap down +/- 10% or more! BAC is experiencing this right now. It is breaking out...well, attempting to...

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ABCB is closing in on an advanced pivot that is clearly visible on both the daily and the weekly charts. When pivots are visible on multiple time frames they stand a better chance at working. Here's the setup... SETUP: 2nd stage flat base Classic Pivot : 47.70 Advanced Pivot : 45.15 Support : 42.75 and rising 50dma/10wk line **note** 50dma and 10wk...

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SETUP: BATS is setting up within a 2nd stage flat base visible on both the daily and the weekly charts. BUYPOINTS: The classic pivot is 34.43 The advanced pivot is 33.83 SUPPORT: Support can be seen on the daily chart along the 21ema. Note how it dipped below but recovered the 21ema on 12/23 and 1/3. NOTES: On a breakout above the advanced pivot,...

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IBTX is setting up in a tight square box base (could turn into a flat base) only about 8% deep. It's getting support at the 21ema so far. There is an advanced pivot at 64. The RS line is climbing and remains near highs. IBTX is ranked #1 in its industry group and the group is ranked #3 per investors.com. There has been very heavy buying since mid-October (see...

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$MU provides us with a great case study for what to look for in a winning stock. Our Advanced Reports members have been long $MU since the advanced pivot entry on 11/14 at 17.94 The Setup: $MU set up in a relatively tight (approx 12% deep) 1st stage flat base with a classic pivot at 18.33. Within the base, $MU presented us with an earlier advanced pivot at...

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On a day where most stocks closed in the red and near their lows, WAL managed to reverse and close in the upper half of its price range. It did this on the highest daily volume in a month. This sets up a potential short term bounce. If WAL can take out today's high of 48 either tomorrow or within the next day or so, and then confirm the move by climbing above...

MichaelGLamothe Premium

NFLX is getting ready to breakout again after a brief consolidation over the past week. I’m seeing the breakout level at around 125.50 on a break above the descending trend line on the chart above. Support can be seen around 121.75 also drawn on the chart above. This support level corresponds with recent lows as well as the 10ema. After gapping up on earnings...

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CSRA caught my attention this afternoon as it consolidates on low volume in a tight controlled price range within a bull flag. I discovered this candidate as it passed my high growth stock screens. Here's a link to what I screen for: chartyourtrade.com Since running up after earnings on 11/9 on heavy volume, it has spent the past 3 weeks tightening up on...