We have an implusive breakout above the downtrend line in CMCSA (Comcast Corp Class A) today following the divergent low. CMCSA was recently an active trade that hit the sole price target for a quick profit with the stock taking one last plunge lower of roughly 12% from that level, which we were able to side-step with a timely exit & well placed price target. CMCSA daily June 6th While that trade was based primarily off the 60-minute charts, hence the relatively small price target & short holding period, today's breakout above the primary downtrend line on the daily [...]
The near-term outlook for the US stock market via QQQ, SPY & several of the leading stocks within the Nasdaq 100 Index. Key support & resistance levels as well as price targets are covered.
The CMCSA (Comcast Corp Class A) swing trade has hit the first & only official price target, T1 at 34.43, for a quick 3-day beta-adjusted gain of 3.9%. The total move from the entry price of 33.24 on Wednesday was 3.6% with the suggested beta-adjusted position size of 1.1, or 10% above a typical position size, resulting in the 3.9% beta-adjusted gain. The case for a potential longer-term trade along with an update on CMCSA was covered in today's Trade Ideas Update & Market Analysis video. Previous & Updated 60-minute charts followed by the daily charts below: Click first chart to expand, [...]
The video provides updates on all of the active trade ideas plus a few unofficial trades on RSOTC at this time proceeded by a brief analysis of QQQ with the near-term outlook for the US stock market. For those wishing to skip ahead to a particular trade idea, the following securities are covered in this order: QQQ (up to the 5 minute market) followed by CANE, WEAT, CORN, CMCSA, ENDP, IEF, TLT, LABD*, XBI*, NFLX, NKTR, SIRI, URGN & XLP. *LABD & XBI were recently closed out after hitting the sole price target but there are some notable developments on the [...]
This video begins with an overview of two long-term indicators that warn of a significant bear market in the foreseeable future followed by a discussion on not only how to survive, but how to prosper during the next major downtrend in equities. Going forward, the stock market is likely to continue to shift away from the buy & hold + indexing strategy that has worked unusually well in recent years towards a trading & investing environment that will likely be marked by increased sector & asset class rotation while security selection (i.e.- individual stock picking vs. index investing) & tactical asset [...]
This video provides updates on all of the Active Long Trade ideas on Right Side Of The Chart at this time as well as a few additional, related trade ideas. For this wishing to skip ahead to a particular trade idea, the following stocks & ETFs/ETNs are covered in this order: CANE, CMSCA, ENDP, IEF, TLT, SHY, XLE & XLP.
CMCSA (Comcast Corp Class A) offers an objective long entry for a quick, oversold bounce trade back up to at least the 34.43 level & quite possibly to the 37.25ish area if it can take out this 60-minute downtrend line with conviction. The stock has fallen to support while at deeply oversold levels on the daily RSI not seen since November 2016, with the stocck rallying 40% over the next seven months after that previous extreme oversold reading. To be clear, I am not expecting another 40% rally following this current oversold reading & tag of support. The sole [...]