reversalradar

reversalradar

I like this trade for several reasons: 1. Large breakout volume 2. Flat tight base (8.5% base) 3. Closed high in day range on breakout day 4. Stage 2 base 5. Still in 5% buy range from buy point ($63.60) Fundamentally, there isn't consecutive quarters of earnings acceleration.

reversalradar

FB has finally broken out of the long nearly 6 month basing period. It is still within it's buyable zone of 5% from 81.26 buy point, according to the IBD system.

reversalradar

The daily lines up nicely with 4 previous supports. There was a recent battle to hold the 50-day MA, which was lost, however the trend is up, and this is confirmed with higher high and higher low.

reversalradar

GLD seems to forming a nice morningstar bottom here and it's close to the trend line support from early Nov and early Jan lows. GLD has also broken previous highs (higher low in Jan, higher high in mid Jan from mid Dec. Vol is also very low the last 3 days, which seems to indicate a slowing of the sell off. Notice also the concentration of the Parabolic SAR...

reversalradar

Heavy volume on a break out above 11.00. Now forming what might turn into a high tight flag pattern with another entry point at 12.12.