AlgoTrend

AlgoTrend Updated 

SMG (currently $117) is reporting earnings in the near-future and will be one to watch as it approaches both the .786 fib and 2019/2020 accumulation/distribution levels. A rally likely takes price back to resistance at the .618 fib where it will also contend with upper line of the down channel. Above these and the initial upside target looks like $150-155. ...

AlgoTrend

Based upon the volume profile, AI's stock has been in basing stage since March. An Inverse H&S has been forming since late March and the right shoulder is starting to form. According to standard technical analysis, it is only confirmed upon a break above the neckline however, the neckline is 13 points away. I would much rather accumulate AI here considering if...

AlgoTrend

The last 4 parabolic moves saw Apple's stock decline anywhere between -29 to -40% (from break of curve NOT high). My last analysis on Apple saw nearly a -32% drop. If history repeats itself, another windfall in Apple is in the making and another big score to come. This is not a recommendation to buy or sell Apple. Before investing or trading, please do your...

AlgoTrend Updated 

Grabbed short at 259.61 and like Risk:Reward of 1 to 3 here with measured move down to 254.77 over next couple of days. Stop set at swing high. Do your own due diligence or talk to your advisor as this is not investment/trading advice.

AlgoTrend

Technically, the stock has some hurdles too clear. However, it has made a higher low here recently and volume surged today. With massive call buying only a few weeks til expiration, either someone knows news is pending or an institution thinks the 5G story will lift the stock. I bought the calls and own stock as a speculative play only. Trade at your own risk!

AlgoTrend

Two bearish patterns have emerged in FB. The dominant pattern is the huge Diamond Top with a secondary Head and Shoulders pattern. A break of the rising trend line of the diamond top will likely see a test of the H&S neckline at around $178. If this fails to hold, a measured move down to $160 area is in the cards. Risk:reward set up nicely here at 1:2.5 and...

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Love their products but not current chart. While Bank of America is raising their price target to $290 (which isn't too far away), I am raising a red flag. This weekly chart speaks volumes. Every parabolic move in Apple has been met with a fierce selloff. The least was a drop of 27% and the most 40%. On a a break and close of the parabolic curve, and only...

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There have been quite a few posts here and elsewhere regarding a rising wedge pattern in the QQQ. The trouble with continually extending the upper line on every tick higher is that it paints a false picture. In my humble opinion, QQQ broke through the upper line of the wedge back on November 4th, backtested it a few days and has proceeded to move higher. The...

AlgoTrend Updated 

Activision Blizzard fell from grace in early Oct 2018 and has been forming a base for the past 6 months. There are two dominant patterns to watch with this one. First, is a Symmetrical Triangle which is nearing the apex (or decision point) and second, a Complex Head and Shoulders pattern which will only be confirmed on a break above the neckline. FlashPoint...

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Even with a report of reduced enthusiasm for legalized pot in Canada, Cronos Group (CRON) reported a positive earnings surprise of $0.36 (US) versus estimates for a $0.03 (US) loss. Revenues continue to expand however, issues with distribution, packaging and licensing resulted in slower quarter-over quarter growth. As a result, Cronos Group's stock dropped 12.5%...

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With market internals showing signs of weakness and less and less mega pharma co.'s hitting new highs, FlashPoint Trading Academy has been on the hunt for a good shorting opportunity. We've made plenty of money trading Merck to the long side and now its time to reverse our position. As you can see by the above chart pattern, MRK's price action has formed an...

AlgoTrend Updated 

QQQs have been on a tear for the past few days and GOOG earnings report may be the catalyst for needed rest and/or reversal. Our indicators suggest that we may be in for $3-5 point drop. Be sure to click like and follow FlashPoint Trading Academy for other profitable ideas. Thank you!

AlgoTrend Updated 

Divergence in technical analysis is simply a separation between price action and various indicators or oscillators. Divergence however, should never be used as a stand alone tool. FlashPoint Trading Academy uses divergence to assist in our swing trade entries and exits. FlashPoint entered a long in DIA back on January 17th at $141.23. Having noticed a...

AlgoTrend

FlashPoint Trading was alerted to sell short /reversal signal shortly after the opening this morning on QQQ 15 min chart. After closer inspection, we noticed a Symmetrical Triangle or spring with 5 touch points. A dump below the up sloping blue line will likely try close the April 3rd gap around $182.90. Any additional selling pressure could see a decline to...

AlgoTrend

Apple Inc. (APPL) is one of those stocks I love to trade because of its easy to define channels, trend lines, support and resistance, and impulsive wave patterns. Even though I own a Macbook, several iPads and iPhones, as well as an Apple TV, I no longer see an innovative company with clear vision of the future. What has kept Apple's stock at lofty levels has...

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Analysts predict that Procter & Gamble earnings growth rate will slow down to 6.88% over the next 5 years. The recent rally in PG's stock price however, would have you believe the company's earnings and revenue were growing at a double digit rate. From a technical perspective, indicators are rolling over as the stock is climbing in a parabolic manner inside a...

AlgoTrend

Though Cup & Handle Patterns are generally good performers novice traders tend to enter way too early. Though UGA has formed a Cup & Handle, this is only its minor pattern. The dominant chart pattern is a Rectangle and could slide back to retest the break above the 250 EMA. At FlashPoint Trading Academy, we will only enter a long position on a high volume...

AlgoTrend

Commerzbank forecast that a record coffee crop in Brazil next year, as predicted by many commentators, “will probably not be achieved… given hot and dry conditions after the flowering phase” which kicked in around September. Such a dynamic, “supported by reshuffling of positions on the part of short-term-oriented market participants, could cause a price...