It is probably not tue strongest setup however i am adding it to my watchlist.
The good thing is that 200SMA is has turned around and is trending up now, though the VCP itself is a but too deep for my liking. Lets see how it develops.
I have a position in AZO already.
Session from Thursday looks like a shakeout. Moved to new local high on Friday. I am missing a bit a clear confirmation on volume.
Next decisive level will be 2267. After that we have blue ocean ....
Time will tell :)
Look at this chart ... the strongest on my EV makers list. The only one trending above 200SMA. Recently also formed a powerplay setup with a move of over 100%. Last few days/weeks was a correction of that move. For sure something to watch.
Took a long position on JKS based on following basis: strong close (top of the range) on Friday bounce from 50SMA 50 i 200SMAs show uptrend. The entry was after the break of Friday's high. We will see how it holds. I will not have a problem to sell is it turns around on me. I am still not sure of this market.
Not a VCP but this is one of the setups that M. Minervini also talks about, the so called powerplay. Time to wait for a proper base - with VCP characteristics. Then it has got energy to go further!
Keep it on your short list - we are not ready yet!
This was to happen ... i am not sure if buying the dips is as effective strategy as claimed by Mrs Wood. Tops were in FEBRUARY 2020 while both SPX and NDX were making higher highs. Was she simply buying wrong names and not admitting to mistakes ....
SWCH shows a possible setup to new ATH (all time high) from a VCP characteristic. It is a relatively new name (IPOed in 2017) and since 2019 showing some real strength - last few days look like a consolidation at the top - no pump and dump. Key level is 31.80. To make the picture look better - i am missing a below average volume - sadly it is above average - so...
CTAS comes from manual screening outside of VCPSniper. What i like about this one is that it is showing us signs of strengths through VCP, volume does not indicate distribution, stock belongs to 'dividend aristocrats' list.
As alwasy - manage your risk.
Here comes another possible VCP entry based on VCPSniper filtering. I do like how we see the higher lows, 50SMA is turning around, 200SMA continues its upward move. 64.76 is the key price point however be aware of the wider market context we are seeing now so manage your risk accordingly.
Oil group has been one of the strongest recently. While doing my scanning i came across this one. Looks good for me .... tight price action ... however ... many of the breakouts recently showed signs of weakness therefore caution is advised.
I am not GOLD bull - i read charts. Feels like the price action is confirming what we see happening outside of markets.
i recently read a report that someone was secretly buying gold at around 1800 and putting it aside - based on yahoo search- here is the copy of it:
(Bloomberg) -- Spot gold is again bobbing along near $1,800 an ounce, as it has been since...
I posted few weeks ago about VCP on Gold. That trade got stopped out.
I encourage you to have a look at the weekly chart. To me it looks like a great example of long base with 3 contractions.
Always trade with stop loss!
I have not been posting recently - due to one reason ... the market is not giving any nice setups. As i have learned CASH IS A POSITION. I do not need to be in the market all the time. I took couple of trades and got stopped out. You see breakouts working 2-2% above breakout level and then they fail. Better to watch from a side line. So i am actually posting this...