docibby

docibby

The rise of Oil has been very exaggerated ( similar to Gold ). I don´t trade it directly but oil stocks and Energy ( XLE ) should correlate. Minor SHORT for day- / swingtraders looks most likely...

docibby

Since I saw some bullish charts on 1H and 4H recently : notice the 2 year topping range, if you are long now you will be trading right in to a supply area.

docibby

Price was rejected by the WEEKLY 200 MA at approx. 39.90 - 40.00USD, but I expect re-accumulation in the course of this year. I will watch this each week and post if I see a better entry level.

docibby

VZ ( Verizon ) had this very boring sideways action on weekly charts - and in 2016 it broke higher. This stock could follow the market lower in any correction, but I am waiting for a good entry point for a BUY, as I see very good long-term prospects.

docibby

Notes on chart. Just to keep in mind, even if some bullish bounces happen along the way.

docibby

There might be a bounce coming in Apple, but if you look at the institutional buying habits - which involves stacking large orders - I think that real commitment buying will only come from lower levels. All the FANG stocks need some correction, seasonality suggests that after summer will be the earliest possible cycle.

docibby

Wait until this area beneath 201.00 USD is cleared. We will either see a decisive push above this level, or - if the general market is in " sell-in-May-go-away " mode - a break lower ( watch 180.00 USD ).

docibby

Avis Budget ( CAR / NASDAQ ) is another global brand worth watching. The company is busy with its restructuring and acquisitions efforts. Price has arrived at a major inflection point. I am cautiously bullish, but watching if follow-through above 28.00 USD happens.

docibby

We had better earnings and Sony is probably part of the gigantic Bank of Japan buy program - despite all of these facts I don`t yet see real buying. Better wait and only buy this from a solid base pattern.

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We had a tactical upthrust, followed by a consolidation range which doesn´t look very strong. It could correct further........it very often shows new signs of life before any major worldwide sports event :-)

docibby

This stock had its recovery higher after the bottom in February, we need to see a bullish close above 168.53 for any further advance. If you look at XLF ( thank you KDLANG ) and other bank stocks, then it appears as if there is NOT YET a truly bullish conviction behind those recovery moves. But any real market strength would have to include the financials....

docibby

Looks like a big diagonal Head & Shoulders pattern, with a subsequent run higher in order to shake out early sellers. Setting alerts at 54.49 USD and major big number level 52.00 USD.

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Here we can see how important this area is ( 13.69 - 13.86 ). Also notice how the drop early this year ( 2016 ) did not exceed the August 2015 sell-off.

docibby

It seems like F is respecting Fib levels quite well on the weekly chart. Looking for a weekly close that confirms a move towards a higher target ( T1 = 14.57 USD ).

docibby

Despite the 200 MA being above - it looks as if buying pressure could take price higher, I have my first target at 12.59 USD.

docibby

VISA had a strong run-up during the bull phase of 2009 - 2015. We will see if this is topping out like the general market, or if buyers take it above recent highs. Patience is best, I`ll keep it on my watchlist.

docibby

Caution is warranted for bulls, as the rebound in AXP has taken price almost to its first major target. Earnings were a positive surprise, but - as with all financials - we still have to watch if this is real buying or just a counter-trend rally.

docibby

Break above key round number 150.00USD, after forming a classic W type base. Lots of energy & resources stocks show similar price action. Keep it simple and stupid :-)