WYNN Retesting The H&S Neckline
WYNN is retesting its neckline now for resistance. if this can hold as resistance the next swing should be towards the final target of $90. we remain in half of our original short position after taking profits earlier this week
Akamai Long-Side Try
AKAM is coming into a huge level here. the downtrend from January (blue line) and the 50 day moving average are right here right now. $23 is horizontal resistance and if we can overcome that on a solid daily closing we would consider going long. also note the gray zone…a gap, that could fill nicely.
Profit Taking in MS and IWM
we closed our bucket 2 long position in MS for profits also took half off of our IWM Bucket 2 long position for profits
Multi-Year Breakout Near On Activision Blizzard (ATVI)
The weekly chart below of ATVI shows clear resistance at the upper downtrend line. we like this for a potential Bucket 3 long position on a daily close above $12.70 on solid volume.
Quick end of day thoughts
We took some gains from the rally by selling our entire MS bucket 2 position to the ducks for good profits and did the same with our IWM bucket 2 long position, but only half of it. Tomorrow's non-farm payrolls number looms large and we want to remain nimble going into it. we expect the […]
The Long Side on Finisar (FNSR)
Finisar Corp. (NASDAQ:FNSR) is a provider of so called ‘optical subsystems’ and equipment that connects local area networks, storage area networks and metropolitan area networks. Sector: Communications Industry: Telecommunications On the weekly chart we note two key trend lines. The first is the uptrend from the lows of 2009, which Finisar Corp. (NASDAQ:FNSR) broke […]
Costco (COST) Has Room To The Upside
With close to 600 stores, Costco Wholesale (NASDAQ: COST) is one of the largest membership wholesale retailers. The recent buyout announcement of BJ Wholesale Club (NYSE: BJ) led me to have a closer look at some of its competitors and I promptly found a nice long setup in Costco Wholesale (NASDAQ: COST). On the […]
SOX Semiconductor Index Chart…Fibonacci 61.8%
Check out the 61.8% Fibonacci retracement level that held earlier this week on the SOX. Just something to keep an eye on.
Semiconductors Remain Looking Weak
Semiconductors as a group remain looking weak as displayed by the SOX index below and should slide lower. Two things however; 1) the SOX index is no longer as representative of the semiconductor industry as it used to be due to foreign listed competitors adn 2) Intel is back below the $22 level and as […]
Tight Bullish Pattern In Walgreen (WAG)
Note the tight channel, so far considered a bullish flag pattern, in WAG. A trade would trigger to the long side on a daily close above the channel.