50ma
Bullish & Low RiskWatch for LNTH to make a move back up to past resistance around $9.70, Price has just broken above the resistance line and it is also just above the 50ma which has been acting as a dynamic support for quite some time. Also volume has been increasing, MACD looks like it is soon going to crossover and the Squeeze Momentum indicator is currently bullish.
Momentum Squeeze Play, GSVIncreasing volume, MACD crossover, broken resistance line, squeeze momentum on. Price target of $3.00, for just under an 18% return.
Watching for Golden CrossA long term bearish trendline has recently been broken, and the downtrend seems to be reversing. Watching for price to break above the 200MA to go long and then wait for a golden cross.
EURJPY Analysis Week of July 24, 2016Weekly:
Price is currently in a downtrend. The 20 moving average is currently being used as a dynamic resistance. We will use this towards our trading plan. The end of the week candle closed as a bearish pinbar. The size of that pinbar in relation to the previous bullish candle is not convincing that price is to continue its way down.
Daily:
Looking at the daily chart we can see a nice well formed channel. Price broke through lower and decided to get back into the channels range. This indicates that price has some bull movement before its continuation down.
4 Hour:
Looking at the 4 hour chart we can see a nice structure forming. A good area to go long is between support 114.500 - 115.500. A safer route would be to wait for price to reach resistance 120.500 - 121.500 to short for its continuation down.
Wishing everyone a good trading week!
End of correctionThis large pitchfork describes price action for the last month and seems to be still in play. The last week downtrend correction seems now to be over and we are now headed back to the primary uptrend that's been in play for the whole 2016. Three different items point to this:
- We visited the lower part of the pitchfork and the daily candle is now forming a hammer.
- Today's wick just touched 50MA and is now closing above.
- There is a two step bullish continuation pattern that is now complete, marking the start of a new bullrun that will finish somewhere above 1300 at the upper part of the channel.
Gold kumoAfter taking a breath to gather strength on the uptrend, price is now sustained by the Ichimoku cloud as well as the 50MA that have been acting as support.
Other indicators like the ADX are already signaling the resume of the uptrend and this should keep on up till 1245. At that point, depending on the strength of the trend, it will possibly keep on to test last top on the 1280's.
If GBP dips below hourly 200 MAIf GBPUSD dips below the hourly 200 MA it could open up to a deep drop to the hourly 100 MA and 50 MA.
GILD moving toward weekly trendline / 50 day rejectionThis uptrend will continue until 50 MA, / orange downtrend line.
I can't turn bullish on this until it consolidates above 95, and to the right of the orange trend line.
$INO - Cup and Handle formation more and more clear. Chart trending above the two MAs is a very bullish move. The cup and handle formation is looking clearer every day.
POTENTIAL LONG - GBPAUD - BREAKOUT- Breakout retest
- Price is at structure
- Rejection off the 50 EMA
- Continuation
EURUSD: BEARISH PENNANT FORMATION ON 4 HR !!!Hello Traders,
Here we have a VALID BEARISH PENNANT formed on FX:EURUSD . This type of pattern is usually formed after a strong selloff, where after the strong bearish move, some sellers are taking profits while others are joining with the downside move. This eventually leads to a consolidation that is presented in the form of a BEARISH PENNANT . Do keep in mind that this is a CONTINUATION PATTERN and therefore we expect further downside move AFTER getting a valid breakout.
NOTE #1: If we get a break and close above 61.8% Fib level for XA leg, than that would be the 1st signal for this patterns invalidation. The 2nd or the main signal would be a break and close above the X point of the pennant. Also a break and close above 50 MA would add extra confirmation to the patterns invalidation.
NOTE #2: A breakout to the downside would be MORE favourable if we get a break and close below the 61.8% Fib level for BC leg. That would confirm a further expected downside move, potentially up to the target.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
BR retests $50 and continues uptrendBR is a low volume stock I would not trade. But it is trending well so may be of interest to those of you who are happy/able to consider a position here.
This stock has been trending fairly well since breaking out of the 2007-2013 consolidation at just above $25. Price action can be a little unpredictable but this is to be expected with a low volume and fairly low priced stock. While price continued to rise in 2014 it did so slowly due to several deep and prolonged pullbacks.
Since the beginning of January 2015 the uptrend has again become established. The daily 50ma is acting as support and price has passed and retested the $50 half figure zone. Yesterday saw a breakout bar on higher volume so we should expect to see further strength to the upside.
AZO makes new highAZO has been a well trending stock for many years, especially since breaking above the $200 zone in 2010.
Despite the great trend I would not have traded this due to the low volume. I generally prefer stocks with much higher volume to help aid liquidity (although AZO has done exceptionally well without adhering to this criteria). And now the stock is pretty expensive so only those with large accounts could trading consider it. AZO can go into quite long pullbacks/consolidation which are not overly deep as far as the chart is concerned - but which are over $70 in depth (from a monetary perspective).
Overall, a good chart but not a practicable one to trade.
CI continues uptrendCI has recently begun to trend very well - especially since clearing the $100 zone. There were a couple of retests of the figure then, in early February, the daily 50ma held as support. Since then the trend has been linear.
