While not appearing in headlines every day in the financial press, big pharmaceutical and healthcare stocks have been advancing, if unevenly along with the general buoyancy of the overall markets. The chart of Eli Lilly shown below is an example of the building bullish patterns on many of the classic big pharma stocks including Merck, … Continue reading Pharma ABBV
Breaking Out
Russia RSX
The U.S. stock market continues upward with enormous momentum after breaking through the 20,000 level earlier this year. This is a fairly common phenomenon in markets seen over and over again. When a stock, or in this case an index nears a round number threshold, there is an initial ceiling as people tend to take … Continue reading Russia RSX
Tesla TSLA
Tesla has been one of the most compelling stories in the stock market over the past two to three years. The stock price moves have matched that excitement. As the company tries to wrest the auto industry away from the gasoline and gear paradigm to the IPhone on wheels model, skepticism and optimism have taken their turns at dominating the price … Continue reading Tesla TSLA
Canadian Small Caps, PHX
The buoyant overall equity markets have created positive spillover effects on Canadian small caps as well. The strong markets have resulted in dozens of smaller resource based issues that have been pulled along by presumptive optimism. We examine a small TSX resource company, PHX, that looks technically well positioned for a push higher. PHX is showing positive price action rising … Continue reading Canadian Small Caps, PHX
Cisco CSCO
One of the powerhouses of the Dow has finally broken free of the old supply area at 31.5 which has capped the progress since September of last year. At the same time, the DMI indicator has turned higher and money flow is moving in favor of the new trend. The SCTR accumulation statistic has yet … Continue reading Cisco CSCO
HCA
As we've made note of in a previous posting, healthcare issues have lagged many other sectors during the recent advance. When an issue in an unfavored group exhibits interesting technical signs, we should pay attention. The chart of HCA shown below gives off a number of clues that a trend change is about to happen. … Continue reading HCA
Oclaro Inc OCLR
OCLR appears on our screens mainly due to the persistent accumulation shown by the SCTR rating. The measure has been stuck in the high 90's since last June with very few downticks. The chart had a tremendous rise last year, breaking out from just over 5 to hit a peak over 10. The 50 day moving … Continue reading Oclaro Inc OCLR
Ramping Up…Or Not
A sudden interest in base metal stocks has propelled CENX into the next area of logical resistance, albeit from almost 2 years ago at the 15 area. The surge in interest in metal stocks has elevated heretofore dull companies such as X and AKS, both steel producers as well as FCX and SCCO, both copper companies. … Continue reading Ramping Up…Or Not
Ramping Up
Today, we explore the weekly setups of two companies, unrelated to each other in industry but both exhibiting similar upside chart potential. One is CENX and the other is IBKR. CENX has gone through a long multi year period of basing after the steep sell off almost two years ago. Recent activity is encouraging as the stock … Continue reading Ramping Up
