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Resistancebecomesupport

MCHP ready to move higher?* Exceptional earnings * Very strong up trend * High 3-month relative strength in the Tech sector * Broke out of an 11 month range on November 4th * Since the breakout it has been consolidating above the broken level making it a new support * Maximum probable ROI would be 25.60% if the trade goes in our favor Trade Idea: * Now's a great time to enter as the price is really close to the broken level and the volume shows institutional interest after 2 weeks of tight consolidation. * If you're looking for a slight discount you can look to buy near the $82.40 area as that has been serving as support for the past ~13 days * Consider taking partial profits at $92.40 Caution: * A daily close below $82.41 could put this idea in trouble. * Consider exiting the trade early if the price make 4 consecutive lower lows on a daily basis
NASDAQ:MCHPLong
by HaseebKhan_90
VLY ready to make new highs?* Good earnings * Steady up trend * High 3-month relative strength in the Financial sector * Breaking out of a ~9 month consolidation with higher than average volume * Has been testing broken resistance as support for the past 5 days * Maximum probable ROI is 22.38% if the trade goes in our favor Trade Idea: * Now's a great time to enter as the price is really close to the broken level. * $14.44 should continue to serve as support moving forward. * Lock in some profits at first target and let the rest run to the final target. Caution: * Since we have a tight stop, a daily close below $14.44 would negate the idea. * Alternatively, you can wait to see if two or three consecutive days close below $14.44 before exiting the trade
NASDAQ:VLYLong
by HaseebKhan_90
2
FRC ready to move higher!* Excellent earnings * Strong up trend * High 3-month relative strength in the Financial sector * Breaking out of a base on base pattern with higher than average volume * Was consolidating for ~3 months prior to building another base Trad Idea: * Now's a great time to enter as the price is close to the broken level and volume is picking up as well. * If you're looking for a slight discount you can look for buying opportunities near the $219.76 area Caution: * A daily close below $219.76 would put the price back inside the range and expose $211.91 as support. * Two or three consecutive days closing below $219.76 would negate the idea.
NYSE:FRCLong
by HaseebKhan_90
ITW ready to move higher?* Exceptional earnings * Very strong up trend * High 3-month relative strength in the Industrial sector * Breaking out of a ~8 month base with higher than average volume * Recently broke above the pivot point of $232.47 and used it as support for 5 days before moving higher * Retested the broken resistance as support * Pays generous dividends Trade Idea: * Now's a great time to enter as the price broke out and retested it as support * If you're looking for a slight discount you can look to buy near the $239.46 Notes: * The general Industrial sector is in a fairly tight range right now so this may follow the same path. * If you're not getting in right now, you may want to wait a couple of days to see how this plays out. * If it starts to range, you want to look for a high volume break of the range before getting in. Caution: * A daily break below $239.46 would expose $232.47 as support * A daily close below $232.47 would negate this idea. * Also if the stock continues to may lower lows for 3 consecutive days below $239.46 you might want to consider exiting the position early.
NYSE:ITWLong
by HaseebKhan_90
RYN looking to set new highs!* Great earnings year-over-year * Strong up trend * High relative strength in the Real Estate sector * Breaking out of a ~7 month base * Recently used a multi-year resistance ($35.05) as support * Looking at the weekly chart it seems like RYN is ready to continue its move to new all-time-highs Trade Idea: * If you can stomach a little volatility, now's a great time to enter as the price just broke out. * If you're looking for a slight discount, you can look for buying opportunities near the $38.40 area as that should serve as support moving forward. Caution: * The markets are volatile right now so a daily close below $38.40 would negate the idea for the time being.
NYSE:RYNLong
by HaseebKhan_90
CPRT ready to move higher?I last spoke about this on October 29th as it was breaking out of the resistance at $152.85. At that time I did mention that this may end up consolidating for a while before it's ready to move higher. Now CPRT is offering yet another entry and it seems like it's ready to move higher from here. What's really interesting about this is that it consolidated while the general market was in a correction. This indicates that institutions are interested in this stock and were keeping it afloat. Now may be the perfect time to enter before it starts heading higher. Everything from my previous post still stands. Trade Idea: * Now's the right time to enter as the stock is trading at higher than average volume * Earnings coming up next week * If you're looking for a slight discount you can look for an entry around the $152.85 area * $152.85 as been serving as support and should serve as support going forward
NASDAQ:CPRTLong
by HaseebKhan_90
PRFT offering another entry before shooting higher!* Excellent earnings * Very strong up trend * High RS in the Tech sector * Testing broken resistance as support of a ~2 month consolidation * Very high volume (178.3% higher than average) Trade Idea: * Usually when a stock breaks out, comes down and offers another entry it means it's ready to go higher. * Given the volume, it seems like institutions are interested in the stock * As always, now's the time to jump on board!!!
