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Spijk

US Steel currently tests a long term trendline acting as resistance. This could lead to a short term correction, but the uptrend remains intact. To enter new long position, first wait for the price to clear the resistance (at closing prices). When holding long position you could take short term profit, and wait for a pullback to re-enter a long position. I would ...

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This is a classic example of a horizontal resistance that becomes a support after a breakout. Alcoa successfully completed a pullback tot the former resistance which has become a significant support now. In addition we can draw a upward trendline (support) under two bottoms. This upward trendline can act as support(stoploss) for the uptrend (long...

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The Euro seems to continue its uptrend after a consolidation pattern. I've drawn a steep support trendline after two recent higher bottoms. Long positions in EURUSD give an excellent risk/reward ratio when a stoploss is maintained just under the rising trendline.

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Last thursday AFP reported earnings for Q4 2016. The market took it well and the chart shows a breakaway gap on high volume (not visible in chart as this is volume data from ChiX, not Euronext where most trading takes place). The breakaway followed a higher bottom at 4.80, which is also a bullish sign. I entered a long position after open on friday with a stop at...

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Another stock which reached a long term 2.618 finonacci extension level, it's HON . There are two additional signs for top formation. First, the fibonacci extension coincides with a rising resistance line. Second, the RSI shows a extreme overbought level, last seen in 2007. However, in 2007 NYSE:HON set its top a little higher and a few months later. Entering a...

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From the top in January 2014 (€ 93) and the bottom in October 2014 (€ 53) ADIDAS has been in a major uptrend which extended to the 2.618 fibonacci projection level (€ 160). The rising support line forms an ascending triangle together with the flat resistance line at the top. A breakout from the ascending triangle should lead to a major move in either direction. A...

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BOEING lends itself for a speculative short position as the price has reached a long term resistance line from the tops in 2007 and 2015. The 2015 top was also the 1.618 fibonacci extention from the top in 2007 en the bottom in 2009. Be carefull with a short position though as there no indicators yet of a weakening of the current uptrend. The price trend is...

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US Steel is in a nice uptrend since setting the bottom in early 2016. The current uptrend is likely to remain. Recently a long term declining resistance line has been broken (the red dotted line) which had been tested late 2016. After a short pullback the stock price continues its uptrend. Both the MACD and RSI show signals for further advancing of the stock...