One of the members of the SharePlanner Splash Zone Today pointed out a nice trade setup in GIS and so I thought I’d dissect it for you and give some thoughts on it. Quite a nice trade setup really, with a readily definable risk/reward to it. Obviously, this isn’t a [...]
Bear flag on VZ that is confirming to the downside along with a nice series of lower-highs and lower-lows. 30 minute chart also suggests some resistance at the $51 area. On the weekly chart there is a massive double top pattern brewing.
ORCL is sporting a perfect double top and and confirming the pattern today as well as breaking below the 50-day moving average. There is also a gap in the $38's that remains unfilled and continued weakness in this market would likely lead to that gap being filled.
4/21: Crude hitting major resistance on the chart. Since I don't trade futures in the Splash Zone, I have elected to short USO instead. There is plenty of long-term resistance overhead on the price of crude, which I will provide a chart for.
USO chart so far is really interesting to me. Yes, it has lost all of its short-term moving averages that include the 5-day, 10-day and 20-day, but overall, the pullback that has, until today, lasted six straight days and seven of the last eight days, has only given up 38.2% [...]
The chart is beautiful, and there is little resistance overhead. I’ve already added one new swing trade to the portfolio today and I like my positions and long exposure where they current are. As a result, I don’t want to add any new long positions to my portfolio right now. [...]
3/28: Holding strong to the 20-day moving average and breaking back above the 5 and 10-day moving average following a 4 day pullback in the stock. 200-day Moving average overhead has offered little support/resistance so isn't being considered in the context of this trade. Potential breakout target of $110-115. This [...]
