Here are four charts of interest for this week. They all have positive upside momentum and money flow, along with well-defined levels of resistance. Breakouts from their respective patterns project significantly higher upside price targets. A cup and handle on the Accenture (ACN) chart with large gap resistance just overhead. Air Products and Chemicals (APD)… Read More »
Here are two stocks that we are looking to play from the long side today. The first is Gardner Denver Holdings (GDI) which makes scientific and technical instruments. Shares have been consolidating in an inverse head and shoulders continuation pattern for the last three months. Neckline resistance is situated in the $33.20 area and the… Read More »
Shares of Best Buy (BBY), Forum Energy Technologies (FET), and Papa Johns (PZZA) have been consolidating in tight patterns recently, and are retesting pattern resistance levels. Price momentum and money flow indications have been improving on both the daily and weekly time frames. Short interest in these stocks is high and breakouts could initiate short-covering… Read More »
At this year’s Ira Sohn Conference, Doubleline CEO, Jeffrey Gundlach announced that the next big move for the markets will be in gold, stating, “It’s getting almost exciting…something big is happening.” Specifically, he cited the five year inverse head and shoulders base that has been forming on the chart, noting “Gold is maintaining an upward… Read More »
Jim Chanos on why he’s short Dunkin’ Brands from CNBC. The famed short-seller Jim Chanos told CNBC this morning, that he has been short Dunkin’ Brands (DNKN) and a number of other restaurant brands “for about a year.” On that news, Dunkin’ shares saw an initial 5% drop in pre-market trading, then managed to move… Read More »
Channel patterns on the daily charts of CyberArk (CYBR) and Dunkin’ Brands (DNKN). Mastercard (MA) – a good risk/reward entry point. L3 Technologies (LLL) breaking out of symmetrical triangle pattern.
A series of narrow opening and closing range candles formed in January on the Apple chart. These candles are usually accompanied by long upper or lower shadows or both, and they reflect indecision on the part of market participants. A nearly 13% decline followed the bearish candle cluster. A similar cluster of doji-like candles has… Read More »
This is a special week for golf lovers. The Masters, the first of the four major golf tournaments of the year, begins tomorrow at the Augusta National Golf Club. There is a good chance this year’s winner of the coveted “green jacket”, may use a product by Acushnet Holdings (GOLF). The company manufactures and distributes… Read More »