As we enter the month of May, the S&P 500 has rallied a stellar 12% year to date, and a little over 14% since the important low in November 2012. Given the relentlessness of the rally in stocks, more than a few bears have likely lost their shirts as the improbable became reality. I often state that more important than technical analysis (which is best used for reference price levels) for [...]
Global banking giant Morgan Stanley (MS) has seen its fair share of volatility in the stock price in recent years. After the large drop in 2007 and 2008, the stock rebounded sharply into the autumn of 2009 along with the rest of the market. Much like its peer Goldman Sachs Group Inc (GS) however, the highs from autumn 2009 have since not been recouped. The stock did however develop a [...]
Software giant Microsoft Corporation (MSFT) spent the better part of the past decade building what in hindsight may have been a significant bottoming formation on the stock’s chart. Plagued from the commoditization of the PC industry, among other things, the stock just couldn’t find any upward momentum that stuck around for longer than a handful of months at a time before running into price resistance again. Of course the charts [...]
From 2011 through the first half of 2012, energy drinks distributor Monster Beverage Corporation (MNST) was a trend follower’s dream stock. Pull-backs to simple support areas were shallow and subsequent buying came back steadily. Many a fund could have made its year, by just following the stock higher. The larger picture up-swing, almost 650%, which started in late 2008 and lasted until June 2012, eventually however retraced roughly 50% by [...]
As the Apple Inc (AAPL) earnings parade has come and gone, it is time again to focus on the charts that are rather than what was, should be, or what analysts think will be. Post the company’s earnings announcement on Tuesday, the analysis revisionists, also known as the sell-side analyst community, was busy taking their price targets down en masse. A select few analysts, much to many a trader’s amusement, [...]
