ACN (Accenture Ltd) will be added as an Active Short Trade idea here on the break below this large rising wedge pattern. Suggested stop over 100.65 offers a 3:1 R/R if targeting T2 (with a lower stop for those only targeting T1).
XLP (Consumer Staples ETF) is in a precarious technical position, starting to break below both this short-term & long-term (primary trendline) as shown on this 4-year, 2-day period chart. Also note the negative divergences that were in place at the recent all-time highs in XLP [continue reading…]
The HA (Hawaiian Holdings) Active Short Trade & Setup has broken below the uptrend line, thereby triggering the next objective add-on or new short entry. 18.45 remains the sold profit target at this time with a reaction likely around the 22.15 support level.
ESS (Essex Property Trust) offers an objective short entry here following the recent breakdown below this Head & Shoulders topping pattern. T1 at 197.70 is the sole profit target on this trade although one could also opt to book partial or full profits if/when ESS [continue reading…]
I was asked to post an update on the JO (Coffee ETF) Long Trade idea. Following the brief whipsaw/failed breakout, JO made one final? thrust down to put in another divergent low & is current trading above the pattern (bullish). Consider a stop on any [continue reading…]
I’ve have several inquires about the EA (Electronic Arts) Active Short Trade & Short Setup recently & figured that I’d share my thoughts. I still think this trade looks promising and is very likely to play out if & when the broad markets start moving [continue reading…]
ERX/XLE looks poised to run up to some & possibly all of these near-term resistance levels should prices break above this falling wedge pattern. Personally, I’m still keeping things light, trying to refrain from establishing any new positions while the market continues to gyrate within [continue reading…]