Posted: August 27, 2013 Filed under: Triple Top | Tags: AJG, Arthur J. Gallagher, Arthur J. Gallagher & Co., insurance, risk, triple top
Arthur J. Gallagher & Co. (AJG) is a US-based global insurance brokerage. AJG has completed a 3-months Triple Top formation and broke down today targeting 39.30.
Posted: August 26, 2013 Filed under: H&S, resistance, trendline | Tags: laser, medical equipment, Spectranetics, SPNC, The Spectranetics Corporation
Spectranetics (SPNC) has been on an uptrend since early 2009 and has been respecting its trend-line drawn from March 2011 until August 2013 where the trend-line broke down. The bearish case accumulates further with SPNC unable to trade back above the 200 day moving average for a week. Furthermore, SPNC has a 6-months H&S Top in the making with life support at 16.79. Note that this support level was a major resistance level back in 2007. A break and close below the neckline yields a possible target of 12.80. One drawback for this short idea is its low volume. Will the bears pull the plug on this one?
Posted: August 21, 2013 Filed under: H&S | Tags: "Head & Shoulders", "Head and Shoulders", "Topping pattern", AAPL, APPLE, GOOG, GOOGLE, H&S Top, IBM, NASDAQ, QQQ, Technology, technology stocks, Topping
Part 1 of this post was back in June here, where I pointed out that for the third time in a row IYW formed a H&S Top. Target was achieved with a clean breakdown and no pullbacks. Currently, a smaller than usual 3-week H&S Top is forming for the FOURTH time! Neck at 77.50 and initial target is 75.60. Risk to reward ratio may not be that great though, but you never know maybe this will be a minor reversal top that starts a major bear trend.
Posted: August 21, 2013 Filed under: Double Bottom | Tags: company corporation, Forest Oil, FST, Natural Gas, oil, the corporation company
Forest Oil (FST) completed 5-months Eve & Adam double bottoms by closing above the neck at 5.45. The consolidation box prior to the breakout increases confidence in this trade for an initial target of 6.90. NB: stock has a high short float of 24%.
Posted: August 19, 2013 Filed under: resistance | Tags: DIS, Disney, disney channel, disney la, disney world, entertainment, Walt Disney Co.
Disney (DIS) formed a 4-months rectangle or darvas box with 5 touches in 2011 and the breakdown has been very profitable if you were on the correct side of the trade which is ‘short’. Fast forward, August 2013 and a very similar 3-months box is forming…
Which side will you be on THIS time?
Posted: August 15, 2013 Filed under: H&S | Tags: "Six Flags Entertainment Corporation", six, six flags, water park
Six Flags (SIX) has completed a 4+ months Complex Head & Shoulder Top, a neckline at 34.63 and an implied target of 29.
Note its now below the 200MA, which is another bearish factor.
Posted: August 13, 2013 Filed under: Double Bottom | Tags: AAPL, APPLE, I APPLE, IPHONE, IPHONE 5, IPOD, JOBS, MACBOOK, MACBOOK AIR
Apple has completed a 5-months double bottom on Aug 5th. It then made a pull back into the pattern. Today it looks like it will attempt again to close outside the pattern. This time it is different because it happens to be that the 200MA is acting as a secondary resistance zone. A clearance of the 200MA yields a possible target of 540.