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Breakup

GME break up of downtrend Stock came from $16 to almost $58 in year and a half but was sold off on bad earnings results almost 2/3 of it is initial move up. In such a strong tape I think it looks ready for move higher, as it found support at $33 and have built higher highs with consolidation support at $35-$36. It broke downtrend line to the upside with strong, green candle and building nice and tight base above key moving averages wich gives us calculated trade if it triggers above $40.60. If you are active trader you can use tight stop below base support $39.44. I prefer to give it more room and will put my stop below $38 - break out point and 21/50 EMAs.
NYSE:GMELong
by andrew.berg
EURUSD heading to the next resistancePair formed its bottom around 1.35200 and broke up resistance at 1.35800. Above that traders accepted new prices and after break up of tight consolidation it accelerated to upside and topped at 1.36400. After such a big nove in short time it took some time to absorb this price action and it have built series of higher highs and lower lows - indecision pattern (wedge) that was resolved to upside. If you baught near bottom of this wedge then you can add here. I want to see how buyers will hold 1.36123 previous high which now should act like support. I will measure strength with 8/21 EMAs. My intermidiateTARGET is 1.36328, the resistance zone around 1.36400. I dont want it to see below 1.36100 (1/2 of recent up move) if buyers want to keep control.
Long
by andrew.berg
Gold acceleration on tension in Iraq and Fed decisionGold seems to be a haven asset for investors in terms of tensed siituations all around the world. Iraq is a key oil market player and there also is a difficult situation. Rebel activity in the North of the country has forced the U.S. to send to Iraq 300 military advisers. From the point of view of technical analysis there was a lot of tips and trading signals. After the 2 months support consolidation of $1280 break up, Gold fell down and found its low of $1240. We had lots of levels to push off ($1240, $1250, $1260, $1270), and also the break ups of resistance. There also were some trading opportunities when the yellow metal reached its potential resistance rate of $1280-$1285 and then it fell to $1258. Buyers have restored a support rate of $1264 and also a 8/21 EMA. Struck $1272 and resistance in control of the movement of the moving averages reached the previous high penetration which attracted a lot of buyers. The price fastened and set a high of $1321 in an inflamed move. I’ll use Fibonacci levels to measure the buyers’ strength. The higher they hold up the price, the more chancese for an upward movement resumption there would be. The first potential support is around 38% 1306.59, and $1302 after that. Check my previous ideas on Gold in the link below
FX:XAUUSDLong
by andrew.berg
Solar sector catches some upside momentumSince the beginning of March this solar ETF entered into bear channel and was laggard sector vs broad market as investors were buying major cap, high dividend stocks. Nevertheless, it is just 38% pullback from big move from $15.00. Now, it builts higher highs and higher lows - strength of buyers. Yesterday, it closed near highs and broke previous dwing high at $42. So, it could be our point of potential support, then we have 8/21 EMA $40.60-$41.20 respectively. Previous low at $39.09. Target #1 $44.30ish. Some stocks from this sector that are showing strength: $FLSR, $SCTY, $SPWR, $TSL.
AMEX:TANLong
by andrew.berg
Gold dip accumulation After 2-months range was resolved to downside, Gold was sold off aggressively from $1,300 to $1,240 where it found support. With wide, ignited, green candle 3-days consolidations resistance at $1,248 was broken and now gold is showing some commitment and building nice upper-level base in front of local resistance at $1,257.5. Break above could attract more dip buyers with next target at $1,268 where 21 EMA lies on daily chart. Also, we have intermidiate support at $1,252 whick was pierced for a while on noise (news) but buyers regained control really quickly.
