Breakout of the downtrendNice consolidation for 14 sessions and breakout of downtrend line/200SMA. I own shares and will have sell order ready 90-93 range.
NXPI trade ideas
NXPI breakout of channelNXPI has been in a descending channel since mid May, and finally confirmed a breakout. I would technically buy on the retest of the trendline, but the long term ascending trendline seems to be holding prices, so I'm looking to buy on a pullback to the 78.28 support level to go long. First target would be 87.69, but if price breaks through then I would be looking to target resistance at the 95 level.
NXPI 91.45 – Probes key resistance clusters on the daily chartNXPI 91.45 –bullish – Probes key resistance clusters on the daily chart
NXPI is probing key resistance clusters on the daily chart including the 200 day moving average currently at 92.09, the 3.5-month falling trendline (from June 1, 2015 peak) and the 50% retracement of the 114.00/72.05 fall at 93.12. A decisive upside breach of the area would extend the 4-week rally towards 94.90 (September 9, 2015 high) next. 89.13 (September 16, 2015 low) near the rising channel support should hold dips.
Outlook:
Daily: bullish
Weekly: bullish
NXPI 91.45 –bullish –Long-term trendline underpins strength NXPI 91.45 –bullish –Long-term trendline underpins strength
NXPI found support at 72.05 (August 24, 2015 weekly low) just above the 2.5-year rising trendline (from April 22, 2013 low). Since then, it has rallied strongly to retrace over 50% of the 114.00/72.05 fall. Technical indicators are improving, suggesting further upside. Above 94.90 (September 9, 2015 weekly high) would strengthen towards 110.26 (July 27, 2015 weekly lower high). However, a deeper pullback below a 3-week rising channel support would caution bulls for prolonged consolidation and expose the 85.13/81.32 zone (September 7/August 31, 2015 weekly lows) which may hold dips.
Outlook:
Daily: bullish
Weekly: bullish
NXPI running on iPhone 6Watch for gap up on Monday this stock has great potential to run hard...I talked about it in London in 2012 and has come a long way since, the time is now
NXPIA good example why we don't short the PRZ. We wait for a topping formation of some kind. NXPI did not offer once and went right through the top of the PRZ.
