LNKD (Linked In) Target for 20% gainLinked in created and inverted ascending scallop -- confirmed. (thepatternsite.com). A bonus is the U-shaped volume with the pattern.
This alone sets the target price at 279.25.
In addition, a cup and handle is in the process of forming, which if successful, sets an intermediate target price at 263.
On Balance Volume (OBV) also remains in a very positive upward trend.
Ascending
FB forming ascending triangle and it's all most readyDaily chart forming ascending triangle (BULLISH triangle) and it's all most ready for big movement. Need few more days for confirmation. 31 MA is the main support. Most indicators are bullish.
MRK Tight Consolidation Break - Long/Short (SAR)As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up from Nov '13, leading me to have a bias for this play to the upside.
The goal here is to watch it intraday and get long one tick above the most recent bar high ($59.37). Alternatively, we will get short intraday at one tick below the most recent bar low ($58.89) and holding it short expecting a bounce off of the resistance.
The idea is to SAR (Stop & Reverse) the position on a close one tick above/below the same high/low, depending on how we entered.
This means we have $0.77 cents of risk either direction. With a target on the downside around $56.30 and to the upside $64.75 by conservative estimates, that gives us a favorable risk reward. All said and done, the thinking here is that with this tight consolidation at a key level, a big decision will be made here in the coming days, that will make a big play for us. What happens after these candles could be the deciding factor, and we may even see a candle that reinforces one direction over the other to help us in our decision.
TSL back to 15.50There was a recent break of a triangle pattern to the upside. After a kiss of the trend line, TSL should look to retest 15.50 given an equal distance move from the base of this triangle pattern.
Bitcoin Price - Pop or Drop?This chart is a minor re-draw of the chart originally published by chrisdunntv. Changed the following:
1) Moved blue lines to touch candle wick lows and highs. You still have two touches on the ascending blue support line and the descending blue resistance line.
I believe this better reflects the recent weakness in the bitcoin price as highlighted in the yellow oval. It also allows a little bit of additional time for price to resolve as it has extended out the blue support and resistance lines a few additional days. I think those additional days will be needed to really get a good feeling for which way the price is heading. The way this was drawn showed price falling through the ascending support. I think this is what is going to happen ultimately, but believe by adding a little extra time for this to resolve that the move will be clearer should price drop through and head toward $560.
You can see that around the $560 level the Bitcoin price found support and did not fall all the way to the ascending blue support line.
However, recently, the price has consistently failed to reach the upper blue resistance line.
It looks to me like the price will fall through the ascending blue support line. We will then get a chance to see if near the $560 level will provide support or not.
#CADCHF loosing steam!CADCHF is still trading in channel. The 833 level seems to be a strong res. PA is currently trading at 835 levels and still no strength to make new highs. With nice RSI divergence a ret. to 8284 or 824 should happen soon.
#GBPCHF short - test of #breakoutGBPCHF is trading in an ascending channel, bullish trend. PA reached the top boundary and 127.2 ext of previous high on very strong impulse leg from the bottom channel boundary. Although the 113 ext at 52 provides support last week the breach is likely to test 5122. The support can be observed on the RSI too (red TL).
#EURUSD will move towards 36 or 39?After the sell-off from almost 40, EU ended close to 37 handle, failing to create new low. Same happened beginning April after the rally to 396, EU failed to close below 37. The PA is in the lower half (below median channel line) of the channel and possible completion of bullish gartley.
Conclusion: The 37 handle has been a strong S/R level in 2014. Now, close to Jun, with ECB putting efforts to lower EU the final breach of 37 might happen. However, the rally up to 39 is not out of the question.
