A reader asked for my technical take on biotechnology company, Receptos (RCPT): Two weeks ago, I wrote on RealMoneyPro, the subscription side of the TheStreet.com where I am a regular contributor, that a close in lower candle range below the horizontal support line in the $140.00 area was a speculative short entry point. I noted… Read More »
A reader requested I take a look at the Google (GOOGL) charts: Google rallied off its 2012 low making a series of higher highs and higher lows for the next two years. The pullback to the 200 day moving average in April 2014 looked like a normal reversion, but the inability of the stock to… Read More »
Richard asked: “Since the 50% Fibonacci retracement level of the 2014 range on the Google chart was broken on Friday, what are the current levels of support and resistance?” Richard, it certainly would have been better if the 50% level had held and the stock was able to recover its 200 day moving average, but… Read More »
The Dow Chemical (DOW) daily chart shows the stock filling a gap in the Friday session and then reversing and closing near the low of the day, forming a bearish gravestone doji candle. Last month the 50 day moving average made a “death” cross below the 200 day average. The stock needs to close in… Read More »
A reader requested a review of the GoPro (GPRO) and the Alibaba (BABA) charts: I looked at the GoPro (GPRO) chart back on 11/19 and highlighted the inverse head and shoulders continuation pattern. A successful breakout to the upside had real bullish potential, but there was never a close above the $85.00 neckline, instead the… Read More »
A reader requested an analysis of the the AT&T (T) chart. The weekly chart shows the stock price consolidating in a horizontal channel since May of this year, with support in the $33.25 area and resistance near $35.25. Shares broke and closed above the two year resistance level this week, making an all-time high. The… Read More »
A reader requested an analysis of the Waddell and Reed Financial (WDR) charts. The first weekly chart shows the recent October low as a 50% retracement of the long range 2008 low and the 2014 high. This Fibonacci series is significant because, as the second weekly chart shows, the 62% retracement level is currently intersecting… Read More »
Linda requested I take a look at the Twitter chart. On the weekly timeframe the stock can be seen breaking above its 10 week (50 day) moving average in June this year, and then moving back up to a 50% Fibonacci retracement of its range since coming public. The current 10 week average is making… Read More »
I want to take a look at two charts that reader and regular commenter, Mike, brought to my attention. The first is the chart of SanDisk (SNDK), and he suggests a cup and handle is forming below the July downside gap. In addition to that, there are a number of other interesting things happening on… Read More »
Mike asked about the KKR and Company (KKR) chart: Shares of the private equity alternative asset managers moved in a measured series of higher highs and higher lows after testing their 200 day moving average in May, creating a well-defined uptrend line. That support was broken in July and the stock retraced 50% of the… Read More »