TWTR broke out from nasty descending trendline on January 7, then broke out today above ascending trendline. Looks set to make a run at filling the gap left by the massive 21% drop in late October.
Target is $39.
After a brutal drop from $150 to $90, TWLO has found its feet. After breaking through the descending trendline, the stock has continued to find support at the new ascending trendline that was formed in early November. What we need to see now is a breakout above $100. If that happens, I'd be buying hand over fist.
Not much analysis needed for this one. Instead of falling below support, which would have resulted in a trip down to $1,600 or so, AMZN just broke out above resistance in a big way.
The stock now has a clear path back to $2,000, with the ascending trendline offering support along the way.
As you can see by the descending trendline, the decline in OXY over the past year has actually been somewhat organized. The share price is now at a level not seen since November 2008, which leaves me tempted to initiate a small position as the risk/reward seems favorable. My suggested stop would be anywhere from $37 to $37.50.
Obviously there are a lot of...
Nobody talks about GHC, but that's alright. Take a look at the weekly chart dating back to 2013. The ascending trendline has never been broken, and I don't think it happens here either. Doesn't mean you shouldn't keep a relatively tight stop, however.
Hugely positive development last month in BAC. Stock finally broke above the descending trendline it had bumped up against repeatedly in 2018. I think you have to back up the truck on any pullback to the ascending trendline.
Really nice reversal in ABBV over the past 2+ months. Rose through descending channel resistance AND ascending trendline resistance, then re-tested support and took off.
It's probably due for a breather, but I'd be a buyer if it re-tests support once more around $74.
Clearly defined support and resistance in an ascending channel. If it's going to rise to around $200, it will first need to break out above a descending trendline around $167. I'd maybe put on half a position here and add more if it falls to the bottom of the channel or if it breaks out above the descending trendline.
This descending trendline is problematic. If you bought lower, it may be time to take profits. If you don't have a position, I'd consider shorting the stock and see if you can ride it down to $212 or so.