Technical analysis highlighting some recent & potential technical developments on the US stock market as well as some of the sectors & individual stocks that stand out at this time. playback speed can be increased in the settings to reduce video duration
Member @ruben made a request for the charts of NFLX, BA & GIS within the trading room. As each of these look like potential trading opportunities (the former 2 as shorts & the latter as a long trade), I figured that I would post the charts here on the front page for any members that might be interested in any of these stocks. As I have been finding it increasingly difficult to identify attractive long-side trade ideas, particular with individuals stocks, I'll start with GIS (General Mills Inc). GIS may likely continue down to around the 54.30ish support level before bottoming, [...]
This video covers the consumer staples sector via XLP as well as some of my favorite individual stock trade ideas within the sector. Please log in or sign up for your free 3-week trial to view.
The following Short Trades have been moved to the Completed Trades category as they have either exceeded their suggested stop (or any reasonable stop criteria, if none listed) or they no longer look compelling from a risk/reward perspective: AMTD: Regained the uptrend line shortly after the breakdown & went on to exceed any reasonable stop. AMTD may be added back as a new short setups soon as the charts have come full circle & once again look ripe for a correction. CBOE: This trade bounced, as expected, off of the S1 support level but continued moving higher, exceeding any reasonable stop. [...]
From time to time, I will share a reply to a question that I've received which might have some usefulness to others following the trade ideas or market commentary on RSOTC. The following trades; GRA, HSNI, GIS, & ABG, as well as my thoughts on the market are discussed below: Question: I must ask if it's wise to hold the shorts GRA, HSNI, GIS and ABG given the expected bounce off S&P support. I've read projections that the S&P could go as high as 1830 on this rebound. I realize each stock is a different situation so generic answer may not [...]
GIS daily Jan 29th GIS (General Mills Inc) will offer an objective short entry on any move below today's LOD of 48.06 with prices breaking down from this Head & Shouders topping pattern. T2 at 43.22 is my preferred & final swing target at this time. Although the stock is currently trading slightly below the neckline, I prefer to see one more thrust below today's previous lows before establishing a short position to help minimize the chances of shorting into a fake-out, or false break-out of the pattern. With GIS trading at 48.20 as I type, that would only [...]