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Is FB About To Break Out?Starting mid 2014, FB entered a price range. The bottom was about $72 and the top was about $80. Now that some time has gone by, it is easy to look back and see what was happening. The top of the range has been breached a few times - back in October, in December, and February. The December breach was the strongest as FB actually closed above $81.00. Today, it looks like FB "might" again close above $81. If it actually does, then tomorrow it would be nice to see another close above $81. If FB stays above $80.75 ish for a few days it is probably safe to say FB is going higher. As long as price stays above the green UT line you can stay long this stock. If you want to add to your position, do it when the price is close to the green UT line. If price ever closes below the green UT line you should take notice and consider pairing down your position. Protect your profits... March 19 Idea Update I know it's early in the day but this idea from 13 days ago looks even more accurate today. The price is through the $80.75 ish level and seems strong at the moment. For today, a close above the horizontal grey line will be constructive for longs. Tomorrow, just as important, a continuation of upward momentum is needed. GLTA!
NASDAQ:META
by TheTrendLineInvestor
2
GPC double gap upGPC has spent most of 2014 in consolidation. The high of February proved to offer very strong resistance and price tested it a couple of times before finally breaking through. Once resistance had turned into support the uptrend has continued with some momentum. On the daily chart there was a bit of stickiness around the $100 figure but now there is no specific resistance ahead. Last week Thursday's bar gapped up with higher volume and a bullish bar. This looked like a good near-term buy opportunity but the following day price gapped up again on higher volume - but this time with a bearish bar. This could still present a good near-term buy but with the Christmas break fast approaching I will stand aside on this one - for now. I may look at it again next year for a longer-term trade.
NYSE:GPCLong
by iAnneTrader
CTAS gaps up but approaching $80CTAS has been in good uptrend for some time but had a fair bit of resistance to tackle before being considered for a long-term buy candidate. At the end of 2013 price finally broke through the 2002 pivot high ($56.62) and the weekly chart shows the subsequent retest (as a double bottom) converting previous resistance into support. Since the confirmation of this chart pattern the bullish trend momentum has continued. On the daily chart the trend is not the most linear but is adequate. Friday's gap up was an extremely bullish bar with higher volume (on the earnings announcement). If it weren't for the $80 round number (and the Christmas break) up ahead I would consider this a near-term long opportunity.
NASDAQ:CTASLong
by iAnneTrader