Three Drives & AB=CDBearish Three Drives with internal AB=CD. The AB=CD is showing nice bearish divergence.
IT trade ideas
IT Head and ShouldersWeak pattern, not the cleanest but again, could be interesting to see what it does if it fails to move higher from here.
$IT #long #stock formed #doublebottom #bullflag IT looks good. On the weekly it has formed a double bottom. On the daily you can see a bull flag. The over all trend is up. MACD and Stoch RSI look good. I am slightly concerned about the OBV on the daily, however, when I scroll up to the weekly it looks fine. Overall I would suggest going long.
IT - Stochastic Divergence Channel BounceIT has stochastic divergence on support of a parallel channel. Look for the stochastic to turn up and for the stock to move towards to top of the channel.
Buy: 117.00
Target: 119.29 - 121.94 (1.96% - 4.22%)
jbzstocks.com
@jbzstocks
ITAnother company from the technology sector. The breakup of the pattern and the new historical high give us a signal to open the position. In general, the stocks are high enough, but I think that we will test again 2400 points on the S&P 500. And then you need to be very careful. Do not feel euphoria about the growth of indices. At any moment everything can stop. So I always put my stops hard
IT - Short with Insider's
IT- Short
Trade Logic: Huge insider selling & technically weak as it break below EMA 5, 9 & MA 20
Entry Price: 98.43
Target Price: 91.36, just little above 50% Fib Retracement level
Stop-Loss: 101.73
Option: Sep16, 95 Put; currently trading at $2.35
& Sep16, 100 Put; currently trading at $5.55
You can check our detailed analysis on IT in the trading room link here-
Trade Suggestion date: 20/6/2016
Trading Room - Executive summery link: www.youtube.com
Time Span: 8:10
Gartner - $IT - On The Move HigherA strong earnings report has Gartner ($IT) headed towards the top of its recent range. Since November 2014, price range has mostly been between the 80-90 level, averaging 85.77. The typical momentum breakout is probably not in the cards for Gartner, as advisory services isn't a sexy industry, but it wouldn't be a surprise to see a move towards 100 over the next few weeks.
Earnings report was solid. Beat on top and bottom line numbers, reported above average industry revenue growth. EPS up 18.2% over same period last year. IT consulting will remain an area business will be forced to spend on as it is too costly to implement technology incompatible with legacy systems or be slow to implement new technologies. Enterprise customers will continue to pay for the quality services provided by Gartner.
Prior high: 94.82
Prior closing high: 91.44
A close over 91.44 is good, a close over 94.82 is great. #GetLong
Gartner: High Probability Short, Good Entry Opportunities HereTraders,
Really liking the short aspect of this trade, looks very high probability to me.
All notes on chart
Best of luck,
Tom
Strength in Gartner, but there is still floating supplyThe chart tells a story and the story unfolds bar by bar.
GARTNER: Strong but possible distribution is not discarded yetThe chart tells a story and the story unfolds bar by bar.
