While the markets overall have remained mostly sideways it appears that WTI Oil prices are forming an upward channel. This , if broken, would indicate a potential decline in oil prices to the $40 area. World Geo-political situation, specially situation with Iran seems weighing on Oil price & pushing it down. So we think $40 is a very possible scenario for oil ....
SPY broke down from an upward channel & seems approaching to channel support from beneath. We think it will be a very good shorting opportunity if it holds below the channel & reverse from there. And to trade that we would consider $235 Puts $235 Put option * Trade Criteria * Date first found- April 11, 2017 Pattern/Why- Upward channel breakdown Entry...
FRSH came in of our fallen angel scan on March 30th, at $4.50. It rallied all the way to $6, consolidated & now braking out new territory today. We also like it as long as it is not following the market (Low Beta) & it has strong bullish pattern. To play this we would also look at August $5.00 Calls (currently $1.54) * Trade Criteria * Date first found- April...
VCIT is running within a long term upward channel. We are keeping eye for a potential Short trade. Please check back for Trade updates. (Note: Trade update is little delayed here.)
COGT seems forming a flag formation. On the other side it has a tones of insider buying. Executive Chairman of the Board picked up around 20 million worth of shares just week ago. There are some other insider buying as well. Overall it seems very interesting Long set up. * Trade Criteria * Date First Found- March 28, 2017 Pattern/Why- Flag formation Entry...
NUGT has an aggressive Long set up as Gold showing strength & tethering its short-term double top resistance. In the hourly frame we can see half-decent downward channel & it appears to break above. So we would consider entry at current price. * Trade Criteria * Date first found- April 4, 2017 Pattern/Why- Downward channel & strength in Gold Entry Target...
EEQ is an energy stock that seems forming a fallen angel pattern recently. On the other side Energy sector seems breaking out of a downward channel & getting ready for a short term rally. Along with the Sectorial strength, EEQ seems an interesting Long set up. * Trade Criteria * Date First Found- March , 2017 Pattern/Why- Fallen angel Entry Target Criteria-...
CHS seems forming a H&S formation in weekly frame and in the daily frame it is breaking down all the MA lines & strong support labels. We think it will decile from here down to $9.50 area. * Trade Criteria * Date first found- April 4, 2017 Pattern/Why- H&S formation Entry Target Criteria- break of $12.96 or bounce to $13.34 Exit Target Criteria- Target 1-...
IDT seems forming a fallen angel formation. After a huge decline, it is showing some strength now. It crossed above EMA lines & moneyflow is accumulating. We think it has decent upside potential. * Trade Criteria * Date first found- April 4, 2017 Pattern/Why- Fallen angle Pattern Entry Target Criteria- Break of $13.04 Exit Target Criteria- $15.17 and...
BOFI is a possible head & shoulder formation. It seems it has broken the pattern & $22.50 will be its target. To play this we would consider $25 April-17 puts * Trade Criteria * Date first found- April 4, 2017 Pattern/Why- H&S formation Entry Target Criteria- $25 April Puts Exit Target Criteria- $22.53 Stop Loss Criteria- N/A Please check back for...
ROST looks interesting short setup. It has broken down its recent support & all MA lines. We think it has more downside potential. For perfect entry we are looking for a pullback to $64 or break of Long term support around $62 * Trade Criteria * Date first found- April 5, 2017 Pattern/Why- Support breakdown short Entry Target Criteria- Break of $62 or...
CY is breaking down an upward channel formation, and showing downward momentum. Moreover it is in the weak semi-conductor sector. It looks a very good short setup & it can decline below $12 * Trade Criteria * Date first found- April 5, 2017 Pattern/Why- Possible momentum trade Entry Target Criteria- Break of $13.16 Exit Target Criteria- $11.83 Stop Loss...
FRAN is forming a potential H&S in weekly frame, and in the daily frame it has broken down key support area. We think it has huge downside potential, and it can go down to $10 area. * Trade Criteria * Date first found- April 5, 2017 Pattern/Why- H&S formation in weekly frame Entry Target Criteria- Break of $13.93 or rally back up to $14.93 Exit Target...
NEOS seems breaking out a long term downward channel formation. Moneyflow is getting stronger & today it had a breakout with huge volume. We think it has good upside potential & it will be a perfect hedge if market start to decline. Please check back for Trade updates. (Note: Trade update is little delayed here.)
PII is a possible downward neckline H&S formation. On the other side it seems breaking down from a long term pennant formation. So in short it can decline to down to $73 but in long term we are looking as low as $47.33 Please check back for Trade updates. (Note: Trade update is little delayed here.)
BZUN is forming a flag formation in weekly frame. It also formed an ascending triangle, which seems broken out recently. So we have short term target for ascending triangle & a long term target for weekly Flag formation. * Trade Criteria * Date first found- April 10, 2017 Pattern/Why- Flag formation (Weekly), Ascending triangle Entry Target Criteria- Break...
BLDP is forming a nice flag formation with huge volume, rally was backed by a recent contract. However, in the weekly frame it is forming nice upward momentum. We think it has very good upside potential in long term. * Trade Criteria * Date first found- April 10, 2017 Pattern/Why- Flag formation Entry Target Criteria- Break of $2.83 or pull back to...
Break below today's low. Stop signal 97.84. Target 88.17/83.67