gorillacharts

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Markets Allocation
62 % stocks 10 % commodities 10 % indices 19 % other
Top Mentioned Symbols
TVC:DAX 9% | 2 INDEX:DAX 9% | 2 AZO 9% | 2 CMG 9% | 2
gorillacharts gorillacharts SPY, D, Long ,
SPY: SPY - DRAGONFLY DOJI FOLLOWS HAMMER
56 0 2
SPY, D Long
SPY - DRAGONFLY DOJI FOLLOWS HAMMER

Yesterday, we highlighted a hammer candle on the SPY ETF and today we get a rare Dragonfly Doji candlestick pattern. Both patterns are reversal patterns, where bulls push stocks back to the opening levels, after initial weakness. This, paired with bottoming slow stochastics (for example) makes us bullish ahead of NFPs tomorrow.

gorillacharts gorillacharts UCG, D, Long ,
UCG: #UNICREDIT - NEXT EUROPEAN BANK WITH A BREAKOUT
25 0 3
UCG, D Long
#UNICREDIT - NEXT EUROPEAN BANK WITH A BREAKOUT

Unicredit is the next European Bank to stage an impressive base breakout. EU Banks are at a turning point, outperforming, and have a lot of catch-up to do. Technicals look great. Unicredit appears to move into a vacuum and I see immediate upside into 2.75/.77 I'm a chart analyst, not a fundamental analyst, but here are a few thoughts what could drive EU Banks ...

gorillacharts gorillacharts AZO, D, Long ,
AZO: AZO AUTOZONE WITH A TEXTBOOK DOJI - BULLISH REVERSAL
27 0 3
AZO, D Long
AZO AUTOZONE WITH A TEXTBOOK DOJI - BULLISH REVERSAL

Autozone stock is one of the most oversold in the S&P500 and yielded a textbook doji candle today. Tuesday's supports were successfully tested. I'm looking for a bounce into moving averages at 770 and/or 790.

gorillacharts gorillacharts SPY, D, Long ,
SPY: SPY Bullish Hammer Candle - Risk Is To The Upside
113 0 4
SPY, D Long
SPY Bullish Hammer Candle - Risk Is To The Upside

Everybody expects a correction. Sentiment isn't top-like in my view. Today's little selloff immediately triggered buying and yielded a bullish hammer candle off current range lows. The bullish hammer is further accompanied by bottoming slow stochastics, to me a signal of a fresh bull leg higher. Again, with everyone bearish out there, the risk is to the upside. ...

gorillacharts gorillacharts AF, D, Long ,
AF: AIR FRANCE Nice Risk Reward - Selloff Exhausted
15 0 3
AF, D Long
AIR FRANCE Nice Risk Reward - Selloff Exhausted

This is looking interesting. Not much to say: RSI divergences developing, with the stock down 45% since March. The selloff seems fairly exhaused. Nice risk reward, if you put a stop at 4.79 and target at 5.27

gorillacharts gorillacharts AZO, D, Long ,
AZO: $AZO AUTOZONE DOJI WATCH - POSSIBLY A REVERSAL IN THE MAKINGS
5 0 3
AZO, D Long
$AZO AUTOZONE DOJI WATCH - POSSIBLY A REVERSAL IN THE MAKINGS

Doji watch: a doji in the makings after last week's selloff and very oversold readings. A close around these levels here at $753 could yield a bullish reversal doji.

gorillacharts gorillacharts GXG, D,
GXG: GXG Near-Term Bearish in Bullish Long-Term Context
3 0 2
GXG, D
GXG Near-Term Bearish in Bullish Long-Term Context

Deadly bearish gravestone doji on Friday, which also rejected the neckline to a potentially large and bullish inverse H&S pattern. Either way I stay cyclically bullish given my work on the weekly and monthly charts, as well as developments in EM in general. Short-term however, this one sees bearish follow-up on Friday's candle and could pull back towards $9 worst ...

gorillacharts gorillacharts TSLA, D, Short ,
TSLA: TESLA COMPLETING A TOP, FAILING AT THE 200DAY MA
78 0 4
TSLA, D Short
TESLA COMPLETING A TOP, FAILING AT THE 200DAY MA

Tesla stock lost the 50day moving average on Friday and is testing the 200day moving average support today. At current levels the stock would also clear a clean 'lower high' top. On a close below $217 (200d ma, horizontal support) could see a deeper selloff starting with next better support at $199 (gap) and at $188 (summer low)

gorillacharts gorillacharts CMG, D, Long ,
CMG: CMG Technical Base With Strong Follow-Up On Friday
45 0 4
CMG, D Long
CMG Technical Base With Strong Follow-Up On Friday

