Dunkin’ Brands Read To Break Out
Following its July 2011 initial public offering Dunkin’ Brands Group Inc (DNKN) was sent on a bumpy ride for the first eight months of the listing. The coffee and breakfast chain operator had a strong rally off its late 2011 lows that ultimately retraced exactly 61.80% (an important level for those following Fibonacci study) by […]
Market Outlook April 12
After an already steep incline for 2013, the S&P 500 rallied another 3.50% off last Friday’s intra-day bottom, which of course came on the back of a weaker than expected jobs report. The prudent question to ponder at current juncture, just days away from the thick of earnings season (in my humble opinion), is whether […]
Crocs, Setting Up For A Breakout
Flipping through the charts last week I came upon an old favorite trading stock that currently rests just inches away from a meaningful breakout higher. The stock is Crocs Inc. (CROX) – traders might still remember the stock’s spectacular rise and subsequent fall in the 2006 – 2008 time period. From a pure volatility point […]
Dick’s Sporting Goods At Critical Spot
As I scanned the charts of retailers this weekend the one of Dick’s Sporting Goods Inc. (DKS) particularly stood out. The stock has reached a critical juncture where a break above could at least lead to a re-test of the November 2012 highs, whereas a reversal down would be good for at least 10% on […]
United States Steel Corp Sniffing At A Key Breakout Attempt
US equities frolicked higher yesterday Monday September 9th on the back of a big rally in Asia and eased concerns around a possible military strike on Syria. Most sectors of the benchmark S&P 500 index acted exceedingly well, among them the materials group, which with yesterday’s 1.50% rally managed to close at a fresh year […]
Starbucks Breaking Out, Again
Coffee retailing giant Starbucks, Inc (SBUX) continues to push higher in unabated fashion. Since its August 2012 lows the stock has rallied more than 50% and this year alone the stock is higher by 21%. When will it all end? I’m not sure that’s a question worth asking yet, although being on the lookout for […]
Google, Still In A Positive Posture
In my last musing about internet giant Google Inc. (GOOG) on May 21 here (http://investorplace.com/2013/05/goog-is-full-right-now-come-back-later/) I went over the near-term overbought conditions of the stock and said it would likely have to either consolidate in price or time (sideways movement) for some time before standing better odds of moving higher again. The stock has since […]
No Reason To Chase Microsoft Stock Higher Here
On April 30th I discussed here (http://investorplace.com/2013/04/microsoft-stock-needs-time-to-digest/) that Microsoft Corporation (MSFT) with its recent near vertical ascent will likely need to consolidate before ultimately having better odds at rising much higher. Four days after my column the stock had pushed to a high of $33.91, where it however ultimately found resistance that led to the […]
PNC At Major Resistance Line
Diversified financial services organization PNC Financial Services Group (PNC) along with the majority of the banking sector had a great run off the November 2012 lows. Specifically the stock is higher by 25% since then and recently again ran into a major resistance/toggle point. The resistance line/area in question dates back to early 2010 and […]
Market Outlook April 11
Yesterday’s broad rally in risk assets squeezed plenty of players that got caught with too many beta shorts from last Friday. The tape continues to be unforgiving to short sellers, just as the S&P 500 marked another all-time high daily closing. On the daily chart of the S&P 500, the breakout was clean past the […]