UnknownUnicorn182749

UnknownUnicorn182749

This 60m chart of JKS shows an ongoing impulsive move higher. Price broke out of a downward trend channel in late 2018, establishing a swing low around $7 that serves as the start of the wave count. From the bottom, we can count a series of Wave 1 / Wave 2 rallies preceding a strong Wave 3 push higher. There is a clear five-wave subdivision in Wave 3 which...

UnknownUnicorn182749

Today's trade idea is a long-term buy on ACADIA Pharma. Starting with a weekly chart on the left, we can count an impulsive move from the 2010 low (starting below $1.00). The extended Wave 3 clearly subdivides into five smaller waves, increasing our conviction in the count. It's also worth highlighting that the prior all-time high around $18 held as support after...

UnknownUnicorn182749

Here is a multi-timeframe look at Tableau (DATA). Starting with the daily chart on the left, we can see that price has rallied from the 2016 low back to the all-time high around $130. The stock has moved higher within a series of trend channels - the steeper of which is clearly an Elliott Wave impulse. With price testing trendline support here, we're looking for...

UnknownUnicorn182749

The chart on the left is a weekly view of Raytheon. From the year 2000 low, the stock rallied nicely within a trend channel before breaking topside resistance in 2015. After topping out around $230, RTN has pulled back to retest the prior trend channel as support. Looking at a smaller timeframe on the right, we can see the sharp bounce off of the trendline and the...

UnknownUnicorn182749

Here is a multi-timeframe look at FFIV. The stock recently broke lower out of a long-term corrective channel on the daily chart, setting up a move down to prior support around $125. We're looking for price to retest the trend channel as resistance before continuing lower. Drilling down to a 120m chart, price action doesn't necessarily look impulsive to the...

UnknownUnicorn182749

This multi-timeframe look at MSFT makes a case for taking profits on long positions as the stock grinds higher in Wave 5. Starting with the daily chart on the left, we can see a clear five-wave impulse dating back to 2015. Price was neatly contained within the base channel until Wave 3 pushed through topside resistance and then fell back to the channel mid-point...

UnknownUnicorn182749

TTWO closed higher today following a mixed earnings report and soft guidance. The stock briefly traded down to $95 post-close yesterday before rallying through today's session. Highly-correlated competitors, EA and ATVI, also posted nice daily gains as investors seem generally optimistic on the video game sector. However, this chart of the top three names in the...

UnknownUnicorn182749

MXL is a small-cap semiconductor name that we've been tracking for a few months. Semiconductors have been one of the strongest performing industries over the past three months, putting up over 20% since the beginning of the year. This trade idea looks to take advantage of underlying strength in the industry. The 120m chart of MXL shows a strong rally from the...

UnknownUnicorn182749

Here is a multi-timeframe look at PDC Energy. The daily chart on the left shows a simple A-B-C correction that was neatly confined with a parallel corrective channel. Since establishing a swing low at the bottom of the channel, PDC has rallied back to and through the channel's mid-point. This suggests that the stock may be headed back to the top of its range above...

UnknownUnicorn182749

This 60m chart of gold shows an ongoing consolidation within what is likely an impulsive move higher. The larger sequence started from the swing low in August 2018, but we're only focused on price action from the early October low. After forming a simple Wave 1 rally and Wave 2 pullback, gold broke higher in a series of impulsive five-wave moves within an extended...

UnknownUnicorn182749

Avis is having a good 2019, rallying off a triple-bottom near $21 to current levels around $34 over the last four months. We've been tracking the stock since it broke higher through trend channel resistance back in February. The rally from the low appears to be impulsive, with an extended Wave 3 on surging momentum. The stock is now trading sideways in what we're...

UnknownUnicorn182749

Fortinet has been moving impulsively higher in a five-wave sequence since 2016. Looking at the daily chart on the left, we can see what appears to be an extended Wave 3 that broke higher out of a parallel base channel. After topping out around $94 in October, FTNT pulled back and found support on the topside of the channel - a common support area for Wave 4...

UnknownUnicorn182749

This 60m chart shows an extremely bullish outlook for RCL. Following a three-wave correction from $130 to $90 in late 2018, the stock has rallied in what appears to be a five-wave move higher. Price has broken above the prior B-Wave swing high and is setting up for a new series of higher-highs / higher-lows. With a bull flag forming above key Fibonacci support...

UnknownUnicorn182749

I posted a short setup on ALGN back in June of 2018. The stock had just broken out a Wave 4 triangle and was grinding higher in Wave 5. I took a short position on a trendline break at $340, which in hindsight was an early entry. I held the position for months as the stock chopped sideways to higher, but was finally rewarded when ALGN gapped lower to $230 in...

UnknownUnicorn182749

This 120m chart of SEE is showing what appears to be an ongoing impulsive rally off the October 2018 low. Price bounced from the $30 level to $38 in Wave 1 before a sharp retracement in Wave 2. A parallel trend channel formed by connecting the swing points was broken in February on strong momentum, signaling that the stock may be in an extended Wave 3 move higher....

UnknownUnicorn182749

This 120m chart of LUV shows price action since the stock's December 2017 high. Southwest spent the entirety of 2018 in what appears to be a "complex correction" in Elliott Wave terms. The corrective sequence, labeled W-X-Y, is comprised of two simple A-B-C corrections connected by an X-Wave. Price was largely contained within a parallel trend channel until the...

UnknownUnicorn182749

This is a daily chart of Mastercard showing its impressive three year rally from $80 to current levels. The pattern is an undeniable Elliott Wave impulsive move higher, with an extended Wave 3 on strong momentum. After breaking out of its base channel in 2017, the stock put in a near parabolic rally (even on a log-scale chart) to its Wave 3 high around $225....

UnknownUnicorn182749

HCA broke higher out of a parallel trend channel in early 2018, rallying from $100 to $140 before entering a correction. The price action from the October 2018 high appears to be a flat correction, which is a common Elliott Wave pattern following strong impulsive moves. In this type of correction, Wave A is a three wave counter-trend move followed by a three wave...