Looks like good earnings stability and growth is there. Cup and handle pattern has a history of failing to follow through. If this group gains RS, look for a change in character and breakout through 49.
Planning staggered stop if breakout does work right away
50% sell breakout day low
75% sell 20 D MA
100% sell 50 D MA
The plan could change to be more aggressive if the setup improves after an orderly pullback or tightening to new highs
IBD RATINGS FOR MAR
SPY 2020 bull cycle that was sparked by quantitative easing vs inflation-adjusted data. This is the biggest threat to the middle class. Most jobs cant afford to pay their employees the wages they need to keep up with rising living costs. However, investors, business owners, and entrepreneurs are getting great opportunities.
Comparison of the SPY versus SPY adjusted for inflation. This is probably the biggest threat to the middle-class today. You cant outperform the growth of inflation in a majority of typical jobs as an employee. However, a good business owner, entrepreneur, and investor can easily outperform inflation. Stay safe friends!
Earnings inbound, strong downtrend, bad market... Just watch new range characteristics unless you like to gamble.
This needs to clear overhead supply and resistance before it becomes buyable. The best case scenario for bulls is this builds a new base. Any parabolic moves are suspect to mean reversion setups the following days.
Seems like this stock has strong support and more good surprises than bad. ADR is over 6!
Earnings are upcoming. I would love to see an early entry opportunity to allow me to hold through earnings for another potential breakaway gap as seen in Aug2021.
We will see how well breakouts work in 2022, but I wouldn't be surprised if this stock is a leader.
EPS Due Date3/4/2022
EPS % Chg (Last Qtr)800%
3 Year EPS Growth Rate0%
EPS Est % Chg (Current Yr)0%
Sales % Chg (Last Qtr)17%
3-Year Sales Growth Rate8%
Annual Pre -Tax...
FTNT looks like a standout on the chart. I really like the last breakout attempt was on +780% volume with over mil shares traded. The moving averages look very orderly. Now it just needs a good entry, breakout, and follow-through.
Coming off of 2 flat bases recently. Is in a really strong industry group. Watchlist worthy.
Like most momentum stocks, FCX is having trouble taking out the ceiling. Its at a pivot of a cup and handle formation now. Volume has been light during the Santa rally but has big potential reward vs a small risk if breakouts begin to work in this market. I would love to see continued relative strength in the setup and big volume confirmation if it can move up...