Gnome

Gnome

A lot of bios are seeing this similar kind of pattern - a longterm sideways move after an uptrend. SGMO has this H&S like pattern and seems to have broken above the neckline in february. It started to consolidate a little and seems to have broken out above the 17.50 level today. I did miss that b/o even though I was following it, but a pullback to around that...

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I posted this chart before and was stopped out on a failed breakout. UFS came down and tested prior support one more time before now trying to break out again. It would be good to have a little consolidation before a breakout for a better stop loss level. The monthly pivots come in right at prior support levels, so depending on momentum i would take R1 at around...

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Sifting through the biotechs I came across this head and shoulders opportunity. Volume pattern confirming so far. We might be close to breakdown. Also notice the RSI trend and latest high right around 51. I suggest a stop above 110, which is about 2x ATR and gives some room. The biotechs as a group are pretty bullish at the moment, so this trade could act as a nice hedge.

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BEBE broke out above the 3.30 band of support under high volume. This came after a nice bottoming formation with the 150 MA sloping up as of breakout and as of now 50, 100 and 150 MA lined up nicely. Also the pullback experienced nice volume contraction. Enter on signs of intermediate term trend reversing to the upside. If this happens nicely, a move to around...

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PRTA broke out of longer term consolidation and after a quick run pulled back. It seems to start moving up again now. The moving averages are all sloped up nicely and volume expanded and contracted nicely. With earnings coming in after todays session this might be a nice earning play by buying some calls for limited downside risk.

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Magellan seems to have broken out of a longer consolidation. The measured move of the channel points to a move of about 15% so I would take profits on a momentum loss at a first target around 72 or a little before.

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JWN is in a solid uptrend with the MA's lining up parallel since quite a while. Since breaking out of its last consolidation, it rallied up about 13%, before consolidation again for just short of 3 months. It broke out on a very bullish day with huge volume and has retested the prior resistance. It's now forming what seems to be a bull flag, with a nice volume...

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After the sideways correction from 42 to 37 on low vol momentum and vol came in with a rally setting a new higher high. UFS is currently pulling back and there is potentially strong support in the 42.5-43 area with the prior high, the 38.2 retracement and the monthly R2 aligning nicely. Overhead there is strong longterm resistance at 50-52 which can be used as a...

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Preceeding uptrend was very clean and strong, than topping volatility came in and formed what seems to be a diamond top ready for reversal. Entry on the break of the diamond or a breakdown below 15. Possible support zones around 15 and then 13 and 12. The diamond price target would bring it right into the longterm .618 retracement. RSI seems to be breaking lower...

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Pros: - Clear head and shoulders - High vertical distance - Nice volume contractions - Volatile stock - Average short interest (1.77%) - Rather close stop Cons: - Right shoulder is slightly higher - No clear longterm trend As you can see my suggested trade setup gives a risk reward of 2:1. If the stock behaves nice and breaks down, i think this is worth a...

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WPPGY started topping out (Stage 3) about a year ago. While retesting support around 98 the consecutive rallies didn't have enough buying power to reach the previous one respectively. During the same time the 150d SMA started turning down. Beginning of october we saw a breakdown through the previous support level with two big volume days. After a rather big move,...

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PCLN formed a nice top over the time of almost a year. In the beginning of october the price broke below the major support zone that was its lower boundary during this stage 3 topping phase. PCLN moved about 9% lower and rebounded to the prior support zone. The volume has risen during the decline and contracted nicely during the intermediate term uptrend (the...