This stock index which measures the performance of developed country large and mid-cap stocks, not including US and Canada has taken it on the chin in recent weeks. It's highly levered to European stocks, and therefore has been impacted by the Greece turmoil. However, supportive monetary policy in the eurozone, ...
Taking an intermediate term view on the Russell 2000, fundamentals seem in place for the indices to move higher, and a pretty reliable technical pattern, the inverse head and shoulders pattern projects upside to $133. Using a rising trendline as a rough timing indicator, I think we could get up to $133 by July 10
HYG just completed a 5 wave sequence to the downside, and a "corrective" 3 wave sequence looks to be unfolding now. The final leg of the corrective wave should see prices return back to $95, which is where wave 4 began
While price held support today at the December lows, MACD momentum did not also find support at it's same level in December. That's a bearish signal and indicates further selling is likely in the short-term. The 50% retracement from the October lows is at $195 and the 61% retracement is at $192
Key price levels are 34.40 and 34.67. If price is able to break back above 34.67, a resumption of the bullish trend should bring prices back up to $36.
An inability to hold 33.69 will open the floodgates for further selling
Fireye is not outperforming the broader market as it did yesterday, but it is consolidating in a tight range today, and it's found support at the 38.2% fib retracement several times.
I expect for shares to revisit the highs for the day as price breaks out of the 5 minute triangle consolidation
This stock remains ...
Fireye is moving bullishly today in a down market. It's actually been outperforming the market since the start of the year. Maybe it's one of those January effect stocks - tax selling to end the year and investors are coming back to it in 2015?
I see a harmonic butterfly pattern in Fireye that would project ...
Ichimoku Buy and Sell Signals are noted on the chart above.
Today marked a buy signal
1. Price moves above Cloud (trend)
2. Cloud turns from red to green (ebb-flow within trend)
3. Price Moves above the Base Line (momentum)
4. Conversion Line moves above Base Line ...
Per the long trade idea for BABA from yesterday, I'm still long BABA. I'm using the CCI Zero line as my line in the sand to stay in the trade. The price swings are etching out a possible Gartley or Crab formation
A NR7 pattern formed from 63.91 up to 66.33. Price action broke below the pattern today, which typically signifies a downside breakdown that is equal to the size of the pattern ($2.34 in range). Projecting downside to 61.85 within the next 7 sessions.