Category Archives: Daily Charts

Apple — Good Risk/Reward

Shares of Apple (AAPL) have been losing their post-earnings positive momentum this week, and are fading back below the top end of their rising channel uptrend line. There is little in the way of visible support within the channel parameters at this point, until the 50 day moving average near the lower end of the… Read More »

Red Hat Positioned For Volatile Upside

Red Hat (RHT) has broken above resistance in the $122 area and is making new highs. It resembles prior consolidation breakouts that followed similar periods of very narrow overall range. These compressed periods took the Bollinger bandwidth indicator to a very low reading. Periods of low volatility are often followed by high volatility. Chaikin money… Read More »

Tractor Supply Higher in Down Market

Tractor Supply (TSCO) shares spent the summer forming a bullish inverse head and shoulders reversal pattern on the daily chart. The $58.00 neckline breakout in August was rebuffed by the declining 200 day moving, and the stock moved back down to retest neckline resistance-turned-support. The test was successful and now it looks like a base… Read More »