FX:XAUUSDLong
by andrew.berg
MSFT breakout of wedgeNice, strong breakout in Microsoft today. Intraday entry was at $40.50. You can trim&trail some in front of resistance if you manage this on daily basis and for investors nothing to worry about. New pivot resistance at $40.97, above that could trigger another entry/add. Next resistance at $41.30 then we have highs at $41.60. --------------------------------------------------------------------------------------------------------- Acting well after it bounced off of support at $39. (Check my idea in the link below)
NASDAQ:MSFTLong
by andrew.berg
DHI cup&handle The stock was leading during the first half of 2013 but then caught some downside. Stock found bottom around $18 then regained its 200 EMA above $20 with nice follow through to $25. Now it is flagging (handle) above 200EMA and on Friday broke up and looks ready to continue. Stock is pretty slow on daily basis, so it is in my long term buy watchlist with entry here at $23.25 and reasonable stop below $21. i will add if it will go through $25 resistance and expect to see it is testing highs in the mid $27 with some follow through. So, I will put my target at $30
NYSE:DHILong
by andrew.berg
SSYS break up of descending channelThis 3D printing stock was very hot during 2012 and 2013 but lost its luster in 2014 as investors are looking for major cap companies who pay high dividends. Even the leader 3D Systems pulled back 50% from its highs which tells us that price is very unstable and speculative in this revolutional sector. Stock broke up descending channel at $90-$92 with ignited bull candle and regained some moving averages. I like idea playing cautch up here. Stop for active swing traders could be below $92. Entry above previous high at $95.85 with target at $105 where 200EMA sits.
NASDAQ:SSYSLong
by andrew.berg
Gold bounced of wedge support and showing some constructionGold bounced from lows where we have strong wedge support, built nice bull flag and resolved to upside. I see some buying signals here. My plan is to trade Long close to support lines at $1292.62 then $1290.65. Resistance at $1296.37, if buyers will manage to pull it through than we can expect some follow through to next resistance at $1302-05 area. Good numbers from China Manufacturing PMI could boost demand for commodities.
FX:XAUUSDLong
by andrew.berg
GLW break up of wedge, strong up trend The S&P 500 just broke up consolidation that was theme of year 2014. Yeasterday, sectors that were recent laggards (high-beta, small-cap) showed relative strength. Overall you have to take stock specifique approach and be willing to buy dips in strong stocks if you want to be successful in this tape. This solar company attract my attention. It was wedging near highs and stays in strong uptrend since gap up on 23 of October 2013. Yeasterday it broke up wedge with close on dead highs and triggered LONG ENTRY. STOP below short term moving averages and wedge support @ $20.50. Pivot high @ $21.74 is first TARGET. If you want to buy pullback - $20.90-$21.10 could be our buyable area.
NYSE:GLWLong
by andrew.berg
EURUSD It is Ok to change your MindOn Daily chart it is is in uptrend since July 2013. After big, ignited, red candle on 20th of March it entered into range-bound market and bounced up well off major trend line. Till now it built series of lower high and higher lows (wedge) and gave opportunities to trade both sides (selling from wedge highs and buying support). On Friday when US job report was released it accelerated to downside with quick reversal. I mentioned in comments: "Reagined some levels of support and building nice upper-level base in front of resistance. We can see break up of those highs and expect some upside follow through then. Entry point: 1.38800 Stop: 1.38680 then 1.38634" Now, i will measure this move with fibonacci levels (the higher it will hold the higher is probability that it will continue higher) and moving averages. It is impoprtant to make adjustments and to know key levels. Trade price action not opinion.
by andrew.berg
5
AAPL don't chase price, stay tactical It is difficult to buy here after $40 move from earning's gap but on intraday basis there we can still trade tactically keeping long in our mind. Actually, it is one of the best stocks in this choppy, range-bound market because after earnings was released it had nice, powerfull 2 days continuation move then some rest, inside days which is healthy after such a big move with Red Dog Reversal (so we can put some tactical trades on the short side) and yeasterday we saw breakout and some trend plays. Today we will see if it can continue through previous high of the day for another potential move higher. Support levels at $598.40 then $596. Overall market closed well on highs but stays choppy with $SPY in front of resistance and $QQQs showed recent relative weakness.
NASDAQ:AAPL
by andrew.berg
1
GOLD looks better for active traders after broke upGold had a nice action, acted well according to our plan from friday's morning note: "Some buying interest resumes in Gold . It found some support at $1281.50ish, broke up intermidiate resistance and we can see $1290 soon. A break bigger down trend line could set it back in motion and attract more active buyers." Now we have close above short term moving averages and down trend line. I am a buyer above 1304.5, next support at 1300. My target zone that may be reached this week is 1322 (200 Moving Average) and 1330 (previous swing high from where it bounced).
FX:XAUUSDLong
by andrew.berg