XOM – Running Out of Gas? (Sorry)

By | May 29, 2014

Shares of Exxon Mobil (XOM) were down fractionally yesterday but formed a very weak gravestone-like doji candle on the daily chart. This candle has a narrow opening and closing range near the bottom of its overall range, and suggests attempts to move higher have been rejected. The candle broke the support line of a three… Read More »

Fluor High Wick Zone

By | May 28, 2014

David Tepper’s Appaloosa Management sold its position in Fluor Corporation (FLR) last quarter. It had accounted for 1.23% of Appaloosa’s total 4Q portfolio. The stock has been making a series of lower highs since the beginning of the year above a base in the $73.00 to $74.00 range. These highs have been marked by high… Read More »

FXE Breaks Long Term Support

By | May 28, 2014

The Currency Shares Euro Trust (FXE) dropped below its 200 day moving average last week and an uptrend line on the weekly chart in place for about a year. Money flow turned negative in the beginning of April and this month the RSI crossed below its centerline. Average true range and the Bollinger bandwidth indicator,… Read More »

Waning Wal-Mart Weekly Support

By | May 28, 2014

The weekly chart of Wal-Mart (WMT) shows the stock tracking above an uptrend line for the last two years. There are, however, signs of waning momentum. The trajectory of the stock price is flattening as the range between highs and the support line narrows. Chaikin money flow turned negative in March, and the MacD is… Read More »

Salesforce.com (CRM) at Key Resistance Level

By | May 28, 2014

Shares of Salesforce.com (CRM) are up against an area of reinforced resistance on the daily chart. After bouncing off the 62% retracement level of its 2013 low and 2014 high in April, the stock made a series of higher lows just below the 200 day moving average, forming a small rising channel. It’s testing channel… Read More »