Mar 112013
 

HMY looks to be offering an objective entry around current levels and will be added as an Active Trade at the open tomorrow barring any unusually large gap in either direction (2% or more).  Harmony Gold, like many of the recently posted mining stocks trade ideas, has made a very over-extended plunge down to support on the weekly chart while setting up in a bullish pattern on the 60 minute chart (which helps to refine the optimal timing on the entry).  HMY broke above the top of it’s 60 minute pattern today and managed to close above that level and as such, should provide an objective entry tomorrow.  A stop below the 6.20 level would offer about a 4:1 R/R to the first profit target (7.20) and a 5:1 R/R to the second (final) price target, assuming an entry around today’s closing level of 6.43.  60 minute and weekly charts:

Mar 112013
 

AAPL 60 min 5Zooming in on the AAPL trade/setup even further, here’s a 60 minute chart which shows that key downtrend line that I’m watching for an additional/confirmed buy signal.  As you can see from this chart, that downtrend line currently intersects a nice resistance zone (as defined by the March 1st gap as well as several recent reaction levels in the stock).   Therefore, any solid break over that level would likely bring in a new wave of buyers.  I have also added a few overhead resistance levels to keep an eye on.

Mar 112013
 

AAPL 4 hour 9Although I didn’t specify it in the early post today, those interested in the AAPL long could certainly take an initial position on a break above the lower wedge trendline.  In fact, the stock is moving up sharply as I type so by the time this post is made, it will have taken out that level.  The “full position” trigger would still be above the white downtrend line to help avoid a pre-mature entry.  Here’s an updated zoomed-in version of that previous 4 hour chart.

Mar 112013
 

MAKO daily 6The MAKO long trade has now hit the first profit target (13.25) for a 16.2% gain so consider booking partial or full profits and/or raising your stops, depending on your trading plan.  For longer-term traders/investors, my preferred target at this time is T3 (the final target at 16.10) although shorter term traders might consider taking partial or full profits anywhere from T1 to T2.

Mar 112013
 

IAG is breaking out above this 60 minute downtrend, thereby offering an objective long entry here with the appropriate stops in place (based on your preferred target).  This pattern has nice positive divergences in place below plus IAG has recently (so far) found reversed off key support on the weekly chart with a rare, but historically effective oversold buy signal (see weekly chart below):

Mar 112013
 

OCN daily 2OCN looks like an objective add-on or new short entry here as prices have turned down after a recent successful backtest of these dual intersecting trendlines preceded by the recent primary uptrend line breakdown.  Suggested stop over 43 area.

Mar 112013
 

LEN looks like an objective new entry or add-on to an existing short position here as it backtests the recently broken bearish rising wedge pattern.  Updated daily & weekly charts:

Mar 112013
 

AAPL 4 hour 8Now that AAPL has hit my original final downside target, added all the way back in August 2012 when the stock was within a few percentage points of it’s all-time high and still well within a powerful uptrend, I am now watching the stock for an entry on a long side trade.  The reasons for this trade are 1) As mentioned, the stock has now fully fulfilled the expected downside move that I’ve been expecting for over 6 months now and that target was/is at very a very solid support level on the daily & weekly charts.  2) On both the daily & especially the weekly time frame, AAPL is at oversold levels which have historically signaled excellent buying opportunities.  3) As this updated 4 hour chart shows, AAPL has set up in a nice bullish falling wedge pattern which helps narrow down an objective entry point from a timing perspective (entry on a breakout above the wedge pattern). 4) If wrong, losses on the trade can be easily quantified with a stop not far below this key support level.

I’ve drawn two similar downtrend lines defining the top of the pattern (orange & white lines) but to help minimize the chances of jumping the gun, would prefer to wait until a break over the white downtrend line as the buy signal.  The first target is 482.50 (set about 2.50 below the resistance level marked by that horizontal line to help assure a fill) with additional upside targets very likely to be added if the target begins to play out.  As the actual entry price is unknown at this time, stops will be determined based upon entry.  Although I only have an early, relatively shallow target listed at this time, I am also adding this setup to the Long-Term Trades category as AAPL may likely be offering an objective entry for longer-term traders and investors around current levels.

I recently posted a string of daily time frame charts illustrating the AAPL short off it’s all-time highs and here’s a string of the previous posted 4 hour charts that were posted along with that trade (note, the original entry on this first chart listed the short entry to be on a break of that minor uptrend line.  However, the entry was revised just after that to be an active short at the open on Monday, Aug 27th, which was 679.99).

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