XPO is showing signs that the bottom is in. After the stock was in freefall, it made 2 bottoms at $45...followed by a break out of the sideways channel. I like this setup. Long at $65 with a stop at $64. Looking for continuation...
FCX has taken a beating since it peaked around $20 a year ago. But I seem some signs that the down trend might soon come to end. The stock is in a falling wedge pattern, and a breakout to the upside would be very bullish for the stock.
Here is how I would play this one:
Wait for the break of the resistance at around 12.68 (red line). It has attempted to break 3...
Disclaimer: All biotechs are extremely risky, so do your own DD
I like this setup in CNAT. Despite the fact CNAT has recently failed a trial, I look at this as an opportunity to run before the next dataset in the 1st half of 2019.
Reasons I believe this is:
Stock has a history of filling all gaps in the chart. Gap at 4.50 currently needs to be...
Dips to $158-$160 should be bought. The stock was in free fall and finally found a bottom at $141. Then after it earnings it finally broke a resistance level it had previously struggled with. As long as the new support level holds, and we make higher lows from here, I like this setup.
Chart showing the entire price history of Blackberry. Price has 18 year support in the $5-$6 range. Price recently dipped all the way to $6.60 before rebounding to $8. This is an easy buy and hold for me. Downside seems limited.
FCX has been trading in a well defined channel since January 2016. Every bottom test of the channel has been a buying opportunity. Once such opportunity appears to be fast approaching. Coincidentally, the 200 day SMA is hovering near the bottom of the channel. I would feel comfortable going long right around the bottom of the channel/200 day support.
STM is displaying what I believe to be a Head and Shoulders top. The uptrend line has already been broken. I would feel comfortable shorting a close below the 200 day SMA. Keep in mind STM reports on 4/26/18. That might be the catalyst needed to complete the pattern. 1st Target is around $16.