1KLAC trade ideas
KLAC Day Trade or Swing Trade (Brad Reed Jan6,2015)KLAC expected to open at 66 for a Retest Gap. Watch for nearby support. Might make a good swing trade if it closes below next support. To learn to trade this strategy for free, go to www.RealLifeTrading.com
Follow Up Previous Post ($75 target hit and sweetened more)2-days ago, posted two conflicting patterns of which we were inclined to the bearish one with target price 75 but price even went beyond that level and it was great. It was more of the outlook that killed recent big rally and probably will not recover soon. The huge bearish gap down did not get enough attraction to buy the dips especially high dividend yield stock like this. Now, we expect price to print a new lower low from October low and ride it to that level. If you want real time alerts try us www.2waytrading.com
Ascending bullish triangle/Bearish Hanging Man Which 1 to trustDo patterns and technical evaluation matter? Yes, if you are a technician but recent market that salivate when central banks even say a few words gave hard time both fundamentalist and chart-st alike. The ascending bullish triangle is predicting a possible upside move that goes beyond reasonable levels but still if u believe in patterns u shouldn't worry, another bearish pattern show up but now evaporated and did not get confirmation and some other short term patterns along the way. Only the dividend yield itself is a good reason to play with this but in the short term, there is a good chance that the ABT could fail and price pull back to 75 levels if market pulls back and we are inclined that strategy for now. Do your homework and use tight stops regardless which direction u prefer. If you want to real time alerts on this security try us www.2waytrading.com
KLACTrend line noted might provide some resistance while price bounced off the 8mma. This is my first view. Next I'll look at weekly and monthly
KLAC Gets ClockedThis morning, the leading semiconductor equipment maker KLA-Tencor Corporation (NASDAQ:KLAC) is coming under some selling pressure. Earlier today, the stock was downgraded by to neutral by Susquehanna. KLAC stock is now trading lower by $2.17 to $62.60 a share. Day traders can watch for intra-day support around the $61.97, $60.88, and $60.45 levels. These support levels are only valid for today.
Nick Santiago
www.InTheMoneyStocks.com
Short Idea for $KLACMany things working for us to consider a bearish reversal.
We are hitting the 5th wave of the Elliot wave.
Major resistance from all the way back from 2007.
MACD has a nice bearish divergence
Stoch is showing the stock is overbought and due to pull back.
Looking for a pull back to the blue dotted trend line.