We stick to our view, expressed on Thursday, when CMG cleared a small base and the 50day moving average at $405. I see next bigger resistance at $443, where the stock could clear an even bigger base. We are observing long-term reversal action with potentially more upside. Stay tuned!

gorillacharts gorillacharts DAX, D, Long ,
DAX: DAX - Bullish Continuation Descending Triangle
49 0 1
DAX, D Long
DAX - Bullish Continuation Descending Triangle

It was a pain trading the DAX all of last week. Several candles indicated tactical bounces off important breakout supports around 10470 - 490, however the index failed to distance itself from key supports, decisively. Friday ended the week with a bullish engulfing pattern. Bigger picture, we are looking at a descending triangle pattern, which I expect to resolve ...

gorillacharts gorillacharts CMG, D, Long ,
CMG: CMG - Chipotle Clearing a Base
21 1 2
CMG, D Long
CMG - Chipotle Clearing a Base

CMG is back after finding a very good floor at 385. Stock is clearing a base and also taking out the 50day moving average. Upside into 444 seen.

gorillacharts gorillacharts DAX, D,
DAX: DAX Not Playing Out As Expected
36 0 1
DAX, D
DAX Not Playing Out As Expected

The anticipated bounce off breakout supports didn't play out as expected. Lack of follow-up is a signal that we need to accept. I'm not turning bearish, yet. Key support to watch on the Index is at 10443. Below would complete a minor top with light support at 10374 (gap) and heavier supports at 10129 - 10093 - 10066 (key moving averages, early August reaction low).

gorillacharts gorillacharts NOVN, D, Long ,
NOVN: Novartis Ready For A Fresh Leg Higher
5 0 3
NOVN, D Long
Novartis Ready For A Fresh Leg Higher

Novartis has corrected about 7% towards and below its 200day moving average, and is coming back. A close above 78.35 today, would confirm that. Momentum indicators were a little oversold and are bouncing. Stop at 77.50 Target zone: 82.80 - 84.00

gorillacharts gorillacharts AMZN, D, Long ,
AMZN: Never Ever Ignore a Hammer Candle! Amazon
64 0 4
AMZN, D Long
Never Ever Ignore a Hammer Candle! Amazon

I really missed that one in the makings... Textbook hammer candle on Amazon, yesterday, and the stock is up quite a bit already. However, with the momentum that AMZN has got going, any shallow dip should be bought, especially when it ends with a Hammer. I'm a bit obsessed with hammers. Slow stochastics are also bottoming, so possibly indicating a good swing trade ...

gorillacharts gorillacharts LUX, D, Long ,
LUX: Luxottica Offers Attractive Risk-Reward
19 0 1
LUX, D Long
Luxottica Offers Attractive Risk-Reward

Luxottica's slowing fall over the past six months has been nicely accompanied by bullish or improving momentum divergences. Levels around 42 seem to serve as a good floor for the time being. The 50day moving average has been capping any efforts since May, and a break above it, may be a first technical catalyst, with the second waiting @44.69 for the completion of ...

gorillacharts gorillacharts DAX, D, Long ,
DAX: Sticking To Dax Bull Case
26 0 3
DAX, D Long
Sticking To Dax Bull Case

Yesterday's candle was actually bullish. Long-legged candles signal reversals, even if the intraday selloff may have suggested otherwise. The key message: breakout levels ~10490 were tested (violated), but held. Index is off to a fresh swing higher, which could target 10860 (late December high) and 10981 (cycle fibo level). With that in mind, yesterday's mini ...

gorillacharts gorillacharts KC1!, D, Long ,
KC1!: Coffee Long Is Playing Out Nicely
69 0 6
KC1!, D Long
Coffee Long Is Playing Out Nicely

3% since my idea on Friday. Bounce adds to my conviction. Targets initially at 158, then 170.

gorillacharts gorillacharts XAUUSD, D, Long ,
XAUUSD: SHORT-TERM BULLISH GOLD AFTER HAMER CANDLE
38 0 2
XAUUSD, D Long
SHORT-TERM BULLISH GOLD AFTER HAMER CANDLE

With lousy and direction-less equity markets today - Europe rollercoaster, US hibernating - let's take a look at Gold. The precious metal yielded a near-perfect bullish hammer candle today. I usually like to see those at the end of a longer downtrend, but would never want to ignore a hammer, when I see one. My longer-term technical work suggests a fresh bull ...

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