HP’s History With Level 28

Hewlett Packard (HPQ) almost completed a 2+ year H&S bottom with a neckline at 28, a significant level throughout HP history. Looking back at 2005, a similar pattern formed and the 28 level was also the major resistance point. Furthermore, in 2009, the 28 level provided support and HP bounced off reaching new highs. A decisive close above $28 would complete the pattern and indicate a target of $43.

 

hp

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Bazaar Breakout Level

Bazaarvoice (BV) broke-out mid 2013 after completing a 6 months rectangle bottom and reached its target and more. After that BV went into a downtrend. Today a 6 week H&S bottom is underway in which the neckline happens to be the same level of the previous years’ rectangle at 8.15. Initial target is $9. But this time caution is needed as there is a Gap from November which usually acts as a resistance zone. Stop loss @ $7.90 as per LDR

Best to your trading!

 

BV


Sweet Seventeen

The 17 level has been a sweet trade for short sellers of Gencorp (GY) the past two times. As shown below below in 1987 & 2006. Each instance a double top pattern triggered the breaking of the 17 level support line. Now a 1 month H&S top completed and the 17 level has been breached. Will the short sellers enjoy their treat this time too?

 

GYm

 

 

GY


Haptikos Analog

The origin of the word haptics is the Greek haptikos, meaning able to grasp or perceive. Immersion Corporation (IMMR) is a developer of haptic technology more on that here. IMMR has completed a H&S Top with a neckline at 12.25. If you look back at 2008, we will find that IMMR completed a Double top pattern with almost the same neckline level. After breaking down IMMR continued to drop to $2.31 in March 2009. Will we have a similar cycle to the downside this time?

immr

 

 

immrw


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BigMac Short

McDonalds (MCD) looks very weak here..being down on a day like this, in addition to closing the gap at the island reversal, plus the analogy of the past year.
Looks like a good short candidate with a stop @100.90. Pls share/comment !

mcd, mcdonalds, bigmac, the bigmac

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