It took 9 months for the stock price of Goldman Sachs (GS) to advance 34% in 2013 and it took 14 months to climb 35% beginning in April 2014. In contrast, in the last 5 weeks the stock has rocketed 35% with little signs of exhaustion.
Apple (AAPL) shares are retesting rim line resistance of a cup and handle pattern on their daily chart. The integrity of this line could determine the intermediate term future of the stock price. Here’s my take on the chart published on TheStreet tis morning.
Strong performances in Monday’s session and positive price and money flow indications have these four stocks positioned to move higher. Here’s my analysis of the Cavium Networks (CAVM), AmTrust Financial services (AFSI), DCT Industrial Trust (DCT), and LKQ Corporation charts published on TheStreet this morning.
Many thanks to Jim Cramer and his Mad Money team for the opportunity to be featured on the “Off the Charts” segment of the show.
(Here’s a recap of the segment published on TheStreet.)
The S&P 500 index broke through 2190 resistance and then returned to successfully retest that level. Now it looks like after that brief pause it is ready to resume the uptrend that began early last month. The relative strength index remains above its centerline and the MacD never completed what looked like a potential bearish crossover. This market continues to be bought as evidenced by volume and the reading on the Chaikin money flow index.
Shares of these three automotive parts manufacturers have been consolidating in well-defined technical patterns and look ready to breakout. Here’s my analysis of their charts published on TheStreet this morning.
I highlighted a trading set-up on the Pandora (P) chart last week and recommended it as a buy at its then current level. The stock broke out of the cup and handle formation it had been basing in on its daily chart and up to a long term downtrend line on its weekly chart. The charts can’t predict take over rumors but consolidation patterns and defined levels of support and resistance develop sometimes, for reasons that do not show up in the most diligent fundamental analysis.
The base metals are reliable indicators of improving consumer sentiment and economic growth and the recent price action in these two stocks could be good news for the economy and investors. Here’s my take on their charts published on TheStreet this morning.