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Roundingbottom

RRGB - Great price action so far (buy the next dip)RRGB has the hallmarks of a stock that could potentially be a great winner. It broke out of it's base formation on 1st March on earnings beat with a strong breakaway gap (Breakaway gaps signify the beginning of a new trend and does not get filled in the near term). It then proceeded higher over the next few days before pulling back to the breakup level @ 10.60 on 14 Mar, and then bounced right off again from there. This classic "break up and retest" establishes the neckline as the new "resistence turned support". If one had been watching this stock, going long shortly after this "retest" would have been ideal. However, since it is likely the trend is still in early stage, any near term dip (eg to fib retracement levels of 38-50%, or formation of bull pennant or flag etc) would still be a good opportunity to long. Let's see if the opportunity presents soon. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:RRGBLong
by Juliac
CRM - approaching neckline @ 195CRM had been basing for about 10 month now (since last May), the first sign that the worst could be over was when it broke above the 200 day movving average on 27 Jan, then a retest of this MA a month later on 27 Feb which validated the 200 day MA as the new "support". Several days later on 2nd Mar, it gapped up strongly on earnings beat, stopping right at a significant neckline around 195. Then proceeded to pullback and almost closing the entire gap in the coming days. While the stock has been staging a recovery since hitting the low in Dec last year, it also experienced steep pullbacks on the way up. Buying the dips would certainly had been a better option in this chopping conditions. Despite the volatility, what is clear however is that the stock is still on it's way to recovery, forming higher hi's (HH) and higher lo's (HL), with RSI staying at 50 or higher since early Jan, and a Golden Cross since 10 Mar. It could attempt to break the neckline @ 195 again in the coming days and if and when it is finally able to break and stay above this level, then we could (hopefully) see more a more steady rise with pullbacks that are less steep (ie within 50% fib retracement of each mini up swing). And the next target could be around 220. We can "predict" price targets but it is important to manage our risk with trailing stop losses and see what the market gives us. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:CRMLong
by Juliac
NCC rounding bottom breakoutCMP 99.35 Increasing profits every quarter for the past 2 quarters Company with decreasing Promoter pledge FII / FPI or Institutions increasing their shareholding Near 52 Week High Strong Momentum: Price above short, medium and long term moving averages RSI indicating price strength *Not recommendation. Do your due diligence NCC Limited is an India-based company. The Company is engaged in the infrastructure sector, primarily in the construction of industrial and commercial buildings, roads, bridges and flyovers, water supply and environment projects, housing, power transmission lines, irrigation and hydrothermal power projects, real estate development, etc. Apart from India, the Company also has international presence in Oman and the United Arab Emirates.
NSE:NCCLong
by JustIdea
9
TARMAT ltd rounding bottom breakoutCMP 78.05 New 52 Week High Growth in Net Profit with increasing Profit Margin (QoQ) Company with Low Debt Company reducing Debt Company with Zero Promoter Pledge Stock gained more than 20% in one month Strong Momentum: Price above short, medium and long term moving averages Negative to Positive growth in Sales and Profit with Strong Price momentum RSI indicating price strength High Volume, High Gain *Not recommendation. Do your due diligence Tarmat Ltd is an infrastructure construction company engaged in the business of construction of Highways and Runways.The Company started their operations by taking up road works for Government Departments like Public Works Department (PWD), Maharashtra Industrial Development Corporation (MIDC) and BrihanMumbai Municipal Corporation (BMC).The current projects of the company includes Karnataka State Highways Improvement Project-Upgradation of road from Sankeshwar to Yaragatti Total Length of 73Km.Construction of integrated roads at north lake village , Amby valley city, Lonavala.Bus Rapid Transportation System From RTO-Pirana.Concretization of Existing Roads (Part- I).Construction of Additional Concrete Parking bays for aircrafts at Cochin International Airport.
