Inverse Head & Shoulders In AMZN, SPX, And All Around!
For the sake of pointing it out but not so much because I want to play this….note the inverse head and shoulders pattern in AMZN. The neckline (resistance) is ust around $192, which by the way is also an all-time high for AMZN. The stock is up nicely today after announcing earnings last night, so […]
Infosys Technologies (INFY) Failed At Major Technical Support
INFY dropped 13.42 on Friday after disappointing fourth quarter results and uninspiring forecast. Two Charts to focus on: First the daily chart where we notice a 5 month long head & shoulders pattern that is just now starting play out asthe neckline got broken on Friday….at $65. In a perfect world the ultimate profit […]
Inverse Head And Shoulders Pattern In Gold?
Note the potential inverse head and shoulders pattern that setup in the GLD. If this plays out textbook, the final profit target would be near $53 and a stop-loss could be set near $135.
UK Retailer Tesco (TSCO) Attractive Chart Pattern
We don't trade a ton of European stocks but the chart of UK retailar Tesco (TSCO on the London Stock Exchange) is looking juicy. The inverted head and shoulders pattern not only put in a nice solid bottoming process in March, it also has a nice and defined entry (above 415), stop (below 400) and […]
Research In Motion (RIMM) Head & Shoulders Playing-Out
As discussed early morning today in the pre-market morning video (http://steadytrader.wpengine.com/video-2/march/), RIMM is in the progress of playing out a classic head & shoulders pattern. See chart below. The target is just north of $51. Several things make this head & shoulders pattern nice in RIMM. Note the consolidation period around the 200 day moving […]
AMZN On The Run Higher Again
We pointed this out in the weekly newsletter (http://steadytrader.wpengine.com/newsletter/) over the weekend, and today AMZN is off to the races higher again. At some point here soon a pause is due, but just so we've mentioned it…these inverted head and shoulders patterns are pretty to look at but don't work well (as with most things) […]