Burlington Stores Leading Another Retail Sector Breakout

By | August 9, 2018

Shares of Burlington Stores (BURL) are breaking out of a cup and handle continuation pattern and making new highs. Cup and handle rim line resistance is located at $158 level on the Burlington chart, and the stock is currently trading in the $160 area. The relative strength index reading reflects renewed positive price momentum and… Read More »

Caution! – Bearish Patterns On The Major Market Index Charts

By | July 28, 2018

On Thursday it looked like a triple top had formed on the Russell 2000 chart. Three consecutive bearish engulfing candles formed at channel resistance and it appeared the consolidation pattern was going to resolve to the downside. The analysis was posted here. As it turned out the small-caps were hit hard on Friday and the… Read More »

Three Bearish Engulfing Candles On The Russell 2000 Chart Suggest A Possible Triple Top

By | July 25, 2018

A pattern of bearish engulfing candles has formed on the iShares Russell 2000 ETF (IWM) daily chart, which could be an indication that the small-cap sector has made a intermediate term top. In June a bearish engulfing candle formed just below the $170 level. The pattern was repeated again in July and once more just… Read More »

Herbalife – Shares Poised For A Volatile Move

By | July 19, 2018

Herbalife Nutrition’s (HLF) stock price dropped sharply in late May after news that Carl Ichan had sold 10.5 million of his shares in the company. Since the announcement, the stock has traded back up before consolidating between contracting Bollinger bands. This price compression has reached an extreme level, and a narrow horizontal channel has formed… Read More »