BRS - Bristow Group Inc. (NYSE) Possible Head and Shoulders reversal with neckline break, watching $14 breakout on Volume or stay / close above for a possible target into high $16's - $17 area
Sep 29, 2016 WL
CYH - Community Health Systems Inc. (NYSE) Looking for a spiker into $12 - $13 area, put in a nice base at $10 mark any dip closer to it is a buy, if goes parabolic will use $13.50 as possible short
Head and Shoulders
Whats is Head and Shoulders?
Head and Shoulders is a reversal pattern that happens after an Upternd, H&S has three peaks two shoulders (left and right shoulders which are low peaks and almost equal) and head (highest peak which is in the middle), the completion of the pattern gives us the signal of a Reversal. As the pattern forms we have pullbacks, those pullbacks will be forming a Neckline (horizontal support line).
Head and Shoulders is a reversal pattern that happens after an Upternd, H&S has three peaks two shoulders (left and right shoulders which are low peaks and almost equal) and head (highest peak which is in the middle), the completion of the pattern gives us the signal of a Reversal. As the pattern forms we have pullbacks, those pullbacks will be forming a Neckline (horizontal support line).
Sep 28, 2016 WL
RGSE - Real Goods Solar Inc. Cl A (NASDAQ) Monitoring for tomorrow will not be easy, watching the $8 mark for a short, as well as possible buy basing of $6.50 - $6 area into testing the high $7's - $8
Sep 27, 2016 WL
ARRY - Array BioPharma Inc. (NASDAQ) Will be looking to short of $7 - $7.25, be careful possible multi-day runner risk management very important
Sep 23, 2016 WL
GPRO - GoPro Inc. (NASDAQ) watching for weakness into $15.50 - $15 area for starting a long position, looks like stocks wants higher above $16 area (quick short trade based of $16.05 if it fails to break)
Descending Triangle
What is Descending Triangle?
Descending Triangle is a continuation Pattern in a bear run, just like Ascending Triangle it is a pretty common pattern and visible to everyone. It also can be found as a reversal pattern at the top but it works best and much stronger pattern as a continuation of a downward trend. Let's look at below how it works and forms the pattern.
Descending Triangle is a continuation Pattern in a bear run, just like Ascending Triangle it is a pretty common pattern and visible to everyone. It also can be found as a reversal pattern at the top but it works best and much stronger pattern as a continuation of a downward trend. Let's look at below how it works and forms the pattern.
Sep 22, 2016 WL
NVAX - Novavax Inc. (NASDAQ) Base at $1.50, weakness at open and red to green move for an entry (possible swing play into at least 50$ of gap close)
Sep 21, 2016 WL
CYH - Community Health Systems Inc. (NYSE) failed inside bar breakout, kept it on watch as a dip buy of $10.50 into breaking higher
Ascending Triangle
What is an Ascending Triangle?
Ascending Triangle is a continuation Pattern of a bull run, its a common pattern and very easy to spot. This pattern can be a reversal pattern and you can spot them at the bottom of the price but it wont be as strong as when it's in a continuing uptrend. Lets look at this quick image below and see how it actually works.
Ascending Triangle is a continuation Pattern of a bull run, its a common pattern and very easy to spot. This pattern can be a reversal pattern and you can spot them at the bottom of the price but it wont be as strong as when it's in a continuing uptrend. Lets look at this quick image below and see how it actually works.
Sep 20, 2016 WL
CYH - Community Health Systems Inc. (NYSE) Inside bar day, looking for inside bar break possible entry around $11 - $11.50 depending how intraday lays out
Sep 19, 2016 WL
CYH - Community Health Systems Inc. (NYSE) Watching resistance at $13.50, anything below $14 - $13.50 is bearish, break above can be bullish swing towards $17 area. Will watch $11.50 for a dip buy and risk.
Sep 16, 2016 WL
SGYP - Synergy Pharmaceuticals Inc. (NASDAQ) Will look for a dip buy into $5.40 -$5.20 area, risking of $5 - $4.80 depending on an entry
Sep 15, 2016 WL
SGYP - Synergy Pharmaceuticals Inc. (NASDAQ) Nice up channeling trend, watching $5.40 breakout and stay above $5.50 to start looking into buying long. If it can't break and see weakness will likely short of $5.40 area
Sep 14, 2016 WL
FCX - Freeport-McMoRan Inc. (NYSE) Basing above $10 can look for any long with that at risk max of $9.75, possible a bear play of $11.50 area (look for range break of $11.50 - $10 mark)
Sep 13, 2016 WL
FCX - Freeport-McMoRan Inc. (NYSE) Looking at $11.75 - $12 range for now, nice Bullish Outside day, possible continuation tomorrow into $12's, would like to see it closer to $10 area for a long possible short basing of $12 (can chop as it did in May to July)
Sep 12, 2016 WL
BCEI - Bonanza Creek Energy Inc. (NYSE) Long above $1.42 basing risk of $1.20 - looking for inside bar breakout (will watch for volume intraday to confirm)
Sep 9, 2016 WL
CLVS Clovis Oncology Inc. (NASDAQ) possible runner to $35 area, thinking swing play, looking for a weak open for dips.
Support & Resistance
What is Support & Resistance?
Support can be found in many places on the chart it all depends how far back do you want to go. To me the most recent support matters the most, but to a lot of traders they can go as far back as 5 to 10 years. But for much quicker plays we can look at most recent actions. Now what is support? It's when price hits a point of resistance (demand) and retraces back to the point of supply which will be our support. Usually by support area you will see increase of buyers and decrease of seller, lets look at this GS - Goldman Sachs Group Inc. (NYSE) chart below.
Support can be found in many places on the chart it all depends how far back do you want to go. To me the most recent support matters the most, but to a lot of traders they can go as far back as 5 to 10 years. But for much quicker plays we can look at most recent actions. Now what is support? It's when price hits a point of resistance (demand) and retraces back to the point of supply which will be our support. Usually by support area you will see increase of buyers and decrease of seller, lets look at this GS - Goldman Sachs Group Inc. (NYSE) chart below.
Sep 8, 2016 WL
CRK - Comstock Resources Inc. (NYSE) Looking to short the $8.50 with tight stop, break above will look for bullish play into $10's
Sep 7, 2016 WL
AREX - Approach Resources Inc. (NASDAQ) Watching to play long above $3.95 - $4 risking of $3.60 below can be a short
Sep 6,2016 WL
SPU - SkyPeople Fruit Juice Inc. (NASDAQ) Watching break above $14 for long opportunities, will buy the bounce of $12 if it gets there
What is Vix?
Vix is the ticker for CBOE Volatility Index, what it does is measures volatility for S&P 500 Index options. Vix measures Options Flow for the current month and the next month, for example if Vix is currently at 20 mark then SPX has a 68% chance to move Higher or Lower by 20%. A lot of times Vix is used as Fear and Greed index but no many realize that Vix tells us how the options market is flowing for the month.
Sep 2, 2016 WL
AUY - Yamana Gold Inc. (NYSE) Bullish outside bar, need a break above $4.60 - $4.80, nice support at $4, fail at low $4's can take it to $3 - $3.20 (watching gold)
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