IWM has been forming this bear flag over the last couple weeks. This looks picture perfect with the IWM showing a beautiful gap back at $165ish. Great time to sell some calls, buy puts, or just drop them. Markets could rally but they look ready to drop another 10-15%. Raise cash and be ready to buy when blood is in the streets!
Wayfair was a darling in the COVID era but just like many others, it jumped too fast and too far. These gaps act like magnets, and I will be a buyer in the 50s. maybe end of this year. Not a recommendation.
MO is giving me the same feelings when I saw CVS coming back from low 50's into 60s and 70s. Got over $110 before pulling back recently. The only issue I have with cigarette companies is the regulation. Menthol cigarettes get banned for "attracting kids due to the flavor" when no kid smokes vs vapes these days. MO has not made good investments in JUUL and in...
Silver has also been consolidating for a long while and the risk return here is beautiful. Silver will only be used more and more over the next decade. I like the alternative uses for silver whereas gold is not as versatile. Silver is much more volatile though. This is not a recommendation to buy or sell. It is for informational purposes only.
Monthly chart of MOS. She has been killing it over the last several months. I added for clients during its breakout last year. Some consolidation would be nice but ultimately, that $90 mark is a nice target if we cannot fix inflation in the materials space. This is not a recommendation to buy or sell. It is intended for informational purposes only.
FXI is China's large cap ETF. While I do not think this actually is a massive bear flag, it will be interesting to see how this plays out. Worst case you can play the trend. Good luck! This is not a recommendation to buy or sell. It is for informational purposes only.
Gold is finally looking like it can keep moving higher. Risk return is still very good here with a low correlated investment. Love to see it above $200 before summer
MA and V have been consolidating for many months now. Bot are looking like they could continue running for a while. I would probably choose V over MA but both are cash cows. GLL This is not a recommendation to buy or sell. It is for informational purposes only.
FB has a nice divergence here. $214 stop. 1% downside with much higher upside. Nice risk reward.
Joe just recommended ABBV. Great company, way over valued and he would more likely be selling into your buying. Do not follow these fools.
WMT has been consolidating and should continue down to 124-125. Nice bounce at that level with low downside risk. No gaps below.
SE is a strong company but these several gaps below are very worrisome as they tend to act like magnets to the stock price in negative trends. Should be fun to play though. These are fun if you can play quick.
TorndaoF5 asked for this one as well. I like the look of it. $38 ish is a good stop here depending on risk tolerance.
TornadoF5 asked me to chart this. I like the consolidation here and think it can continue higher as oil prices continue higher. He also asked for COPX so that is next. Good risk return here.
SCCO has a lot of tailwinds with the economy the way it is. The next few years could easily see prices continuing to rise. We do not know exactly what will happen, but markets are showing a positive longer-term outlook. I could see this rising to $100/sh by EOY.
GLD heading north. Let's see it above $200. This is purely a technical play since there are plenty of reason to believe this is a temporary rise if the fed does not follow through with what they have planned. Russia - Ukraine tensions must be adding to this as well.
MRNA breaking down nicely. Would like to see it at $84 by summer.
DKNG has been beaten badly recently. I would be careful that this is not a false breakout as people get excited about the Super Bowl. As more people think about it, it becomes more popular but also an easy target for shorting not long after. Possibly next week. Keep your stops tight. They could also announce record number of people on the app during the superbowl...