The uptrend created on the earnings gap from July of 2013 was tested in November, and then again in April of this year. We have now bounced off the line, and broken back above the 161.8% Retracment of the IPO-to-ATL's move. FB could now look to retest the ATH around $72.50 from March.
$SPY has been stuck in a $8 price range from February. However from the low's it made in April it has been making a series of higher lowers and constant highs ($189). I believe it will brake above $189 to test resistance at $189.70 and could break out above that to new All-Time-Highs.
At the start of 2014, VZ tested and failed it's support line from August 2011. At this time there was also a conversion of moving averages (MAC). Now VZ is back above it's 50 Day EMA and looks to test its resistance line which formed in May 2013. If it brakes out above that, it should retest it's fib level at $49.11. A break above that level would result in a...
Inside a bearish flag, where I see prices decline in the long term, I am seeing an opportunity for a long position which will bring ED back to the 23.6% retrace of 2012 highs. Long here with a target of $58.14 and a stop level at $56.10.
On Friday, BAC broke out above the 76.4% retracement of it' highs set in early 2010. Due to a steeping yield curve, I believe BAC has a clean ride all the way back to it's highs of $19.87 set in 2010. I will use the 2014 opening price as my stop.