PLong
by HaseebKhan_90
URI getting ready to move higher!* Excellent earnings * Very strong up trend * High relative strength in the Industrials sector * Breaking out of a ~8 month consolidation with very high volume (172.64% higher than average) * Max probable ROI on this trade is 26.08% Note: * Institutions don't buy breakouts, they create breakouts. Trade Idea: * Now is the perfect time to get in since the price is still very close to the broken level and it broke out on very high volume. * Also, the last closing candle can be classified as a bullish pin bar showing tonnes of demand under the $364.30 area
NYSE:URILong
by HaseebKhan_90
BRX set to move higher?* Good earnings * Long term, it's been going sideways but a new up trend has started * Recently broke a multi year resistance of $21.93 dating back to 2016 * Used multi year broken resistance as support for the past 5 months * Breaking out of the 5 month consolidation with higher than average volume * High relative strength in the Real Estate sector Trade Idea: * Now's the time to get in since it recently broke resistance and has been testing it as support for the past 4 days.
NYSE:BRXLong
by HaseebKhan_90
WM showing signs to go higher* Great earnings year over year * Very strong up trend * Breaking out of a 6 week consolidation with higher than average volume ... roughly 37% higher * Broke resistance and retested it as support * Offering a pocket pivot breakout indicating that institutions are stepping in * Pays out dividends Trade Idea: * Now is the best time to get in as the price is still close to the breakout level and it's showing signs that institutions may be stepping in to buy * If you're looking for a slight discount you can look for an entry near the 156.60 area * A break below 156.60 would expose 154.26 as the next possible support. Note: * Given it's growth over the years and the fact that it pays out dividends, WM is also a great long term hold for your investment portfolio.
NYSE:WMLong
by HaseebKhan_90
PAYX looking to go higher after finding new support.* Excellent earnings year-over-year * Very strong up trend * Breaking out of a ~2 month consolidation period with higher than average volume * Very strong Relative Strength in the Industrial sector * Recently broke resistance of 117.11 and retested it as support Trade Idea: * As always, if you don't mind a little volatility in the short term this is a great time to buy * If you're looking for a discount, you can look for an entry near the $117.10 area Note: * The bullish pin bar from October 13th shows that there's a lot of demand for it around the 117.11 area. The price moved higher after the 13th increasing in buying volume so this has a less probability of revisiting that area.
NASDAQ:PAYXLong
by HaseebKhan_90
QCRH moving higher!* Good earnings quarter over quarter * Steady and general up trend * Recently broke highs from 2017 * Before breaking the highs from 2017 it consolidated for roughly 5 months close to resistance * After breaking the highs from 2017 it consolidated again for another 5 weeks creating a base on base pattern * Broke out of the 5 week consolidation with 88.74% more volume than average Trade Idea: * You can get in now as the breakout takes place with volume coming in * Or you can wait for a slight discount and enter around $52.10
NASDAQ:QCRHLong
by HaseebKhan_90
FSV breaking out of consolidation* Good earnings quarter over quarter * Strong and steady up trend * Broke out of a 2 month consolidation with higher than average volume * Pays dividends with a Payout ratio of 21.10% the company has a lot more room to grow Trade Idea: * Broke out of consolidation with higher than average volume * Saw a tonne of selling pressure after the break but held the broken level as support * This may end up consolidating for a bit before moving higher but $191.20 should hold as support * Look for buying opportunities around the $191.20 area
NASDAQ:FSVLong
by HaseebKhan_90
AMP pushing higher from new support* Strong earnings quarter over quarter * Expected to do better in the coming year * Strong up trend * Broke out of 5 month consolidation * Retested broken level as support with higher than average volume (33.98%) * Pays out dividends with a Payout ratio of 47.40% which means the company has a lot more room to grow and possibly increase dividends * Minimum probable ROI of ~12% if the trade goes in our favor Trade idea: * Perfect time to enter as it's picking up volume and using the broken level as support.
NYSE:AMPLong
by HaseebKhan_90
ASGN forming an A+ setup with multiple patterns!* Strong earnings year over year * Strong up trend * Broke out of a 5 month consolidation * During the consolidation it created a cup and handle pattern * After breaking the cup and handle pattern it consolidated just above the broken levels creating a base over base * Volume is now picking back up after base over base consolidation (53.53% above average) * Minimum probable ROI of 20% can be expected if the trade goes in our favor
NYSE:ASGNLong
by HaseebKhan_90