There is a lot of imagination in it. But the idea of a strong bull market ahead seems wrong to me. Just too many risks out there:
- The dollar strength weakening US exports
- The European banking crisis
- Consumer Debt at all time highs
- ..
And the technical picture is not (yet) that bright. Once there will be a lasting break of that upper trendline around 2300...
This heavily undervalued stock bounced several times from the longterm trendline on the logarithmic chart, forming a relevant support are that gains relevance by this weeks high volume trading around that area.
Buy near 9.50 with a stop below 8.00 and a target of 15 - 16 where an upper trendline should provide strong resistance.
Volume analysis on the weekly (see image below) supports this trade on the daily timeframe, targeting an area where resistance clusters with several trendlines and fibonacci retracements.
BUY @ 1.2625-50
STOP @ 1.2465
TARGET @ 1.3140
Use the trendline as a trailing stop
USDJPY just recently bounced once again from the 200 hour MA after breaking a well respected trendline on the hourly.
A failed trendline breach and a recovery above 114.0 could a trigger further gains towards recent highs at 114.8 area and a followthrough targeting the 115.57.
BUY @ 114.0
STOP @ 113.45
TARGET_1 @ 114.8
TARGET_2 @ 115.5
The longterm resistance at 1.08ish levels should help with its technical magnetism to push prices higher above the 1.0740-1.0767 congestion zone.
BUY @ 1.077
STOP @ 1.074
TP @ 1.0825
Risk Reward Ratio: 1.83 (without spread and commisions).
EURUSD climed back near an important longterm and midterm inflection point. For the 1.08 level will be the line in the sand that separates bulls from bears. This is where an important battle about the direction of the upcoming month could take place (at least from a technical perspective).
A confirmed push above this level would give the signal to look for long...
A close above the low from October this year and the psychological number of 72.50 could trigger more bulls to support this heavily undervalued stock (P/E ratio <7). The Short term TARGET will be the 79 levels where a well respected long-term s/r level might stop the momentum for a while. Next target is the 85-86 area where some (already closed) gaps, historic...
As long as there is no daily close below 425, BUY on a breach (confirmed by daily close) of the blue line. STOP below the hammer in the 420-425 area. Tighten stops when the 480 area of trendline resistance is reached. Speculate on a breach of these trendlines but dont be too patient with it. TARGET 560-580 for a conservative target or 600+ for a more aggressive approach.
Novo Nordisk recently rebounded from an area where the long term trendline and a previous high came together to provide technical support. Speculative targets of a long position can be found from the 300 area upwards with stops around the 200 mark. But building a long term position with stops around 170 area where a historic low should provide support after a...