As the trend is only just beginning to smooth out it is early to enter a long-term position at the moment. But as the overall trend has been bullish for some time it is perfectly adequate provided you have a sensible stop in place.
WWAV breaks and retests $40WWAV doesn't have much data but it has been trending up since 2013.
There was a long period of consolidation from September 2014 to February 2015. Although technically the consolidation didn't start until November the November high was only marginally higher - and price pretty much traded within the September pivot high and October pivot low range until the February breakout.
With the $40 round number ahead price may well have stalled before reaching $40, but in fact cleared it quickly - then came back to retest (with a slightly lopsided double bottom chart formation). Yesterday price broke out the more recent pivot high - and on higher volume. However, the breakout was minimal and the bar not as bullish as I would like to see.
WWAV has been trending well since 2013 and there is no resistance until possibly the $50 half figure. Volume is good, too. But, as the breakout bar wasn't overly convincing, I would wait for a clearer indication that the trend was continuing before buying this stock.
AAPL retests 2014 highWhile I love the products AAPL isn't a stock I like to trade - the pullbacks can be too deep (as I have mentioned on previous posts regarding Apple). So saying, the latest pullback hasn't been too bad and I may consider a position on this if price swiftly breaks above $133.60 (the recent pivot high).
The recent countermove has stayed above the 2014 pivot high and found support at the 50ma - so there is a good probability that price will go higher. This isn't a stock for immediate action, however, as I will be waiting for price to break above the February high.
AAPL replaces AT&T in the Dow after today's close. It will be interesting to see if this affects Apple's price at all.
AET clears $100 figureAET has been trending well, since breaking the consolidation of late 2014, with multiple bull flags.
While on the weekly chart there was a previous uptrend this stock would not have been of interest until it broke above the 2007 high of $60. Even then the trend was not linear enough for a longer-term trader. However, there were two deep pullbacks, in April and October 2014, and since retesting and clearing this zone price has become much more predictable.
From early 2015 the pullbacks have started to become less deep and more uniform - initially using the daily 50ma as support. And since February AET is finding support much closer to price action.
Now price has broken and retested the $100 figure, and proved itself to be a linear trending stock, AET offers a good buy opportunity.
KR still going strongKR is a stock I have been trading for some time - but it still offers a great opportunity if entering for the first time now.
KR first came on to my radar in 2013 as it had begun to trend well. But we needed price to take out the 1999 high ($34.91) which it did in about July 2013. After the retest it looked safe to enter but unfortunately there was a second, deep pullback in early 2014 which again retested the 1999 level. Having been bitten once it seemed prudent to wait for the break above the $50 half figure. Since then KR has continued to move higher.
This stock has an excellent linear trend with plenty of small pullback (giving us multiple opportunities to add to the trade). This stock has move up a lot in the last year but there is potential for it to move higher still.
ACT breakout but resistance aheadACT has been on a great bull run since breaking out from a pullback/consolidation (and the 2000 high) in early 2012 - as can be seen on the weekly chart.
Unfortunately, the trend hasn't been as smooth on the daily chart throughout 2014 - with multiple breached of the 50ma (which should act as support). Since December 2014, however, we have seen the trend just start to smooth out again. Once price managed to break above the $250 half figure, and the subsequent retest with a double bottom, the 50ma has shown itself as beginning to act as support again.
If price can cleanly break thought $300 this could well offer a long-term buy opportunity. But if price struggles at this level we may want to wait for a comfortable retest and continuation before trading this stock.
SPR completes bullish flagThe uptrend for SPR is still a little erratic. It has been using the daily 200ma as support rather than the 50ma - so the pullbacks have been deep and prolonged. This has not made it easy to trend trade.
However, since breaking above the 2007 high ($41.72) we have seen a slight change in personality. Price did struggle at this level and retested the area three times during December 2014 and January 2015. The retests were not clean but the 50ma also came into play so we now have a very strong support zone.
Yesterday's bar confirmed a bull flag - which also broke above the recent pivot high, on higher volume, and with a very bullish bar. However, this stock is not ready to trade right now as earnings are due today - so we should wait to see how this plays out. Price is also approaching the $50 half figure.
AWK broken above November highAWK has been trending nicely on the weekly chart since the beginning of 2014. But on the daily chart there were two deep pullbacks (in August and October) which, although just within the bounds of acceptable, would've meant several months of little real profit.
However the overall trend is up - with higher highs and higher lows, so if you are comfortable holding a position for the longer-term this is not a bad stock. Volume is on the low side, but not excessively so.
LNT bullish bar on higher volumeSince breaking above the June pivot high, at the end of October, LNT has continued it's bull run.
The June high was tested in November first with a double bottom chart pattern followed, in December, by a deep flag. However, both of these were within acceptable parameters for a linear trend so a longer-term buy position could be considered.
Despite this I would not recommend LNT for longer-term traders. While it can trend well, at times, it is susceptible to deep pullbacks making it too erratic to comfortably trade.
And with a short trading week and lower volume expected I will be waiting for the first full trading week of 2015 before looking to open any new positions.
