Tag "trading setups"

GoPro Stock (GPRO) Nearing Key Technical Support Level

GoPro’s stock (GPRO) has definitely been taking it on the chin of late. Each bounce has been sold as investors have slowly deflated the IPO euphoria from the stock. The pullback off the highs wasn’t a surprise – I called the top in October – but depth of the pullback has been a bit eye-opening. With the stock trading at around $40 per share, and well off its post-IPO highs, it’s once again

Top Trading Links: Market Seasonality, Analogs, and Breakout Levels To Watch

Wow, it’s already time to turn the page to March. February will go down as the month the bears threw it at the one yard line. The selling pressure has just evaporated. With the market going up nearly every day, it’s easy to get lackadaisical. But as active investors, we’ve got to do everything possible to avoid that. The best traders know they need to focus on their process even

More Upside For The Russell 2000? Try A Bullish Butterfly

Small caps have finally broken out from their resistance level with the Russell 2000 (RUT) so far holding above the important 1220 level. Bullish momentum may carry the index another 2-3% higher, but that should be about it. The RUT has rallied from 1153 to 1232 for a gain of 6.85% in the last 16 trading days. For traders that think this rally might have another small leg higher, a

Top Trading Links: Bulls, Bears, And Better Traders

The stock market grinded to new highs while pessimism rose. And that made for a bullish combination. For example, we see plenty of breadth divergences are creating doubt. Frankly, we can all see what we want to see in market breadth at this point. If you missed it, be sure to check out last week’s read from @ukarlewitz on the fruitlessness of market timing using breadth divergences. Maybe they will

Gold Ends Higher: Will GLD Reversal Set Up A Tradable Rally?

Gold futures dropped sharply this morning, hitting a low of 1197 and taking the Gold ETF (GLD) down with it. In the process, GLD broke through a backtest support line. By all accounts, this looked like a continuation day to the downside. BUT, something interesting happened: there was a big GLD reversal. And this reversal could setup a tradable rally. So what set up this GLD reversal and what do we

Are There Green Shoots In Scotts Miracle Gro (SMG)?

There is record snow pack in the Boston area and much of the nation is going to feel sub-freezing temperatures this week. Not exactly the best time to consider revamping your garden. Last year’s visit from the Polar Vortex hurt the fundamentals of Scotts Miracle Gro (SMG), but the company was able to recover nicely in the late spring through the balance of the year. The stock now sits at

3 Stocks With Bullish Flag Continuation Patterns

As the benchmarks run to fresh highs, individual stocks do not always participate in the same way. Some will join the march higher, some will simply mirror the Index’s advance and of course others will lag and be left behind. This type of action “separates the men from the boys”. What has been occurring on a more frequent basis I have found in 2015 is that an abundance of flag

Apple Nearing Major Wave Completion: AAPL Price Targets

Shares of Apple Inc. (AAPL) have been very strong of late. And Apple is undoubtedly a great company. But I have to ask one simple question:  Am I the only one that can see the current wave pattern for Apple’s stock? The latest major wave higher may be coming to an end and I would like to discuss some potential AAPL price targets. Here’s what I see when I look at Apple’s long-term stock

Top Trading Links: Leadership, Seasonality, and Mental Toughness

Finally the markets broke free of their dreaded ranges! This week’s price action was very strong and appears to be signaling a break out (pending follow through). We’ve seen some strong new leadership in stocks and that’s encouraging. So what’s the best way to celebrate? Studying up. Here’s this week’s edition of Top Trading Links. Market & Trading Insights @harmongreg looks at the recent base in the S&P 500 SPDR ETF. He

Further Pain Ahead For The Brazilian ETF (EWZ)?

The Brazilian ETF, Brazil iShares (EWZ) hit a new 52 week low yesterday, briefly touching the 32.64 level before rebounding slightly to close above 33. While numerous reasons have been given for the continued weakness in the Brazilian ETF – the Petrobras corruption scandal, rising interest rates, flat GDP, water rationing – the result has been an especially ugly chart for yesterday’s emerging markets star. The six month Heiken-Ashi chart tells