RSI overbought above 75. Double top potential right at 70.50. Nothing bearish at the moment, although I don't feel this is going to break 70.50 soon. Few options here. 1. Go long over break of 70.50 with a stop under 70 to watch for false breakout. 2. Wait for it to base for few sessions around this area and then go long after some minor pullback. 3. Short at ...
Bull case: Reversed right at horizontal long term support. 200dma bounce. Above avg volume on the bounce showing buyers are finding current price attractive. Printing higher low on the current bounce. Immediate resistance at DTL around 9.70-9.80 after which it will be a definite trend change. Can buy at current prices with stop just under 9.30.
HRL long due to following setups 1) Daily oversold with RSI about 40 2) Weekly support retest after the breakout in Nov 3) Daily horizontal support 4) Support from Gapfill right below 5) Printed a hammer on Friday (ofcourse needs a confirmation tomorrow) Everything above bodes well for higher prices. Can go long with a stop under under $34.
Tested the breakout yesterday 8/24, bullish engulfing candle right at support from the previous breakout zone and rising trendline. Closed on a high in a not so positive overall tape showing very good relative strength. Can go long at current prices with a stop under the breakout zone @about 12.50. Can see higher prices from here. Nice R/R to go long.
PSA right at support from horizontal trendline and declining wedge. 10dma posing as resistance from past few days. RSI is oversold and is slowly turning up, the last time it was at these levels 24 we saw almost $20 - $40 move up. MACD is in the grave as well. Stop loss can be placed for a close below 217 for a nice R/R.
Right at a support from horizontal and rising trendline. RSI and MACD are way oversold and is at place where it bounced last time at these levels.200dma support right underneath. Some bounce here should be certainly in. If not then it would provide a good short opportunity with a stop just above 111.
Above all MA's, bounced off 10dma and closed on day's high with almost a maribozu candle. Few ways to look at the action - A bull flag formation in the last week. - Prices consolidating just around the resistance. - A not so idea Cup and Handle formation in the making. - RSI is rising and bullish and not overbought yet. A good place to go long with a stop below ...