Before I enter a long position, I like to have at least two signals of confirmation. In the case of $SHAK we see price coming into a Fibonacci Retracement Level which coincides with the VPOC (Volume Point of Control) for the time frame in question. This is what we call an area or zone of confluence and is the area where I will take a shot at a long 10/10 times. It...
As $SAVE comes into its longer term trend support, coinciding with the .618 Fib Retracement I am looking to go long. Shopping the $42.5 March calls here.
Highly volatile, but worth the wait. I like the spot here, bouncing right at the Fib Retracement Level where heavy buy volume occurred previously. Grab some and hang on for the ride.
This is everything I want in a chart. Consolidation pattern after an uptrend. Price comes down to touch the lower edge of the symmetrical triangle, leaves a long lower shadow signalling buyers defending below.
Watch for a break out back up to test $50.
$MU
Since breaking out of its extended rectangle consolidation, semi conductor play $RMBS has come back to retest the breakout area, forming a falling wedge pattern into good volume profile support. I like it as a long here to retest its most recent highs. I'll be looking to take a long here on any pullback.
RARE has been consolidating into a textbook falling wedge pattern and is trading just on the underside of the volume point of control. RSI is displaying a bullish divergence and I like this to make a move back near $70 in the next 2-3 months.
ABEO is on my radar as a stock to watch. Recently it broke out of its consolidation range and has come back to retest. The large volume spikes (green) show likely institutional accumulation and I don't think the stock will trade much under $15.00. Watch for a "trip it to rip it" down near $15 and from there I will be looking to take a shot on the long side with...
Canada software stock $ANY has come into long term support and has the wedge pattern I look for. Bullish RSI divergence. I could see a company like this throwing the name "blockchain" into their name and watch out to the upside.
After a completed 8 Wave cycle I think we are seeing GPRE come into support ending Wave 2. Watch for the start of Wave 3 soon. I am looking to get long here with first initial price target near $23.
JAZZ completing a falling wedge pattern with a bullish RSI Divergence. Falling into support area with volume profile and trend support. Keep an eye on this one.
Watch as WMGI trades close to $22 and that is where we want to try a long. Trend support, falling wedge and bullish RSI divergence. Setting up nicely around $22.
This isn't a trade you have to go rushing into as you should get a chance to buy lower, but please keep this on a watchlist. After a large run up, $IPI has been consolidating in this range for a few months and may be ready to break out above. A move above $4.25 can get fast to the upside.
A post I did some time ago playing out I believe just how it should:...
I think MULE is coming into an area where I feel comfortable taking a shot on the long side. Market mechanics for the past couple of years have taken on what I like to call a "trip it and rip it" pattern. Stops get run and then at maximum frustration, the stock rips higher. I think we might see that in MULE after a bit more downside. See the gap up with high...
This pattern has been a workhorse and has worked incredibly well in this environment. Look for a pullback to the lower region of the wedge, as price works its way toward the apex. These patterns most often act as continuations in the direction of the trend, especially when the gap up was on incredibly strong volume as we see below... It has respected the 38.2%...
