With SWKS running from 40 to 47 in less than a month, it is finally taking a breather. Price is currently consolidating just under the 47 mark. If SWKS can close above $47, it will trigger a buy signal for the next run up to $50.
After making a $10 run from its' April low, FB formed a flagging consolidation pattern. Today FB has broken above that consolidation pattern with conviction to start its' next run up. Look for FB to test resistance at the 67-68 area. If that doesn't hold then FB can easily test its' ATH
I wanted to point out that trend trading is trading support and resistance. What do i mean by that? the first thing i want to point out is you need to spot out support and resistance before you place a trade on the long or short side. Did price close above a key level? did momentum break out with it? if the answer is yes then there is a strong indication to the...
eBay broke down major support at $50 and closed on dead lows at $49.60 on Friday showing relative weakness as markets trading on highs. Today, it opened with gap and caught some early follow through. Gap open could be new point of reference at $49.30, then we have $49.50 previous low of the day and then $50 psychological level which should act like resistance if...
SWKS is on fire. Recent earnings revisions, and analyst upgrades has provided the catalyst for Skyworks to make its' next leg higher. May 29 marked its' highest 52 week close since the earnings release made in April. This cash rich company has an amazing Quick and Current ratio of 5.76 and 6.94 respectively, and no debt. Short term price target is set at 50.00,...
First this pattern appears quite difficult to read. But once you put the targets into perspective, one witnesses that the primary wave 3 (iii) is an exact 1.618 Fibonacci extension of wave 1 (i). By this token if the count ratio of 1:1.618:1 is to hold, then the next primary wave high is going to be ~ 1.64 level, which is a hefty ~1100 pips gain. I would...
Friday saw a huge institutional volume spike on a shortened trading day. This came at great support for YOKU and we have very clear bullish momentum divergences on the stochastic and mac-d histogram indicators. Of course, the bullish pin bar that developed due to this strong support bounce is confirmation that this stock is poised to go higher from here. I would...
Fellow traders, in my last chart, I accurately predicted the recent rises several days before they came about with the use of the Weekly Stochastic. When I looked at our current position to see our progress, I compared the current weekly level with that of the past two trends. From this level of stochastic in the previous trend, we had a 2126% increase and then...
The fundamental indicator list of TV actually lacks Percentage Price Oscillator, although it is described in the support pages at www.tradingview.com(PPO). In the chart you may find the Pinecode for PPO, which is calculated by using ALMA instead of EMA. It acts as a better alternative to MACD, and the MACD related trading strategies may be used with PPO as well....
Nice consolidation above previous resistence (strong Close above), ATR very low probably will expand right from the OPEN, higher timeframe is clear, WWDC is coming soon (speculators may be building smaller positions). Buy only if market very strong or consolidating on low ATR above yClose.
On a weekly chart, it appears that there was a double top formation. Of course, it is the first sign, we need to see the price going down to the neck line, that would give the second clear sign and the rest will come by itself. As far as technical indicators are concerned, on a STOCH or Willam R% basis, we may appear to be overbought, but, if you bare in mind the...
Monday brought a bounce off of the 1.128 extension to form an Harmonic 'Alternate' Bat Pattern. I would look to get long the stock at the Monday close price with stop loss tightly below the lows of Monday with profit target just in front of the next resistance level. We also have a stochastic cross along with bullish momentum divergence on the mac-d histogram....
$GOOGL....Looks bearish as it has retraced much of its recent uptrend from 10/13'........that usually doesn't bode well for longs when a bullish uptrend is retraced quickly.....also it doesn't seem to have much bullish volume for a reversal to happen....if it breaks support around 525 then it could test the 501 level which is the .618% Fib from the uptrend.....if...
No position; but accumulation on the daily as indicated by the positive divergence of price making lower highs and MACD/RSI making higher lows (and in oversold territory). Could be a bullish setup to watch. However, symmetrical triangle breaking below may indicate a continuation of the short term down trend and possibly forming the right shoulder of a (sloppy)...
Friday brought a huge bounce on very high volume at a great support level for CBS. There is also very strong bullish momentum divergence seen on the mac-d histogram and the stochastic oscillator makes it seem price is making plans to pop off hard. I would play a limit order for the closing price at 56.74 with my stop loss 5 cents below the low of Friday. Sticking...
Specific Details on Indicators, Thought Process, and Rules are in 1st Post.
Apple (AAPL) was down yeasterday 1% . In the morning it went through prev high of the day and gave another $3 up move but reversed and get back below our pivot point at $601 with engulfing bear move right to $597.29. I started to trade it for Short on retest of failure point at $601 and when it confirmed resistance there from another side it built some...
Bullish Bat Pattern on TJX if price reaches 56.63. We saw increased volume on the advance of the 'XA' leg and lower volume behind the decline to pattern maturity. There also is bullish momentum divergence from the last swing point within the 'D' leg of the pattern to where price is currently. There also seems to be a rough bat pattern behind this pattern that...