Looks like we're a day or so away from breaking out of the downward channel formed as part of the cup's handle. There's some resistance around 30, and then we're on our way to breaking out past the cup's top at around $35.
Upside of a cup and handle completing is ~$35 from the point where it breaks the downward channel (so ~$28 + $35). Of course this will happen...
This looks like a cup and handle formation for DK - I'm thinking that it may correct down to between the .5 and .786 level before rebounding. And then the upside looks to be in the 40's. I'll be contemplating a purchase as it nears the bottom.
Also note that the the 100 SMA is crossing up the 200 SMA.
I think TSLA will continue its correction until it reaches ~ the Fibonacci .5 and then it should start its rebound. The daily matches the daily which will be at ~.786 level.
It looks like the bottom will be ~ 450 - 480 with an upside price target of ~900 for sometime in the fall.
I'm short for the short term, long for the long term!
From looking at the weekly for GEVO, I think it has another week to go before completing its correction... why?
* In reviewing other green energy (GE) stocks they all corrected below the 20 SMA in the weekly charts, this has yet to do that
* Also with other GE stocks, they corrected back closer to the .768...
This uses BE as an example of what I do when I calculate the Fibonacci retracements and extensions, which are used to measure corrections and future price targets.
I start by finding the location of a correction. I define a correction as anything the closes below the 20 period moving average. The lowest point in that correction becomes the first...
I ran my Fibonacci retracement and trend extension analysis and here's what I'm seeing...
After retracing almost 100%, we look like we're bouncing off the bottom and starting to crawl our way on to the next target of ~15 (Fibonacci 1.618).
I think I'll be taking some profit when we get to ~13-14 (Fibonacci 1.272/1.414) range and then close out the position when...
Another correction completing and it has some good upside to ~21/share.
Look for whatever you use as a confirmation signal and jump on.
Depending on your risk tolerance, you might look at...
Risky side ~Current Price
Safer ~8 (after breaking the 20 DMA)
Safest is after 11.20 (recent high)
This one came on my radar over the weekend. After some healthy corrections in the clean energy sector, there are a few stocks that looks poised for a rebound.
Doing some basic Fibonacci retracement and extensions analysis says that this could reach ~21. Buying in @ ~6.50 I'll probably look to take some profits @ 17 and then hold on until 21.
As I said before, I'm looking for this complete a cup and handle pattern. We were in the downturn of the handle and we ended the day with a bullish hammer.
Currently up 7% in after market trading!
Fingers crossed - good luck everyone.
Remember to do your own homework and let me know what you think!
I'm cautiously optimistic that this has hit its bottom after closing a 42 to 37 gap. I bought in at 40.
The day ended with a bullish hammer, looking for the next couple of days to reveal if this will have a break out.
After adding more of this stock to my portfolio today, it's always a nice thing to see a bullish sign at the end of the day.
This stock didn't suffer the same downturn as other stocks today, so I'm hopeful that it's a sign of a strong sign.
If it starts pulling higher in the next day or two, I'd expect it to break out above previous highs.
Good luck - do your...