damdaman

damdaman

But a break above here and new ATHs wouldn't surprise me.

damdaman

Clear, strong uptrend. Candle signal forming at recent support confluence (20ma, up trendline, and horizonal). I'm long April 10 weekly 117 calls.

damdaman

Today's engulfing is actually engulfing 5 days of candles. Also new 52-week high. Plenty of room to run.

damdaman

Plenty of room to the downside within the wedge. Possible horizontal support at $38 and $28. But much safer to see if the wedge breaks to the upside

damdaman

Lots of people see a nice cup base breakout. This could turn out to be true. But I've been following this stock most of the last year, and this channel has worked extremely well, and it's still within the channel. Not to mention the similarities between this run to the top of the channel, and the last time it topped the channel. I will be waiting till the...

damdaman

I'd like to see it get to the top of the channel that has worked so well for a year now before shorting. But it looks to be slowing down at it's previous high at 58-59. Possibly consolidating at this level for a few days before a move to the top of the channel? Either way, risk/reward looks much more like a short.

damdaman

I got in yesterday at $56. No obvious overhead resistance.

damdaman

This box range has worked really well. I'll be looking for a candle indicator around this level.

damdaman

for SCTY. But, I didn't take this one... with falling oil prices and potentially a weak overall market, this smells a little like it might the time that this pattern breaks down. That being said, even if it leads to a small short-term rally to $52-ish (which is entirely possible given the volatility of this stock), that'd still be a good trade.

damdaman

MACD crossing over as well. First target for me is closing the gap at $92, then if it still looks strong, top of channel.

damdaman

where it might meet resistance from filling the gap in May, as well as nearing the top of the current channel. Strong holiday sales though could push it through and higher.

damdaman

lockup expiration. If it tests the $49 support level before Tuesday lockup expiration, the expiration could push it through with the next support around $38. If it treads water, I expect the lockup expiration to push it to the $49 support, and I'll be looking for it to hold for a rally in January.

damdaman

It looks like this strong TL resistance, which turned to support briefly, may be back to resistance.

damdaman

Horizontal resistance at $51. Top of downward channel also coincides here. Declining volume on rally and general weakness in the market. I shorted at $51.01, first target bottom of the current rally, second target bottom of the channel.

damdaman

This chart looks great on the weekly, too. I'm hoping to get in if it pulls back to the lower, long term trend line for a break out of this potential bull flag. Gray area is potential overhead resistance but I'm betting on it not being very strong if the channel breaks to the upside. Stock is holding up well in a seriously downward market as well. Risk is that...

damdaman

After the long term trendline was broken, it didn't take long for SCTY to reach this support level. It looks like it might hold for now. The question is, will it hold and rally back to the trendline resistance, or will it break down in a few days and head towards filling an old gap at $38.50?

damdaman

I've been short since 214. When I initiated the trade I targeted 210 as the key level in the short term to break, and sure enough it is stalling there today. A decisive break below 210 could easily send it back to 200. If 210 holds and the broader market turns up, back to 220 is likely.

damdaman

SCTY has held this trendline since it started trading. Today is the 4th test of it in the past 5 sessions. Previous tests have rebounded much stronger. MACD trending down strongly. If this line breaks (possibly in conjunction with the overall market getting weaker), could be huge downside. A rebound in the overall market could breathe some life into this...