The weekly charts of the S&P 500 and the DJIA show large dark or down candles formed three weeks ago followed by two futile attempts to recover positive momentum and their 10 week (50 day)moving averages. These failed recoveries formed high wick or long upper shadow candles, which reflect an inability to maintain upward momentum… Read More »
(Remember my analysis reflects my personal opinion of the technical condition of a particular stock chart, and is not to be considered as a recommendation to buy or sell a stock.) HCP (HCP) HCP (HCP) is a health care REIT with an 8.5% dividend yield. The stock price is down 35% over the last year.… Read More »
A reader asked if I would take a look at the Netflix chart: The weekly chart shows the stock moving in a wide horizontal channel for about a year before breaking resistance in April, and rallying to just above the pattern price target projection. It’s oversold as reflected in the reading on the relative strength… Read More »
Last week a reader asked if I would take a look at the Apple chart. I spotted a small eveningstar pattern on the daily chart which suggested a pullback and that proved to play out this week. The trend on the weekly chart, however, is still intact and a reversal would require a break of… Read More »
A reader requested a look at the Apple (AAPL) chart. The weekly chart is a thing of beauty, highlighting a series of higher lows and higher highs. In between uptrending periods are clearly defined horizontal channel consolidations. The stock price is reverting around its 50 day moving average, and above its 200 day average and… Read More »
Michael Kors (KORS) shares have retraced half of their historical range, tracking below their 50 day moving average since about this time last year. They are currently at the 50% Fibonacci retracement level of their IPO price in 2012 and their 2014 all-time high. The stock is in a downtrend, that’s pretty clear, but while… Read More »
A reader asked if I would take a look at the Walmart chart. Shares of Wal-Mart (WMT) traded in a horizontal channel for most of 2014 before breaking above channel resistance in November and rallying into year end. They reversed course quickly, however this year, and are back retesting the resistance-turned-support level. On the daily… Read More »
Mike asked me to take a look at the Buffalo Wild Wings (BWLD) chart. The last time he requested my technical take was on El Pollo Loco (LOLO), so he obviously enjoys his chicken. Shares of BWLD fell sharply last month after an earnings report and an increase in chicken prices. The drop was telegraphed… Read More »
A reader asked if I would take a look at the Chipotle chart: A large engulfing candle formed on the weekly chart, encompassing the trading range of the previous two months. The 10 week (50 day) and 40 week (200 day) moving averages, along with a long term uptrend line have been penetrated, and the… Read More »
Mike is a regular reader and he asked if I’d take a look at the El Pollo Loco chart. Here goes: El Polo Loco Holding (LOCO) has been trading for less than a year and on the weekly timeframe many of the moving averages and technical indicators have not had time to become useful tools.… Read More »