Long-time reader Michael, asked if I’d take a look at the Twitter chart this weekend. A number of stocks in the social media sector have bounced off their May lows and followed up with higher lows in June and July. The premier stocks in the space, like Facebook (FB), Linkedin (LNKD) and Twitter (TWTR) surged… Read More »
Richard asked if I’d take a look at the Chemed (CHE) chart. Here’s an interesting company with an interesting technical profile. Chemed (CHE) operates in two segments, hospice services and drain cleaning. They provide palliative care through a network of physicians, nurses, and health care aides, and they own the Roto-Rooter company. The stock price… Read More »
Mike requested I take a look at the Google (GOOGL) chart: It’s hard to believe but next month Google will be celebrating the ten year anniversary of it becoming a publically traded company. The weekly chart shows the stock breaking above the resistance line of a rising triangle in August 2012, which, if used as… Read More »
Buck asked if I’d take a look at the SPDR Gold Shares Trust (GLD) and the iShares Silver Trust (SLV) charts. The weekly chart of the GLD shows the price action in late 2011 and through 2012 forming a large triangle pattern. Support was broken in April 2013 and the subsequent decline met the target… Read More »
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A reader requested I take a look at the chart of Molycorp (MCP) and it isn’t pretty. There is a 38% short interest in shares of the stock, and some substantial fundamental reasons for that, and the collapse in price since its 2011 high. The weekly chart clearly illustrates the carnage. On the daily chart… Read More »
Juan asked about the Twitter (TWTR) and Hovnanian Enterprises (HOV) charts: Twitter is still untouchable. It was down over 3% on Friday and there is nothing constructive in the way of price action taking place on the chart. The centerline line of the Raff regression channel is the “best-fit” straight line of price since the… Read More »
Peter asked if I’d take a look at the Southwestern Energy (SWN) chart, so here goes. The stock traded in a horizontal channel pattern for most of 2013, then broke above the channel resistance line earlier this year. The breakout level was tested several times before it moved to a high in April, just as… Read More »