Chartimistic

Chartimistic

Benchmark Electronics has been riding a bullish move since the May pullback completed. It has created a flag pattern that has since broken out & successfully re-tested. I have a couple of price targets noted, the first may be in sight soon.

Chartimistic

HD weekly chart had a bearish RSI divergence. The stock started breaking down on November 18th & has broken down through the support trendline this week as it nears the first potential pullback level. There is a lot of call activity in this name today in the January 3, 2020, $230 calls.

Chartimistic

The CP daily chart is breaking out of a bull flag pattern during today's session. Seems that a lot of charts have been forming this pattern lately, a very bullish sign overall for the market. Note how price is beginning to move above where there would be much volume action. Let's see where this stock closes today & if there is any continuation in this breakout.

Chartimistic

Here is the weekly chart for NUAN. It has been trading within an ascending wedge pattern since the end of 2018. It broke out of this pattern in early November. I have noted a couple of pullback zones where I would like to see bullish momentum continue. We can see that the first zone was tagged before the price began moving higher this week. We will have to see if...

Chartimistic

The third price target was hit on the market open from yesterday's 1-Hour chart analysis due to the gap up at the open. Let's see how much farther the bulls want to take it.

Chartimistic

SHOP broke out of a bull flag pattern on the weekly chart in the week of November 18th. The following week continued the breakout & it is continuing to show strength early this week despite the overall market weakness. I am also noting the lack of volume above the current stock price according to the VPVR data. I am targeting the $424.70 & $458.70 price levels.

Chartimistic

The weekly chart for GDX has created a bull flag pattern. The stock is finally breaking out with the market weakness. I am aiming for the $37.30 price level as a potential target but the prior $31.30 level could provide some resistance. Of course, if the market finds strength again then be ready to take your profits on this one quick.

Chartimistic

The Nasdaq Internet (QNET) chart has broken out of a descending triangle pattern back in mid-November. It may be pulling back slightly off the 100% Fibonacci Extension level but still worth checking this industry out for potential trade ideas. The following stocks are within this industry & seem like interesting trade candidates. I would have included links to the...

Chartimistic

Nasdaq Benchmark Drug Retailers Index (NQUSB5333) broke out of an ascending channel in early November. Since then, it bounced off the prior resistance line of the channel surpassing the 100% level of the Fibonacci Extension tool. It has been pulling back off the recent highs & I have noted two possible Extension retracement levels with the dotted red line. I am...

Chartimistic

CAE broke out from an Ascending Triangle pattern on November 8th. Since then the price pulled back right to a 50% Fibonacci level where it seems to have found support & is attempting another bullish leg. I have used the Fibonacci Extension to project three potential price targets at the 50%, 61.8%, & 100% level.

Chartimistic Updated 

The Russell 2000 ETF has seen a price run-up since early October as it emerged from an oversold condition. The recent pullback has created what may be a bull flag (magenta trendlines) that is close to breaking out. The IWM also seems to be gaining some relative strength vs the SPX which should bode well for this ETF gaining in price. Upon further evaluation of...

Chartimistic Updated 

This is not a great stock or a great company at the moment, but the stock may have bottomed for a period of time & seems to be trying to get out of an oversold condition. For those willing, I have three potential price targets but I am not expecting a great bullish breakout, just a bit of a bounce unless the stock proves us otherwise.

Chartimistic

Stock is exiting an oversold condition while maintaining an RSI above 50 & remaining in its existing ascending channel. This stock is gaining some strength against the SPX as is the Discretionary sector. I am targeting the channel resistance line or the $65.20 price level as my profit zone.

Chartimistic Updated 

MCK had a poor earnings report on October 30th but despite the falling price it still managed to hold the ascending channel. The stock price is right at the gap resistance level but with the stock trying to escape an oversold condition it looks to have a lot more room to rise. I would be aiming for the resistance line of the ascending channel but $147.20 is the...

Chartimistic Updated 

Stock sold off due to their earnings report. Honestly, I don't think the report was so bad to deserve a +20% selloff. If you look at the other burger stocks, all dealing with the same issues, most of those stocks held up today, even being green. The selloff today held around the 61.8% Fibonacci Retracement level from the December low to the recent September...

Chartimistic Updated 

ROKU has pulled back since hitting my first price target level & gapped down today after an earnings report. The stock has since gone green on the day seemingly finding support on the bearish magenta trendline that used to be resistance but may now have turned into support. Stock price has also found previous gap resistance that can now be acting as support.

Chartimistic Updated 

AMD is breaking out of a small symmetrical triangle pattern on the daily chart. This follows after having broken out of a slightly ascending channel back on November 4th. The stock price is still surfing that 10-day EMA line as well. The EMA line is similar to where the top band of a Keltner Channel can be found confirming the strength of this bullish move. The...

Chartimistic

Tyson recently had a small pullback as shown in that descending channel on the chart. The price managed to find support on the 50-day EMA before breaking out of the channel due to their earnings report. The price targets are the $105.60 & $123.00 price levels.