TechnicallyCorrect

TechnicallyCorrect

NYSE:QGEN weekly gave a bullish engulfing at the 5 and 20 EMA crossover along with MACD crossing up. This is after a triple bottom process around $46.

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NYSE:CHGG weekly is ready to continue its uptrend. Last week gave a very bullish outside engulfing bar right as the 5 EMA crossed the 20 EMA. It is a very strategic spot and it is aligned with the MACD crossing up as well.

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NASDAQ:PTON has formed an inverse head and shoulder pattern and looks ready to break the neckline. I like the price action in the last few days in conjunction with the MACD which is just about to cross positive.

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NASDAQ:HAIN tried and failed to close under the 200 EMA 4 times. Now it has broken the upper trend line and MACD has turned positive with today's outside bullish engulfing bar. I like it for a buy but I am going to wait to see if we get a small inside day tomorrow because a rest day would make the setup even better.

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AMEX:IWM weekly looks very concerning as it may have formed a double top. Last week's big down bar cut through the 20 EMA and the trendline. I expect more follow through to the downside in the near future.

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NASDAQ:REGI daily is ready for a buy after a long process of rounded bottoms and now a trendline break with MACD confirmation. Buy above Friday's high at 65.08 Stop loss under July 8th low at 57.90 Profit target is just under ATH at 116.90 Risk/Reward is 7.22 Can definitely pick a more modest profit target with a smaller risk reward if you want. Tailor to...

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NYSE:K daily long setup: Over the last few weeks prices have filled in the gap made on the May 6th earnings and then formed a double bottom at that support level. On Friday prices broke the top trendline and MACD has crossed positive. Buy taking out Friday's high at 64.57 Stop Loss under double bottom at 62.41 Profit Target 72.78 Risk/Reward 3.8

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AMEX:XLE has formed a head and shoulders top. It broke the neckline on July 7 and today it failed again after retesting the neckline. Looks like a good shorting opportunity.

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NYSE:IFF looks like it has run out of steam. It used up a lot of energy just to make the recent new (barely) high and now it has broken the trendline and looks ready for a short. MACD is negative and is accelerating.

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NYSE:YUM looks bullish as it broke the trendline and was able to hold above it today. I expect it to at least retest the previous highs at $122.

TechnicallyCorrect Updated 

Keep an eye on NASDAQ:MAR this week. It looks like it is getting ready to break out. A small inside day tomorrow would make for a perfect entry setup.

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NASDAQ:NTRA weekly long setup: Entry above last week's high at 121.25 Stop loss under last week's low at 112.63 Profit target 169.03 Risk/Reward 5.54

TechnicallyCorrect Updated 

NYSE:DIS broke the down trend line and looks ready to take off. It gave a small retracement bar today which gives us a perfect spot for an entry at $180.09 The stop loss should be under the local low at $170.31 The profit target is the ATH at $203 Risk/Reward Ratio of 2.3 could be better but good enough with this clean of a chart.

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NYSE:LMT long setup: Entry above Friday's high at 384.89 Stop Loss under June 29th low at 372.75 Profit target 442.03 Risk/Reward 4.71

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NYSE:CALX gave one of my favorite bars today which I like to call a Death Star. It is an outside bearish engulfing bar that tried (and failed) to make a new high. It is one of the worst bars you can see at the top of a chart. This one also broke out of the top of the triangle (and failed) and then broke the bottom of the triangle and closed under the trendline...

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NYSE:MGM has a big rounded top pattern that looks ready to break. Today's bar pierced through the trendline convincingly and I think it is ready for a big drop.

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NASDAQ:TTD weekly looking very bullish if it can take out the high of last week's bar.

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NASDAQ:MTCH weekly broke out of a bullish pennant and then gave a small inside bar . If it breaks above the high of last week's bar, it should have smooth sailing to new all time highs. Notice the MACD confirmation as well.