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50ma

APD potential measured move upAPD has been in an uptrend all year but the deep pullbacks have made it too unpredictable to long-term trade so far. On the daily chart an inverted head and shoulders chart pattern offered an opportunity to trade a measured move up. Since the break of the pivot high (which also confirmed the H&S pattern) there have been two gaps up on slightly higher volume. This had the potential set-up for an almost $20 move up but, if you missed the first gap, the risk:reward is rapidly declining. It offers a very good buy for a short-term trade as the momentum is up (with the gap, volume and bullish bar all in the direction of the trend). But for longer-term traders you may want to now wait for a break above the $150 half figure before looking to trade this one.
NYSE:APDLong
by iAnneTrader
NKE getting close to $100NKE has cropped up quite frequently on our breakout lists lately. It doesn't have a very linear history (pullbacks tend to be too deep for most risk management structures). But since breaking above the $80 mark it has offered several opportunities to buy. The October pullback was not too deep, remaining comfortably above the daily 50ma. Once price broke $90 NKE became a better proposition and there were several opportunities to long the stock. Now, however, price is getting a little close to the $100 figure. This can be a psychological resistance so, unless you feel you can get risk-free on your trade before then, this is a future buy with a current bias to stand aside.
NYSE:NKELong
by iAnneTrader
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ABBV too early to tradeMany traders like to trade IPOs and new stocks as the volatility is considered to offer good opportunity. But as a technical trader I find it difficult to trade a stock for which there is less than 5 years data. There is a limited history of how the stock reacts to events - which makes them difficult to analyse. In the case of ABBV a pattern is now beginning to emerge. The trend is clearly up with deep and frequent pullbacks. For a longer-term trader positions would spend more time in negative equity than positive so we would by-pass this one. However, this stock may well settle down into a more simple pattern to trade (i.e. a more linear trend) at a later date. For now, however, it is not possible for me to make a good, informed decision. Not every breakout is an opportunity.
NYSE:ABBV
by iAnneTrader
CVA bullish flag in an uptrendCVA has just printed a bullish flag in an uptrend (on Thursday's bar). This gives a good indication that price will continue to rise (no chart pattern has 100% accuracy). However, there is not so much room for this stock to uptrend before hitting resistance at around $30 (the 2008 high was $30.37). Some breakout traders prefer to only buy those stocks which are printing new all-time highs - and there are plenty around to choose from. But there is a potential for several dollars in this one, so should not be dismissed out of hand (particularly by shorter-term traders). The pullbacks on this stock (since breaking above the 200dma) have been a little deep on occasion but nothing to cause concern. This suggests that a good trend is in play and may be worth further consideration on the next set-up.
CLong
by iAnneTrader
LM on a bull wave upLM reached a high of $140 in 2006 before plummeting to almost $10. Since then we have seen price bottom out (forming a cup and handle on the weekly chart) and begin a bullish wave up. During August and October a double bottom formation occurred - confirmed in November with a break of the neckline. The weekly double bottom presented itself on the daily chart as a small consolidation - the 50ma was flat and price hovered around the $50 half-figure. This consolidation lasted over four months, but was not too deep so the breakout at the beginning of November was an early chance to buy into this stock. The more cautious would want to wait for a small pullback. This occurred with the bullish flag confirmed yesterday (13th November). There is no resistance ahead for some time ahead ($80 is the next major pivot point). Overall, a strong buy candidate for the watchlist.
LLong
by iAnneTrader
JLL bullish after breaking 2007 highNow JLL has broken and retested the 2007 high ($124.99) there is room for price to move further to the upside. There was a cluster of support at around $125 but it dipped just below this during the October pullback (which affected most stocks). It found support at the 50ma on the weekly chart but popped below the 200ma on the daily chart. Since then price has cleared the more recent August high and yesterday a bullish flag was confirmed. In the last year this stock has trended well - a few of the pullbacks have been a little on the deep side but, other than October's, they would not have presented an issue to the longer-term trend trader.
NYSE:JLLLong
by iAnneTrader
UNP breaks out after deep pullbackUNP has been a profitable trending stock but, as with many other positions, the October pullback was too deep to justify remaining in the trade. On the weekly chart the trend has remained pretty much intact since January 2012, even with the recent pullback. Price did not breach the 50ma, and only spiked below the 100 figure. But on the daily chart the pullbacks have become progressively deeper. However it is conceivable that UNP will return to its former linear trend. Yesterday's breakout bar confirmed a small doji-based flag on slightly higher volume. If it weren't for NFP today a buy opportunity could've been a possibility. But for now I will wait for Monday (to avoid possible near term volatility due to NFP) and reassess then.
NYSE:UNPLong
by iAnneTrader
SRE continues uptrendSRE has been a good long opportunity since breaking above the $72 zone. On the weekly chart the 50ma has acted as support throughout the trend. While the pullbacks on the weekly have all been within the normal parameters they have been a little more cumbersome to trade on the daily chart. The last two deep pullbacks both dropped to test the 200ma and figure 100 before bouncing back up. Now that area is cleared and, after earnings were released on 4th November, the bullish move continues. A buy opportunity for SRE if you are happy to accept possible pullbacks.
NYSE:SRELong
by iAnneTrader