NSE:TARMAT
by JustIdea
4
FLSY - Anatomy of a "Good" tradeHi All, This is just to share on how I would approach a trade (as a trader). 1. Look for signs that the stock is forming a bottom (rounded bottom, inverted Head and Shoulders, Adam and Eve), rising above 200 day MA, Golden Cross etc. 2. Check out its longer term charts (ie weekly and monthly) as you will likely see a clearer picture of it's direction. 3. Wait for some triggers (eg breaking above neckline especially on strong volume). FLSY is a good example and had presented several good opportunities for several short term trades recently (could be held for longer term if one had entered earlier around 12.36 (1st Entry in chart) and didn't get stopped out. 1) On 2nd Feb (Initial Breakup), it gapped and broke up above this neckline (as well as it's 200 day MA), everything looks good except volume was just above average. Well, this initial break up failed! Yes, it happens more often than we cared for, especially during the earlier phases of the trend, hence a conservative trader would prefer to wait for a pullback and long if the neckline proved to be a support. 2) on 13 Feb (1st Entry), FSLY once again gapped above the neckline and 200 day MA, but this time the volume was HUGE. However, this was prior to earnings announcements (2 days later, AMC). There is a possibility that earnings beat had been leaked, so if one decide to enter this trade, then it would probably be wise trade small. 3) on 16 Feb (2nd Entry), the day after earnings, which beat expectations (surprise surprise...LOL), many traders will FOMO into the stock especially as it rose above the previous candle's high around 14.20. This turned out to be a very profitabe trade (intraday). Next day however, it formed a "Harami" candlestick (aka "inside bar"), showing indecision at this point. I would raise the stop to 15.30, slightly just under this "Harami" candlestick (which is already a 11% SL from its high @ 17.18). Those with a larger risk appetite could raise the stop to entry price (ie 14.20), allowing for larger volatility which could stop one out prematurely but be prepared to give back all profits if wrong. 4) FSLY had a steep pullback after all (due to poor market sentiment during the whole month of Feb) and found support only at 61.8% of it's large AB up swing. This was also within a prior "Resistance" but turned "Support" zone. It began to form small sideway candles (a signal to long if it starts to break above this "consolidation" range) 5) We had a Long trigger again last Friday (3rd Entry) as the stock started to rise decisvely above the consolidation high @ 14.20. It turned out to be a large candle day, hence I would place initial stop loss just below this large candle (ie 13.55, a 5% initial SL). There is a good chance this stop will not get hit (although nothing is guaranteed LOL). Uptrend is underway for FSLY (above 200 day MA, with the shorter MAs (20 and 50) both rising. However, it could still experience large swings along the way and one has to manage the trade and raise the stops from time to time to protect profits. Just because one is stopped out does not mean the stock is spent. Sometimes it could be just periods of consolidation (short or long periods). Keep it on your watchlist as long as the stock has not shown signs of bearishness on a higher timeframe, set alerts for the next trigger. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:FSLYEducation
by Juliac
1
SNAP - could be emerging from baseSNAP plunged 10.3% on 1st Feb after announcing yet another quarter of dismal results. However, what happened after that is interesting. The stock began to recover steadily in the last 3 days on good volume, a stark contrast to the correction the general market was experiencing. This exhibits "hidden" strength / support for the stock. There is a good chance it is going to test a critical neckline @ 12.94 in the coming days. Should it begin to break above this neckline and also the 200 day MA, then the odds are good then it has entered into a recovery phase. Let's wait and see. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:SNAP
by Juliac
TOST - Emerging from BaseTOST hit bottom 8.5 months ago on 12 May 2022 and began a 2 stage basing, lasting 3 and 5+ months respectively (pink and blue box shown on chart). During its basing, there were high volume accumulations on numerous occasions. Stage 2 basing occurred over 5.5 months with the stock whip-sawing around its 200 day moving average until the MA is no longer downward sloping but completely flat now (and ready to turn up...). Yesterday the stock finally pierced above the a critical neckline @ 22.50 and has remained above so far. The odds of this being a successful breakup is much greater now owing to the shift in overall market sentiment. An aggressive trader would enter on the breakof the neckline (Entry 1) with initial stop loss placed just below the most recent pivot low @20. The more conservative trader could wait until the uptrend is slightly more established and enter at #2. Watch out for earnings expected on 14 Feb. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:TOSTLong
by Juliac
W - strong price actionW had begun to form a saucer base pattern since Sep2022 (4 months basing), eventually cumulating to a break above it's neckline last Friday ( 20 Jan23) on very large volume. The following Monday on 23 Jan23, W announced it will cut 10% of its workforce and the market reacted by gapping the stock straight above it's 200 day moving average on yet another high volume day. Since then it had pulled back a little, forming a potential bullish flag. Will the recent gap close soon? not necessarily, if it is a breakaway gap (which usually signify the start of a new trend). Can only wait and see. Meanwhile, it is worth a shot to go long as long as it starts to break above the bull flag, with initial stop loss placed just slightly below the start of the gap @ 46.70. Trail stop up once the trade goes our way. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:WLong
by Juliac
2
SHOP - Ready to trend soon?SHOP had been building a rounding base for the past 9 months with 2 (failed) attempts to break it's neckline @ 45.30. The stock finally had a Golden Cross a few days ago on 18 Jan, further solidifying that it is bottoming out. Even after golden cross has occurred, some stocks can continue to remain volatile within a range for another 2 or even 3 months. Hence a better time to enter long is to wait for a break above a significant neckline (in this case 45.30). The aggressive trader would enter as the stock starts to break above the neckline (entry 1) although there is a chance this could be yet another false break (but with diminishing odds as the moving averages are now aligning to the upside). A more conservative trader could wait for further upside momentum by waiting for the 1st pullback above the neckline, and then enter only when the stock starts to break above the last pivot high (entry 2). Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:SHOPLong
by Juliac