HollyFrontier (HFC) completed a continuation rectangle by closing above 47.20. Furthermore, the stock is now above its 200 MA first time since early June. HFC is in the same sector as Valero (VLO) Oil & Gas Refining and Marketing. Take a look at an earlier post on VLO. Notice anything ? Target is $54.50
- Why HollyFrontier’s Bull Run Is Inevitable (fool.com)
Ebay (EBAY) completed a 1 year rectangle top by closing below 49.50. A previous post in July mentioned the same rectangle but much shorter in duration. The stock morphed, continued to trade inside the rectangle and failed to breakout to the upside. Furthermore, the rectangle pattern coincides with a multi year resistance zone in red from late 2004. Implied target for this pattern is $42.
If you like junk food such as PizzaHut, KFC or TacoBell..well do not worry it looks like more & more people are consuming YUM! Brands (YUM). The stock is holding on a 4 year trendline and lately constructing a 20 months rectangle top that is on the verge on breaking out. Target implied is $87.
Boeing (BA) ascent has been similar to a plane take off rising sharply into the skies. As shown on the chart the trendlines are becoming more & more steeper. In addition to a break of the steepest minor trendline, yesterday’s action also illustrate a 2 day island reversal. Although BA gaps a lot, the island formation should be taken into consideration.
Did you know that Europe approved use of in-flight electronics during take-off & landing. Read more here
- Boeing Airplanes To Have Folding Wings. (moptoolz.wordpress.com)
- Boeing Tumbles as Oppenheimer Cuts on Optimism-Obscured Challenges (blogs.barrons.com)
- Boeing Deals Fly High in Dubai, and 4 More Things You’ll Want to Know Today (dailyfinance.com)
Two strikingly similar H&S tops on a couple of petroleum stocks.