AMD is showing some great downside signals. - Textbook head and shoulders pattern. - Abandoned baby candlestick pattern. Depending on your risk tolerance, enter short now or wait for break of neckline. Either way it's a great short play.
CVS showing a gartley pattern. While I don't usually go in for harmonics on stocks, there's a lot of confirming signals here. Plus it just broke major support. Short this baby! Look for anywhere between a $65 and $75 target depending on your timeframe and general trading strategy.
TAP is currently forming an elliot wave pattern and is down to its .386 retracement. This is a good opportunity to go long. Date discovered: 03/01/2017 Position: LONG Entry: 99.10 Stop:98.60 Exit: 104
ALNY showing signs of an elliot retraction. This is further confirmed by the choppy peak and the fact we're trading well above the "trend line" Position: SHORT Price target: 47.72 (.382 with some cushion) Stop: 52.80 Logic: Elliot retracement, fibonacci retracement, trading above its trend line
KBR plunged down on earnings, and quickly recovered to its ~15.65 resistance level. It is showing a lot of long wicks at this level on decreasing volume, and the 15 minute chart shows further bearish signs. A short entry into this position with a price target at the 14.74 resistance level could yield positive gains when combined with an options play.
Lands end is showing strong signs of bouncing off support. This is after the past few months have been showing a nice wedge / consolidation pattern and it broke out nicely. Good odds that this is the formation of an elliot wave (wow I'm finding a lot of these today). Date found: March 2nd, 2017 Position: long target: 20.54 stop: 17.89 Logic: Support, minor fib...
Another elliot wave pattern. This one's almost textbook. NTES completed an elliot wave pattern approximately two days ago, and should now enter its elliot corection wave phase. Looking at its Fib retracement we see that the .786 lines up pretty closely with the end of the main impulse AND the gap up from two weeks ago, which makes a good price target for the...
Good short entry for BAC on the bearish engulfing pattern. This is further confirmed by the past three days of trading attempting to push the stock up and failing. Tentative price target is 23.47 but as always, monitor for new levels of resistance.
VIPS is showing a shooting star pattern on decreasing volume, as well as RSI and MACD overbought signals. Enter short, setting stop loss halfway up the wick (13.75). Set price target at either the smaller 12.60 resistance level or the major 12.00 resistance level, if you're more aggressive.
$GM is currently trading at the top of its price channel and is forming a shooting star pattern on its daily chart. Furthermore, it's also forming a sort of "micro" head and shoulders pattern with the two previous channel highs. Looking at the hourly shows decreased volume, declining MACD, and declining RSI from yesterday. Combined this presents a very strong...
NKE is showing the following strong short entry signals: - descending price channel (examine weekly chart to see this easier) - Currently at top of descending price channel - Showing strong resistance, a successive lower peak (not quite a true head and shoulders), and divergences. This is a good short trade that could be played several ways. - Swing play: Enter...
AT&T is currently forming a descending triangle pattern (look at weekly / daily charts for confirmation). It is also at the resistance line for the descending pattern on the hourly chart. Wait for break of convergence pattern below and then enter short. Set your stop loss slightly above the middle of the convergence pattern to avoid false breakouts, and set your...
Unilever shares surged after Kraft Heinz announced plans to purchase the company. Talks have subsequently fallen through . Expect shares to come back to earth again on Tuesday at market open. There's strong potential for an "impulse" play here, as the stock will likely open low and continue lower. - Enter immediately at market open on Tuesday, Feb 21st. - Set...
Agilent technologies is showing a double top formation at the ~51.62 resistance level. - Decreased volume on second peak - MACD and RSI divergence. Enter short and expect to take profits above the new ~49.35 support line.
Brookdale Senior living is showing a bounce off a strong resistance line. -Sellers attempted to force stock down further but were unsuccessful, as evidenced by the hammer candle. - Enter LONG with a price target of $16, slightly below the previous peak, to avoid extra unnecessary risk. - Set stop loss at $14.10, below the main resistance line. Get out...
ALCOA (AA) showing signs of consolidation at support. Look to enter long on break of upper consolidation line OR short on break of support line. Long position is more likely given recent price action. LONG play (break of upper consolidation line): - Enter stock at 36.39 - Look for exit below the 38.95 support line within three to four days. - place stop loss in...
Verizon (VZ) is showing strong bullish signals and an ascending triangle pattern. It is currently at a great entry point. This is a good 10-20 day trade (somewhere between a swing a medium term play). Strategy: - Enter LONG immediately. Set price target just below previous peak at $54.50. Set stop loss below support line at $48 (can be adjusted based on time...