MichaelGLamothe

MichaelGLamothe

CYBR appeared for the 2nd week in a row as the #1 ranked stock on ChartYourTrade's Top 10 Setups in Bases. It setup a fantastic RORO trade discussed at length on the ChartYourTrade Community page here: chartyourtrade.com Here is an excerpt from this weekend's analysis of CYBR: BASE TYPE = 2nd stage base on base (latest base is a flat base) CLASSIC PIVOT =...

MichaelGLamothe

NOAH tested and found support at the 10wk line this week. It may be working on a potential square box base or even a flat base if it continues to trade sideways for another week or two. Note how the volume has dried up while NOAH has consolidated and how it has seemingly "walked up" the 10wk line. It's RS line is nearing new highs ahead of price as...

MichaelGLamothe

AAC not only hit fresh all-time highs today and earned a spot on ChartYourTrade.com's "Gainers on Volume", it also provided us with a great example of how to effectively manage stops using moving averages and potential areas of support. At the onset of a trade, I typically like to give it very little room. I’ll set a stop slightly below support and key moving...

MichaelGLamothe

In the past 4 trading sessions AMBA has appeared on ChartYourTrade's Gainers on Volume 3 times. Yesterday we highlighted some of the elements of a climax run. They included: 1. Largest daily price run up (Not yet. On January 7th AMBA experienced a gain of +13.46%) 2. Heaviest daily volume (CHECK, we had this today) 3. Exhaustion gap (Not yet) 4. 70-100% above...

MichaelGLamothe

Many a great trader have said that a stock can run much further than anyone considers logically possible. Since the end of May AMBA has run about 46%. Since the February low of 48.50 AMBA has more than doubled! And since breaking out of a consolidation on 5/15 AMBA has yet to touch the 10ema. Of course it will come down to earth at some point but when it will...

MichaelGLamothe

CUBI is attempting to breakout from an advanced pivot at 25.78 on above average daily volume (tracking 25% above avg at the time of this writing). It's RS line is breaking out to new highs on both daily and weekly charts ahead of price.

MichaelGLamothe

SMCI was one of our favorite picks from the free excerpt of the Ready List this weekend. Of the 38 setups in primary bases this weekend, SMCI was ranked #20 overall with a Stock Evaluation Guide score if 8.75. Today it broke out from the advanced pivot at 34.46 on heavy volume and closed near the top of its trading range. From here, for the move to continue...

MichaelGLamothe

AVGO just broke out of a 4th stage cup-shaped base. It appeared on ChartYourTrade's "Top 10 Setups in Bases" this weekend and was the number 1 ranked stock with an overall rating of 10. Here is a snippet of the notes that ChartYourTrade Gold members received on 5/23: BASE TYPE = 4th stage cup shaped base CLASSIC PIVOT = 136.28 ADVANCED PIVOT(s) = 130.90 SUPPORT...

MichaelGLamothe

VEEV broke and closed above resistance at 28.05 today on heavy volume (see daily chart). We can anticipate additional resistance around the $29 level due to the long-term descending trend line resistance started back in December 2013 (see weekly chart). If VEEV can close above this descending trend line it may mark the beginning of a fresh uptrend for the stock....

MichaelGLamothe

After reporting earnings, NTES gapped up to fresh highs on the heaviest daily volume in over a year. So far it is holding that gap. If NTES can clear the highs on 5/14 of 143.93, it will confirm a continuation of the trend over the near term.

MichaelGLamothe

SWKS is working its way above advanced pivots at 100.43, 97.41 and 96.99 within a 2nd stage flat base. It is presently making a run at the classic pivot of 102.77. Support may come in off the 50dma, the recent low of 95.91 (both the 10 and 21emas are currently at this level) or 92.33 as a stronger zone of support. The RS line is breaking out to new highs as...

MichaelGLamothe

QLYS provides us with an example of 2 great lessons: the importance of learning how to analyze bases and second, why running ahead of earnings is usually a bad thing. First, QLYS recently formed and broke out of a base on base pattern. Typically in a base on base pattern, the 2nd pattern should be shorter and shallower than the first. Not the case here. The...

MichaelGLamothe

$EIGI broke out of a 1st stage flat base on 4/9 and at the time was profiled in ChartYourTrade's Top 10 list as the #1 setup. On 4/27 it closed below the 10ema for the first time since breaking out. Using this as a signal to exit would have locked in about a 10% gain. *The 4/23 low of day at 22.09 also could have been used as a defensive stop.

MichaelGLamothe

GILD has been consolidating since September and has found support on and around the 200dma. The 200dma is close to converging with the 50dma, as well as a descending trend line started on 10/31. A firm break/close above that trend line will indicate a change in trend.

MichaelGLamothe

FLTX recently broke out of a 1st stage cup with handle. Since breaking out it has received consistent support along the 10ema. As it approaches this long term resistance level, it wouldn't be surprising to see it take out the near term 10ema support level before running further.

MichaelGLamothe

AMWD first appeared on ChartYourTrade's Top 10 Setups in Bases way back on 12/20/14. It scored a 9.1 after being put through our Stock Evaluation Guide (to learn more about the guide and download it for free, click here: chartyourtrade.com ) AMWD finally broke out of a 12week long flat base on 2/3 and then proceeded to trade sideways. Sometimes sitting through...

MichaelGLamothe

QSR has provided multiple advanced pivots within its base and it is presently beginning to break through the classic pivot at 42.98. It will be interesting to see if QSR pulls back in the near term and if it does, if the advanced pivots can turn into areas of support (along with the rapidly rising 10ema). Here are some of the notes on QSR provided to...

MichaelGLamothe

FLTX also appeared on this week's Top 10 Setups in Bases and was ranked #3 with a rating of 9.3 from our Stock Evaluation Guide (download the guide for free here: chartyourtrade.com ) Here are some of the notes provided on FLTX to ChartYourTrade Premium members this weekend: BASE TYPE = 1st stage cup w/ handle CLASSIC PIVOT = 39.57 ADVANCED PIVOT(s) =...