This video discusses several methods used to determine price targets for a particular stock or other security including chart patterns projections, Fibonacci Projections as well as support & resistance levels.
Member @hardsix inquired within the trading room as to whether or not PCLN (The Priceline Group Inc) looked like a potential shorting candidate as the stock is very over-extended. On the first chart below (2-year, daily time frame) potential divergences are in place as PCLN makes the most recent & most extreme overbought reading in years. White circles & arrows highlight the corrections following the previous overbought levels (70+ on the RSI). PCLN daily Feb 14th Zooming out to this 10-year weekly chart, it appears that PCLN is likely to fall to at least the 965 area sometime in [...]
The following short trade ideas have either hit one or more profit targets and/or exceeded their maximum suggested stop & have been moved from the Active Trades category to the Completed Trades category, where all associated posts will be archived indefinitely for future reference. note: All of these trades were already highlighted in the trading room & in the recent Short Trade Ideas video updates. This is simply a final front page update to those trades with the calculated gain or loss percentage for tracking purposes. On a related note, I would like to add that the unusually high failure rate [...]
I received some positive feedback regarding update the trade ideas in video format & will look to publish video updates on the trade ideas on a regular basis going forward. This video covers all of the recent active trade ideas, some of which have just recently exceeded their suggested stops. The video also starts out by covering an unofficial trade idea, CARA (Care Therapeutics Inc) that was posted in the trading room earlier today. I also discuss my own preference to temporarily suspend stops on most of my positions due to the increased likelihood of those stops being clipped over the [...]
This video covers the Active Short Trade Ideas on Right Side Of The Chart, along with a brief highlight of today's breakdown of QQQ, including some objective levels for shorting the broad market.
The following Active Short Trade ideas are covered in this order: ADP, AG, AMZN, BRKB, FL, GDX/NUGT, XOP/DUG/GUSH, PCLN, & USO/UWTI.
PCLN (Priceline Group Inc) offers an objective entry here on the...