ADEP Potential Trend Change - Reverse Head and SholderADEP, or Adept Technology, is a robotics company focusing on industrial automation, as well as software and vision guidance. Recently caught in a downtrend, ADEP seems to be making a reverse head and shoulder pattern, which could be confirmed within the next week. On the 15 min chart, there is also a cup and handle forming which if confirmed, could trigger a breakout.
This puts the:
--Buy point at 9.02 (on HIGH volume)
--Stop at 7.71
--Target at 11.17 (Using the formula (neckline above the lowest point - lowest point)*.7 + breakout point) and then rounding to the nearest resistance line.
However, beware; if a breakout does not occur and the recent slight uptrend is broken, the stock could hit 7.72, and later 6.66
Change
ZNGA changing direction Last 2 days have been a great deal for ZNGA fans - summarized status
1) Volume is picking up on 2 days in a row with great price movements
2) MACD has room to grow and is in an uptrend.
3) Acc-Dist has changed direction from a lont-term low favouring accumulation
4) Recent low is higher than the previous low
BUT
1) With this, ZNGA has some psychologic resistance levels @ 3.25 and @3.5
2) CCI and RSI reached their tops and favor some corrective changes before further upside.
I expect some price correction with further upside within the year. Previous ER did gain valuation for the stock and with new management and decisions it may very well return ZNGA some stock price.
Gold - time to make a decision...againThe picture seems to be at the same place it was so many times before. So many indications of the price going down, and not so many up....but may be it is different this time. Check the chart and Bet on your own will
- Long period trend is being touched and previously price went lower
- @ top of Bollinger bands
- Price right now in the middle range of the sqezing triangle.
- RSI CCI and RMI all are on top levels
But:
- High volume on an up turn recently suggest early birds/betters are already going heads in.
- MA cross indicators both signaled a buy the runup day recently
- Issues in the middle east (Iraq situation) coupled with Russia x Ukraine situation will fuel the up turn.
- Stocks and markets tend to surprises and do the opposite of what is expected
Gold has been going down for way too long, so its position gives higher chances of a turn. If next 1-2 sessions close in green, i would assume a heavy volume, and a raise in not only in gold, but in all resources.
PS - slightly more speculation. Markets are at all time highs - if they turn, gold goes up. Its been already 6-7 years of up trend, so its more slippery for markets, and quite a discount for the resources.
