Kazparov

Kazparov

A familiar pattern is repeating itself. After a bit of (expected) volatility it appears PRTS is once again forming a Bull Flag. Earnings were positive. MA's on the hourly are crossing over and pointing up. Volume Profile on the shorter term chart is again building it's base at the upper range of the bull flag. These are all patterns we have seen before. The...

Kazparov

IP continues along in it's symmetrical wedge with continued signs of breakout attempts to the upside. There have been a couple sporadic attempts at new lows and highs which were bought up/sold off quickly. Important lines in the chart: 1. Solid white lines: The long term down trend from 2018. The line at $40 will be the strongest resistance once (if) it...

Kazparov

Its been a crazy few weeks for IP. Earnings came out and were good. Immediately we saw a sell the news event, heavy institutional selling drove the stock down to support. The within the last 4 trading days we saw a gap down (which was heavily bought up) and a gap up which was sold off. Note the volume on the gap down vs the gap up. The buying after the gap...

Kazparov

So PRTS survived through earnings. .03 EPS which was better than expected but overall margins and EBITA were all positive. I didn't play it correctly but I like to trade recognizable patterns and thought the day go go a bunch of different ways. Earning date itself saw a huge spike as high as $16.44 which helped define the top of the price channel. It was sold...

Kazparov

The air is quickly getting let out of the bag now. Point of Control on the volume profile for the long term chart clear shows this has room to run lower. RSI support line is VERY broken, now I expect a reset to lower. Earnings SHOULD be positive but the question remains on if and how the company is faring. It's certainly not the only online car part retailer...

Kazparov

PRTS has a filing with the SEC for a shelf offering of new shares worth 200 million. Given that their market cap currently sits at 568 million this is a dilution of over 1/3. Interesting is the timing of this announcement given earnings is a few days away. Typically on a great earnings call a company may mention a new share release in the earnings call. Given...

Kazparov

Another big week for PRTS. The PA seems to have made a jump to the higher price fork and is leaving the main part of the channel its been in since March. There have been have few times the price left this channel, above it in early June, and below it in late June. Although note during that period how it obeyed the fork the entire time. It pushed above on big...

Kazparov

The past few days has thrown me off. I delete the whole chart and started over. In a symmetrical wedge since the fall off in March and subsequent recovery. This is typically a continuation pattern. In the context of the bigger picture. The price action of the last few months just looks like a bear flag off a much larger down channel. Time for me to readjust...

Kazparov

IP gapped up on the open on a positive earnings release and then proceeded to sell off all day. This looks like a technical key reversal. Bearish engulfing pattern on bigger than normal volume which closed outside of the bull flag pattern it had been building. Short interest increased considerably as well. Daily MACD crossed over to bearish. Earnings report was...

Kazparov

IP has consolidated into a fairly clear bull flag heading into the earnings date. note that the price is now currently above the Point of Control on the Volume Profile. Key resistance is the horizontal orange line which was the high on April at $37.34. Will need a solid earnigs report to push above this. If this does happen, expect a sector rotation to flow...

Kazparov

Currently the stock is in no mans' land in the middle of its price channel. For those of you not using the volume profile for your trading here's a good example of what you can see. Firstly on the hourly chart above we can see that the Point Of Control (Horizontal Red Line) was at $12.47 while the stock consolidated in the Bull pennant from last week. Point of...

Kazparov

PRTS exploded again today as expected on big volume. Currently 12pm EST and there is almost the full volume from total yesterday. Price reached above the channel and now looks to be finding support at the top of the channel here. Would not be surpirsed if today's close ends up under the top channel line I've sold most of my position, a bit too soon but cost...

Kazparov

A bull flag inside a bull flag. PRTS rebounded nicely off the low of Friday. Looks to be breaking out again. Should make a trip up to the top of the channel Tuesday or Wednesday this week. I sold some 12.50 Covered calls today for added premium

Kazparov

Share price sold off on Friday morning, recovered to positive territory before closing lower at the bell. The market in general sold tech pretty heavy on Thurs/Fri. Somewhat concerning is the close below the price fork (White line) That is the first time since the uptrend started we have EVER seen a retracement below the current level of the trading fork since...

Kazparov

Share Price is in a crucial area. Note the horizontal orange line from the April high. SP is currently underneath this and coiling. But support is holding for now and may be consolidating. Larger market dynamics are in play as well. There was a brief touch above July 16th which did not hold. Now that is our major resistance zone. A breach of that take the SP...

Kazparov

As expected there is another Bull pennant forming for PRTS. Price has touched the bottom & top of the pennant now 3 times to the top and 2 times to the bottom. Note the the white line of the current level of the trading fork held as support. The main channel is clearly defined with the Green & Red lines and is still in play. I expect some more sideways action...

Kazparov

Another day, another breakout on good volume for PRTS. A member of our trading community on Slack who trades price forks helped me plot this out. Lines on the fork are a bit approximate. I was trying to chart out the escape for the main upward channel and came across this idea. The main channel is still the Red/Green line and we touched the top today and then...

Kazparov

Uptrend in IP is going well. Bottom of the key resistance zone was breached yesterday and price is now consolidating. Showing a bull flag on the hourly chart. Note the difference between now and early July where the trend touched resistance, did not breach it and was rejected. RSI on the daily is only at 60 (approx) with lots of room to run. MACD on the daily...