Blackberry Failure

Blackberry is a textbook example of why you have to wait for a breakout and not to jump in before the pattern is completed. Earlier post is over here . Although its technical still a valid H&S Bottom its a loooong way now from the neck at 18.32

blackberry, bbry, failure, learn, stock trading, technical analysis

Blackberry Weekly

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Westport: Imminent Bullish Breakout!

Westport Innovations (WPRT) has almost completed a 9-months H&S bottom. The right shoulder has formed a 4-month descending triangle which has broken out today on double the avg volume. A close above 32.89 completes the H&S bottom and targets $43.

wprt, westport, westport innovations inc, westport innovations

WPRT Daily


What is Blackberry hiding?

After forming a 5-month Inv H&S Bottom last year with a successful breakout in November, Blackberry has more than doubled in value. Now, on a weekly chart, the stock has formed a possible 18-month Inv H&S with a neckline at 18.32. Notice that the current right shoulder has coiled into a wedge. A break out of the wedge and a close above 16.60ish will be an initial signal for more upside, whereas a clearance of the neckline will have a target of $30.

blackberry, brry, telecom, blakberry curve, blackberry bold

Blackberry Weekly


AIG, left alone on an island

AIG has formed a 7-week island top. The pattern is complete as long as it closes below 43.25.

aig, island, island top, island reversal, bearish, reversal

AIG Daily


Follow Up On Oil Chart

After the breakout (which i bought & got stopped out at a small loss) oil formed a 4-day island reversal and pushed down back into the pattern. This is bearish news for the bulls. Further weakness will be indicated by a close below the right Inverse H&S signaling a Inv H&S failure. My recommendation is to stay away from Oil until it breaks 30.79 on USO ETF shown below.

oil, wti, crude, uso

USO Daily


Can Platinum Really Drop 30%?

Platinum’s chart looks extremely bearish. As shown below on the weekly chart it has formed a 3.5-years H&S Top. Furthermore, the right shoulder formed a 1.5 years consolidation rectangle and the magical 1400 zone, 1,375 to be exact has been able to support the metal until now…. If this zone is pierced decisively LOOK OUT BELOW !!! this plunge will be nothing compared to Gold’s recent decline and target will be 1,000….at least

platinum, gold, metals, bearish

Platinum Weekly


Trade Setups For After The FED

AutoDesk (ADSK) formed a not so perfect 6-months H&S Top which has broken neck @ 35.51. The pattern has retested the pattern and is back below the neck again. The stock is weak compared to the overall market. On a weekly basis the stock has completed a 5 point touch triangle that should be resolved soon.

adsk, H&S, head and shoulders, fed

ADSK Daily

adsk, autodesk, traingle, fed

ADSK Weekly

American Vanguard Corp (AVD) formed a triangle top which has not yet broken down…yet. Keep a close eye at 27.8 level.

AVD, traingle top, fed

AVD

Golden Minerals Co (AUMN) has been trading in a tight range rectangle since mid April. The last couple of days showed volume increasing at the upper resistance and yesterday price pierced the rectangle on the upside but closed inside. A decisive close above the 1.95 completes the pattern heading to the upside. This may be a bottom.

aumn, fed, rectangle

AUMN Daily

Fastenal (FAST) completed a double top formation with the second top exhibiting a sloping H&S. In addition to a pick up in volume, the neck has been broken by 0.10, which is not that decisive. Anyways, watch it closely for an implied target of 41.

fast, double top,

Fast Daily

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