Trade Update
Move MRK stop down to $81.39 We want that to be a bit below the 200-DMA. So far MRK hasn’t been able to recover from the Monday hit the markets took, but it has held the 200-DMA support level well.
Trade Alert
Bought 15% MRK @ $85.66 Stop @ $81.74 Target @ $103.90 MRK is on a fresh buy signal with a recent breakout of a nice ascending triangle pattern. It was pulled down with the rest of the market the past couple of weeks, but has rallied nicely through the 20-DMA again. The chart also has a nice golden cross (50 across the 200-DMA) recently. Initial target is at the highs around $92, but if that … read more Trade Alert
Trade Alert
Bought 15% SLB @ $19.02 Stop @ $18.19 Target @ $22.49 SLB is giving us a fresh buy signal this morning at the same time Oil itself is putting off a buy signal. From a purely technical perspective we expect a move up near the falling 200-DMA.
Trade Update
Moving stop prices higher: EXR stop up to $108.78 AVY stop up to $125.59 UHS stop up to $116.87 All three are currently up about 5% and moving nicely. We’ll move the stops up a bit above break-even for now. The Fed has a meeting today at 2:00. We don’t expect much movement, but one never knows with the Fed.
Trade Alert
Bought 15% UHS @ $116.00 Stop @ $110.79 Target @ $135.90 UHS is a pretty classic breakout chart. Strong resistance along ~$114, now breaking out cleanly aboe the 200-DMA with a rising 20 and 50-DMA underneath. Expect the breakout to rally about equally to the current channel which would take us up to ~$136.
Trade Alert
Bought 15% AVY @ $123.18 Stop @ $116.70 Target @ $140.90 Nice three month symmetrical triangle chart patter breakout. Fresh Wanderer buy signal on Friday, triangle breakout today, and golden cross on the way shortly.
Trade Alert
Bought 15% CAT @ $152.23 Stop @ $145.29 Target @ $173.00 CAT providing a strong breakout this morning. This chart has some nice upside potential if indeed the industrials do play catch up to the tech stocks for a while. We also look at DE as a similar stock, and when it broke above its late 2019 highs recently, it ran up significantly. We’ll see if we can see the same with CAT here.
Trade Alert
TWO TRADES: Bought 15% CERN @ $74.25 Stop @ $70.40 Target @ $84.90 CERN has been building a perfect symmetrical triangle pattern the past four months. Breaking out this morning. These patterns we expect the next leg up to be roughly equal to the width of the triangle, so we’re looking at about $84.90. There will be some resistance at the $80.90 high to deal with first. Stop is back below the triangle. Bought 15% … read more Trade Alert
Trade Update
Move stops up: V stop to $205.49 DAL stop to $29.59 Both trades are moving nicely. We’ll move the stops up a bit here to ensure we lock in a nice gain if the market turns lower. Visa is approaching our target at the all-time-high. Delta shot straight up for us, up about 10% in just a couple of days. This sector obviously remains in a very precarious position, but any good news sure moves … read more Trade Update
Trade Alert
Bought 15% WM @ $114.00 Stop @ $109.89 Target @ $126.79 Nice uptrend running along, and horizontal resistance being broken. This is an ascending triangle chart pattern and could see a nice breakout here. Also very close to giving us a golden cross (50 across the 200-DMA) which could bring in additional buying pressure.
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