Watching Visa complete a Cup & Handle formation as it prepares to break out into fresh highs for the stock. Breaking into new highs provides little resistance for price to run, other than fib extensions and pivots. The C&H pattern provides a measured move of $30 to a potential target of $180.
After a parabolic move up, then a breather, and another 10 straight weeks of aggressive gains...I am looking to short Boeing on a pull back from the $420's down to the $380 range. Currently trading at $422.
- I cite "Irrational Exuberance" as the reason for this short, however...
- Remember that "the market can remain irrational longer than you can...
Taking Monsanto Long for a measured move of +3.74% (+$4.00/sh) to $112.50. Stop is at $106.74 for a better than 2-to-1 R:R. Volume has been strong on green, weak on red as this formation sets up to break out.
This chart may also be completing a cup and handle on the daily, making the measured move closer to +$12, taking it to a potential price of $120/sh.
After falling hard from strong resistance @ $82 down to $72, QCOM has retraced half way up for a breath of air and appears ready to fall another leg down to previous resistance in the $70 area. You may also consider put options, bearish call spreads, or both.
All the best.
Short $AMT @ 95.16 with a 96.68 Stop, and a target down to 92.20. Price falling from strong resistance and the major psychological $100.00 number, with further bearishness showing in the price action...with a gap to close as well. Also consider using put options, bearish call spreads, or both!
All the best. :)
Bearish setup at the top of a declining channel in Toyota. Also interesting is a similar setup in Euro/ Japanese Yen. $0.83 Risk for a $5.00 target. You could also consider using put options, bearish call spreads, or both!
All the best. :)