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Famous Dave’s (DAVE) Breakout

DAVE (Famous Dave's of America) has broken out above this downtrend line & looks poised for a move to the 6.75 area although with the stock reporting earnings within the next few weeks, this is only an unofficial trade idea. Volume confirming the breakout so far which helps to reel in the spreads on this thinly traded stock. Just be aware that if/when the volume dries up, the spreads are likely to widen, at which point limit vs. market orders are probably best used to exit a position. Daily chart: DAVE daily July 26th

2017-03-08T21:19:37+00:00 Jul 26, 2016 3:16pm|Categories: Unofficial Long Ideas|Tags: |Comments Off on Famous Dave’s (DAVE) Breakout

Triangle Pattern In DAVE Ready To Pop

DAVE (Famous Dave's Of America) looks ripe to pop out of this symmetrical triangle pattern one way or the other any day now. I favor an upside breakout which is likely to spark a short covering rally. As this stock is still in a vicious bear market that has wiped out 85% of this company's share price since the Feb 2015 highs, this should be considered a very aggressive, counter-trend trade with the appropriate position size made to one's position, assuming such as aggressive trade on a highly shorted company with fundamental issues even meshes with their trading style. Due to [...]

2017-03-08T21:19:51+00:00 Apr 21, 2016 12:38pm|Categories: Uncategorized|Tags: |7 Comments

DAVE Short Trade Setup Entry Criteria Revised

I've slightly revised the trendlines that were shown on the recently posted DAVE Long Trade Setup. The yellow lines on the price chart show a bullish falling wedge with the white downtrend line as the top of a descending price channel. DAVE 120-minute Dec 16th DAVE (Famous Dave's of America) remains an aggressive trade setup with the stock in a relentless downtrend but poised for a potential short-squeeze/counter-trend bounce. It appears that DAVE has made an impulsive breakout of the bullish falling wedge pattern (yellow lines) on this 120-minute period chart with the stock up over 9% so far [...]

2017-03-08T21:20:07+00:00 Dec 16, 2015 2:34pm|Categories: Uncategorized|Tags: |Comments Off on DAVE Short Trade Setup Entry Criteria Revised

DAVE Potential Short Squeeze

DAVE (Famous Dave's Of America) looks to be setting up for a potential short-squeeze. DAVE will trigger an aggressive long entry on a any break above 8.35. Suggested stop below 7.63 or higher if only targeting T1 or T2. As an aggressive counter-trend trade with above average gain & loss potential, only consider this trade if it meshes with your trading style and risk tolerance. Also consider making the the proper beta-adjustment to your position size to account for the above average profit & loss potential. DAVE 120-minute Dec 9th

2017-03-08T21:20:08+00:00 Dec 9, 2015 10:50am|Categories: Uncategorized|Tags: |Comments Off on DAVE Potential Short Squeeze

Long Trade Ideas Category Updated

The following Long Trade Ideas have either hit one or more profit target and/or exceeded their maximum suggested stop criteria. These trades will now be moved to the Completed Trades category, where all associated posts will be archived for future reference.   WTI: This one was just added as a long entry yesterday on a breakout above dual resistance levels. The stock was down sharply today apparently on this form 10-Q/A filing, crossing below the maximum suggested stop below a 3:1 R/R to the final price target (which was 1.00 above the entry price, which put the stop at 3.60). DAVE: [...]

2015-11-11T20:44:01+00:00 Nov 11, 2015 8:44pm|Categories: Completed Trades - Long|Tags: , , , , |Comments Off on Long Trade Ideas Category Updated

DAVE Long Trade Setup Entry Criteria & Price Targets Revised

The entry criteria for the DAVE (Famous Dave's of America) Long Trade Setup has been revised to any move above 11.97, which will have clearly taken the stock above the primary downtrend line that was pointed out when the original setup was posted a few weeks ago. DAVE has continued to drift lower within the bullish falling wedge pattern since then, with the bullish divergence still well intact & even larger now.   Price targets have been revised to T1 at 13.26, T2 at 15.35 & T3 at 16.95 with a suggested stop on a daily close below 11.00 [...]

2015-10-28T11:43:29+00:00 Oct 28, 2015 11:43am|Categories: Completed Trades - Long|Tags: |5 Comments