$CAT Caterpillar looking oversold on the daily chart - catching support at gapfill around $132.50 today, already bounced nearly $3 intraday. Expecting continuation to at least $140 in the very near term, possibly further. Breaking through the 200d ema will be crucial for additional gains, may see some resistance there. Note this stock has been one of the equities...
$BZUN Baozun looking oversold (RSI & MFI), catching trend line support around $51.50 today. Expecting a bounce in the near term, assuming support line holds. Short term and medium term targets on chart. Stop loss - $49.50 Note: Observation/opinion, not investment advice.
$ADBE Adobe looking like a solid buy after tagging the lower trend line yesterday (while holding the 50d ema) of a tight bullish channel it's been riding since late 2017. RSI has not dropped below 40 this year and reversed off that level today. Adobe is a solid company with a great track record of earnings beats. Two possible trade targets below. Short term...
$DIS Disney Bouncing Off 200D EMA - Golden Cross Imminent Near term price target - $111.00
$SHOP Shopify appears to be holding the longer term trend line after bouncing off support around $151.00 yesterday. Both RSI and MFI are beginning to reverse from oversold territory. Expecting further price recovery in the near term - will monitor for a break of the 50d ema for confirmation. Short term target - $162.50 (gapfill) Medium term target -...
$P Pandora looking like a buy after bouncing off support around $7.60 today with a 50d/200d golden cross earlier this month. Medium term target - $8.50 Long term target - $10.00 Stop loss - $7.35
$MSFT Microsoft tanked pretty hard today with the overall market. But after tagging support at $97.30 we saw a nice bounce in the final hour of trading closing just above the 50d ema. Assuming we remain above the $97.30 support line in the coming days, I see MSFT continuing to bounce from this area leading up to earnings on 7/19. MSFT is a solid company with a...
$COST Costco looking over-extended on the weekly chart, appears to be holding within the upward channel limits. Valuation getting a little rich compared to industry average (P/E almost 50% > industry average). Assuming this trend line holds, Costco could be overdue for a correction back to the area of the 50d ema or ~$190 by next ER (Oct). Note:...
$DXY US Dollar Index cup and handle pattern forming with a golden cross on the daily chart earlier this month. Monitor for clean break through $95 level. Note: Observation/opinion, not investment advice.
$SNAP Looking overbought after gaining 30%+ since the end of May. After earnings gap fill to just over $14, looking primed for a correction. Will look for red candle tomorrow for confirmation. I see 10%+ downside from here within a month - price target $12.00-12.50 area by mid-July.
$TSLA tagged the upper limit of a long term bull flag today, has already begun to pull back. Expecting at least a correction back to $332 gap-fill in the very near term. If $332 support does not hold, expect a bounce at the 200d ema line. Both RSI and MFI looking well overbought. If uptrend somehow continues through this flag line temporarily, there's additional...
$JPM JP Morgan - Gap-fill from last week, now bouncing off long term support trend line. Expect to see $112 in the near term. Medium term will most likely see another move down within triangle pattern before an eventual breakout to the upside (assuming solid ER mid-July).
$DPZ Dominos has been testing the upper limits of the current ascending channel for a few days now. It's finally looking over-extended, overbought, and primed for reversal. Notice the final push for another new ATH today with a bearish divergence in volume, RSI, and MFI. Definite rising wedge pattern into the upper channel limit (shooting star doji on the daily...
$NVDA testing upper limit of rising wedge. I'm not buying it, smart money is starting to flowing out. Volume is trending down since early June. I see a retrace to at least $260, possibly $252 in the very near term. Note: This is observation/opinion not investment advice.
$UVXY Bouncing off strong support today, could see more follow through into tomorrow. Expecting a move to $11-$12 range by Friday, push through 50d ema will be key. Note: This is an observation/opinion and is not investment advice.
$VRX Shooting star doji candlestick tagging the upper limit of current channel - looking overbought on all indicators (RSI 85, MFI 90) Two possible short term targets on chart 1st - $24.40 2nd - $22.40 Medium term could see it sub-$20 reaching lower limit of channel.
$IRBT Gap-filled Meeting Long Term Resistance - will look for a close today at or below $80.25. Near term price target $73.50-$75.00 $70.50 possible if ~$73.50 support doesn't hold.
$RH Restoration Hardware major earnings beat yesterday. This is just an observation. I would not advise shorting this, but in my opinion $158-$159 range could prove to be the short term top. This is not investment advice.