A nice continuation #headandshoulders on the daily timeframe. Stock's relative strength made new high on Thursday and price could follow soon. A couple more days next week right below pattern resistance will be ideal and allow for any remaining supply to be absorbed before the breakout taking place.
After bouncing at the 50% retracement from a 400% rally, $LMPX has been carving out a base to launch its next leg higher. A break of the base horizontal resistance (blue line on the chart) will trigger a long trade entry with a run back to test previous rally high.
I've posted about $LAD last weekend and updating the setup for this week. The stock is up an amazing 400% percent from its March covid-19 low and now seems to be setting up for a breakout to ATHs.
Was hopping for a doji day right below that blue resistance line before the big breakout but Tesla had other ideas :)
Made the breakout just minutes before earnings after the close. Let's see if it holds in tomorrow's trading session.
Nice breakout pattern setting up on $PAGS. The stock been trading in a tight range right underneath pattern breakout level. Low volume in recent days indicates supply has stopped coming in. Earning coming out after the close tomorrow makes it hard to establish a position until that's out of the way. That said, volume pattern is suggesting price ready to move...
Limited Brands looks ready to breakout. Consolidating nicely. Earning tomorrow after the close.
$WDAY is building a very constructive pattern possibly setting the stage for another run higher. * Decreasing volume within the pattern structure * 6 small candle stick bodies in the last 7 days indicates contraction in volatility (the calm before the next move) * 3 higher lows (identified with green lines on the chart) indicates buyers stepping in and seeing...
A very constructive base building on NASDAQ:MASI for the last 7 months. * Decreasing volume during the base construction (Bullish) * Multiple candle stick demand tails in the last 7 months points to institutions stepping in to pick up more shares on any weakness (indicates demand to the stock even at these higher levels is well and strong). A strong daily close...
A nice volatility contraction pattern setting up on NYSE:LAD with a potential breakout to ATHs.
I posted about NYSE:RYAM couple months back when it was setting up for an ascending triangle breakout. The stock completed that breakout and now seems to be setting up another breakout entry above $4.70 level. The stock tested that level multiple times in the last 2 months and has been trading in narrow range body candles right under pattern resistance on very...
One of the stocks I am watching closely in the next few days. A breakout from the 1 month rectangle consolidation will sent the stock into ATHs and into uncharted territories.
Nice consolidation with $17.50 area acting as pattern resistance. A daily close above that level will confirm the pattern and trigger a long swing trade entry.
NASDAQ:CDNA been moving sideways consolidating its 77% gain from the September rally. The stock looks ready to break to ATHs and starts the next leg higher.
My advice, take a breather & give charts few days to reset. Tradable setups will emerge. Don't force things on the long side after today's mother of all gaps. Many stocks finished the day with shooting stars and bearish engulfing candlestick patterns. We probably trade sideways to down from here for the next few days.
NASDAQ:SGMS been trading sideways digesting its 95% move forming a 2 months rectangle chart pattern. Supply seems to be drying up increasing the changes of a breakout taking place next week.
Very well defined bull flag that could be setting up a breakout to the long side this coming week.
NASDAQ:FOCS is forming a cup and handle chart pattern with $41 level acting as resistance. A daily close above that level will trigger a long swing trade entry for a possible run to $50 round number.