EquityCast

EquityCast Updated 

NYSE:UNH Long 1/2 position. Trendline break looks to be imminent. Could go a bit lower but this is a good spot to buy keeping in mind there is still a big gap below that will need to fill. There is a topside one as well now. 1st Entry: 486.25 (250 shares) Stop: None yet 1st PT: 500

EquityCast Updated 

AMD is still firmly planted in the bull flag channel, trying to break out and repeatedly poking the descending trendline. A failure to breakout would mean a 3 falling peaks bearish scenario and retreat to the low 80s. This will resolve within the next few days. (no position : neutral bias)

EquityCast Updated 

Note the gravestone doji daily candle. This looks ready for a short-term pullback to at least the green trendline support as it is still in a general uptrend.

EquityCast Updated 

30 minute strong reversal candle close Entry: 253.50 (support) Stop loss: 252.90 Levered with long call options. No hedge against it.

EquityCast

Last month was a hammer candle signaling what looks to be a bottom. Descending wedge pattern and trying to break out. Lagging indicator (MacD) looks to be crossing soon. Note this is still in an overall downtrend even with a descending wedge breakout. With buyers stepping in so strongly in this name recently it foreshadows some sort of good news whether its...

EquityCast Updated 

Long Call Options Reversal candle on the 30 minute. Entry: 73.05 Target: 76USD gap fill Stop Loss: 72.80 (tight stop) Risk/Reward: 1 / 11.8 on a share basis (much higher positive return R/R with options leverage)

EquityCast

Probable bounce to 79-80 for a retest of the white line which used to be support and will now act as resistance. 77 USD acting as new current support. Strong few bullish reversal candles on the 4HR. I have hedged my short with AMEX:UCO shares. Overall Bearish bias down to 73-74USD but nothing goes down or up in a straight line.

EquityCast

Very bearish daily candle close for Oil WTI. 3 black crows bearish continuation pattern with a daily bearish marobozu candle today! Not even a bounce. Short Entry: 200DMA (83s) Next stop: 50DMA (green line) Price target to cover: 73s Last part:

EquityCast Updated 

I postulated the possibility of a large drawdown in Netflix in my last post below (with a mathematical price target) and believe the probability for this event has increased post-earnings as it did not gap-up or move substantially higher. Invalidation of the Inverse Cup & Handle / arguably a Head & Shoulders would occur for me with the stock trading above April...

EquityCast

PT: 211 - 220 Updated chart and bearish structure + price targets. Whether viewed as a head & shoulders or inverse cup & handle, the target to complete the structure remains the same.

EquityCast Updated 

TVC:USOIL This time I've stripped out all lagging indicators (moving averages, MacD & RSI). When trading any chart always remember candlestick patterns and algo-driven support/resistance levels should be your guiding light in setting your personal price targets /stop losses upon entering a trade. In short, price action. The mentioned indicators above are a...

EquityCast

Rejected at the supply zone with an ominous inverted hammer + hanging man daily candle combo. Due for a pull-back. This massive cup needs to form a handle. Note the downside gap which would serve as an excellent handle target.

EquityCast Updated 

I have not entered yet but will be looking to do so. There is a clear inverse cup & handle forming on the daily. The indicators are rolling over. Calculations: -Neckline = $12. -Implied PT to complete the structure: 15.48(03/31 high) - 12.00(neckline) = 3.48(height of the cup) -12.00(neckline)-3.48(cup height) = $8.52 which is in line with a .236...

EquityCast Updated 

Bullish engulfing daily candle on earnings day with high volume. Next stop is flipping the 20DMA from resistance to support. From there a run to the 50DMA (green line) for an exit would be appropriate.

EquityCast

Forming a very nice bull flag which should take it to 100+ if validated I'll be entering upon break of the flag trendline. Trade to be posted upon entry but keep this on your radar. Bearish scenario: AMD fails to regain the white support line (now resistance) and the potential 3 falling peaks bearish pattern plays out instead taking AMD to the low 80s.

EquityCast Updated 

I will be looking for a short tomorrow on any bounce. Bearish marubozo daily candle with a rejection of the 200DMA, cutting through the 50DMA(green) then 20DMA(yellow) like butter and on monster volume. Not good! High probability of downside continuation tomorrow & the 20 + 50 DMAs will now flip from support to resistance. Downside price target: Major area of...

EquityCast

Distribution occurring going in to earnings. Inverse Cup & Handle (1 could make a case for a head & shoulders). ~290 neckline. 369 conservative top of the cup. 369-290 = 70 . 290-70 = 220 IC&H target. No position. I do not recommend gambling on an earnings direction as this stock is highly volatile. This is strictly an exercise in charting. Earnings could...

EquityCast Updated 

Multi-Week swing trade. CVS is forming a potential Cup & Handle on the daily time frame. Because of the upcoming ex-dividend date, it will be dividend adjusted. Entry: 74.40 (White line support) Stop: 73.90 PT: 83.89 Risk to Reward (R/R): 1:18.98 Trade Duration: several week hold -Daily timeframe Cup & Handle Set-Up for a multi-week swing trade in to...