04JUN16 (Daily) - Was considering shorting the stock below the $39.61 level, for a rebound to $35.59 should we get bearish signs,
however while the stock has had a strong pin bar form from high 40s, we had stronger volume and a larger move to push the stock
into its upper trading range. Additionally we may find a base at $38.16 which limits out downside on the...
03JUN16 - Stock looks quite bullish approaching the top of the trend channel. Look for continued momentum into next week and possible breakout out from the trend / resistance line at $33 or pullback to retest channel lows at $25. The stock is quite volatile, look to wait after the pullback and close below the resistance level for entry to minimize...
Stock looks like it is going to reverse at heavy resistance / trend channel that is in confluence with the 0.5 fib level at $69 and is heavily overbought on the RSI (80).
Long Position - Breakout from the downward price channel and a base of support at $69.
Short Position - If we get confirming bearish candlestick...
05JUN16 - Entry criteria:
1. Short Position - If we get confirming bearish candlestick formations at the stop of the channel supporting by weak market performance over the week, potential to enter short and ride to $137.
2. Long Position - Potential to trade this long if a breakout forms out from the downward price channel and a base of support...
Key fib level in confluence with strong support level, potential quick rebound from the pullback of $17. Look to enter at $15.59 with a tight stop loss (1 - 2%), look to take profits above higher fib level at $16.10
Potential long position of a key fib level that has confluence with existing support levels. Look for either:
1. Positive price movement long to confirm rebound.
2. Further consolidation at the $2.22 level that re-affirmation that the level is holding.
- POSITION: Long
- PRICE: $63.02
- TARGET PRICE: $67
- STOP LOSS: $61.80
- TARGET ENTRY:
- Looking for entry on Monday on upward price movement.
- Appears to be a pullback on a strong upward trend.
- Aggressive stop loss to be pursued.
Trade Direction: Neutral (hold until for consolidation & RSI drops)
Execute Price: $69.68 (look for short term pull back at around $23.50 for entry.
Price Target: $25.83
Stop Loss Target: $22.88 (2.93%)
Time Frame: 1-2 weeks
Cross at the EMA50 could signal a trend reversal upward. however RSI shows the stock could overbought. Wait for further...