canuk101

canuk101

Lockheed Martin is forming a bullish cup and handle pattern into renewed focus on defense spending. 12% gain from here would returns to previous all time high.

canuk101

Pulled back to 21EMA value zone last week, and reversed to close the week bullish. Bullish MACD and Force Index Divergences point to upside potential in the week ahead.

canuk101

Who will win? S&P500 is trying to push through two bullish patterns (reverse head & shoulders and bullish cup and hangle) but seems to be struggling to break clear of the downtrend resistance line

canuk101

Long term trend (weekly view) shows 2 previous market "resets" result in an approx. 50% drop in the S&P500 . Tech bubble popping in 2000 and Financial Crisis in 2008. So far, this latest downturn is 20% off its high. Its another 10% down from here to retest the high in Feb 2020 just before COVID-19 hit the US. That would bring the S&P500 back into the longer-term...

canuk101 Updated 

This indicator adds channels based on bollinger bands to Elders Force Index to mimic the Lavorn ATR Channel concept. Credit for original concepts to Alexander Elder and Kerry Lavorn. (improvement potential - change out Bollinger bands for Average True Range. Please let me know if you change the code to achieve this).

canuk101

Despite blow-out record results a few weeks ago, AMZN is following the market and now testing major support at ~$3000. If it fails here, its a long way down to the next level at ~$2000

canuk101

Mixed results last night have accelerated the downtrend for CostCo and the stock has broken the long-term trend to the downside. Support is likely at $300 which is also the 100d-EMA If it breaks that, then its a long way down to intercept the old pre-2018 trend.

canuk101 Updated 

Amazon, AMZN is in a consolidating wedge pattern. The lines converge at the same time as Q1 results are expected, which could provide the catalyst for a break-out.

canuk101 Updated 

So far the bounce off the covid low has returned to the middle of the major uptrend. Where next? I'm certainly seeing more bearish sentiment out there this week. My long-term trend analysis shows there are many worries and crisis that cause day to day moves but only a few truly reset the trend lines. 2000 and 2008 were the most recent ones. Covid has all the...

canuk101 Updated 

Cup of tea anyone? Ford seems to be drinking a lot just now, with multiple bullish cup & handle set ups but no successful breakouts. $7 - 7.5/shr is providing really strong resistance but the stock is coming to the pointy-end of a rising wedge that might provide a break-through. Waiting on a material break of $7.50 before going long.

canuk101

Tesla has reached the end of the flag/pennant pattern of consolidation. Now its time for a break-out, but which way?

canuk101

As I pointed out at the beginning of July, Ford is forming a bullish cup and handle pattern with a key decision point at ~$7. That decision point is now here. Are we headed back up to $9 and beyond?

canuk101

Dollar tree looks to be struggling at resistance and cant close the gap down created in Dec-2019. Seems being a discount store in a jobs/income crisis isnt enough to outweigh the headwinds of no online presence, burden of paying workers a premium to turn up and a wave of store closures as the second-wave lockdowns start.

canuk101 Updated 

Could retest 300 or even 290 in the near term

canuk101

Is Ford completing the handle section of the a cup & handle pattern? If so, there is 50% upside from here back to $9. It will be pivotal what happens at $7 resistance.

canuk101 Updated 

Amazon is creating a potential false upside breakout supported by a strong MACD-H divergence. If it falls to the blue line then the MACD histogram will likely go negative and Amazon could drop to 2000. However, this is a really popular the stock is just now - that might slow the supply side and suppress a fall.

canuk101

A nice bounce in pre-markets, but beware the psychological resistance at the half-way mark of yesterdays losses. Likely to stall there, at least for a while. If it passes clean through, then the bounce will have great momentum and likely recover a good portion of the losses yesterday.

canuk101 Updated 

See text on the chart of more details.